Midnight ($NIGHT) is expected to be listed on Binance Alpha before 6 PM today. Below is the research from the $jager community doctor.
📊 1️⃣ Introduction
Midnight is a privacy sidechain in the Cardano ecosystem, positioned as a fourth-generation blockchain, achieving selective privacy protection through zero-knowledge proof technology. The project is developed by IOG, with the mainnet expected to federate in the first quarter of 2026.
💰 2️⃣ Details on the team, financing, and investors
The founding team is led by Cardano founder Charles Hoskinson and the IOG engineering team.
The project completed a $7.5 million seed round of financing in November 2022, led by Shima Capital, with investors including Forte, Woodstock Fund, FJ Labs, Bixin Ventures, SNACKCLUB, Overwolf, and the founders of Illuvium.
🪂 3️⃣ Airdrop situation, token distribution
The total supply of the NIGHT token is 24 billion, all distributed through community airdrops, with no pre-sale or pre-mining. The airdrop is named Glacier Drop, with the first phase based on multi-chain holding snapshots, and over 3.5 billion have been claimed. The token adopts a dual-token model, with NIGHT used to generate payment fuel DUST and for governance. The treasury accounts for 5.88%, with reserves used for block rewards.
📈 4️⃣ Bullish news
The project is developed by the Cardano core team and has strong support from the founders.
The airdrop covers a broad user base, and the privacy features meet market demand.
A gradual reduction emission mechanism is adopted, emphasizing long-term sustainability.
There are already over 100 partners building the ecosystem.
📉 5️⃣ Bearish news
The project is still in its early development stage, and the mainnet is not yet fully decentralized.
The privacy regulatory environment has uncertainties.
Most tokens are in a locked state, and future unlocks may bring market pressure.
💎 6️⃣ Summary
Midnight is a key privacy project in the Cardano ecosystem, with a solid technical background and fair community distribution. Its rational privacy positioning and dual-token model design have certain innovations. Future development depends on the progress of the mainnet launch and the adoption of ecological applications.
Expected alpha around 240 minutes.
Worth about 40 USD, can't be more.
💹 7️⃣ Pre-market price market performance
None.
All other exchanges are listed at 6 PM, Binance alpha is expected to be earlier.
📚 8️⃣ Information source
Project white paper, official Twitter, RootData, MEXC, Google, etc.
Risk warning:
All the above information is sourced from publicly available data on the internet for reference and learning purposes only and does not constitute any investment advice! Investment carries risks, and caution is required when making large bets! DYOR!
