🌙 What is NIGHT (Midnight)

NIGHT is the native token of the Midnight network, developed by the IOG team led by Cardano founder Charles Hoskinson, focusing on compliant programmable privacy.@MidnightNetwork

🔧 Core positioning

• Privacy-first Layer 1 blockchain, Cardano partner chain

• Achieve verifiable, compliant, and selectively disclosed privacy using zero-knowledge proofs (ZK)

• Address the pain points of traditional public chains being fully transparent and privacy coins being non-compliant

🪙 NIGHT token core information

• Total supply: 24 billion (fixed, no increase)

• Token type: governance + utility token (not purely payment)

• Dual model design (key):

◦ NIGHT: Transferable, used for governance, staking, generating DUST

◦ DUST: Non-transferable, decaying privacy resource, used only to pay transaction fees

◦ Holding NIGHT automatically generates DUST, transactions do not directly consume$NIGHT

✅ NIGHT's three core uses

1. Generate DUST: Holding generates privacy resources for private transactions/contracts

2. Network governance: Voting to decide upgrades, treasury, parameters

3. Staking and security: Stake NIGHT to become a validator and earn block rewards

• Launching by the end of 2025, early projects, limited liquidity, high price volatility#night