Project Name: Midnight
Token Name: $NIGHT
Fields Involved: Compliant privacy L1
Midnight is a blockchain network focused on compliant privacy and programmable data protection. It allows transactions and data to be selectively disclosed or hidden through zero-knowledge proof technology and programmable privacy modules, meeting privacy and regulatory compliance requirements. The NIGHT token plays a key role in network governance, resource allocation, and access permissions.
Midnight uses a dual-token mechanism: the NIGHT token is used for network governance, block rewards, consensus participation, and access permissions, while the DUST token is used to pay for privacy transactions or privacy contract invocation fees and is non-transferable. Users initiating privacy transactions need to consume DUST, and the generation and holding of DUST are related to holding NIGHT tokens.
This division of labor separates the overhead of governance, cybersecurity, and privacy transactions. NIGHT is used to maintain network operation and value storage, while DUST focuses on resources for privacy transactions, aiding regulatory review and compliance management.
Users holding NIGHT can participate in decisions regarding network rules, contract execution standards, privacy disclosure policies, protocol upgrades, ecological fund allocations, and cross-chain collaborations. The governance mechanism gives users a voice in the future direction of the network, supporting the construction of a decentralized ecosystem.
The community and token holders can discuss and decide on privacy settings and compliance strategies, making network development more participatory while balancing the interests of multiple parties, including ordinary users, businesses, and developers.
