The entire supply of NIGHT tokens belonging to the Midnight Privacy Network was issued on Cardano mainnet. This is 24 billion tokens.
This issuance can be seen in the block explorer, indicating that the total supply of the digital asset has already been registered on the network.
According to the Midnight team, these tokens will be distributed through a program called “Glacier Drop” aimed at holders of various digital assets, including Bitcoin (BTC), Ether (ETH), and Cardano’s own ADA.
This token has not yet been listed on an exchange and therefore has no official market value. Its main features are: Utilities within the Midnight ecosystemThis includes the generation of a second token, “DUST”, which will be used to pay network fees.
As explained by CriptoNoticias, Midnight is a side network (side chain) Zero-knowledge proof (ZK proof).
This project became famous because Joining Google Cloud to operate critical infrastructure and validation nodes on the network.
The collaboration is aimed at increasing security and regulatory compliance to attract enterprise customers, but has been the subject of discussion in the community. Ecosystem experts are raising questions about the potential for centralization and the risk of corporate actor influence in networks that promote data privacy.
With supply issuance completed, Midnight’s next step is token distribution and ecosystem development.
The market will be watching closely How networks balance privacy proposals with tech giants’ participationwill be a deciding factor in future hiring.
