The Good Tech Companies - Midnight Opens Redemptions for 4.5B+ NIGHT Tokens After Record-Breaking Distribution Event

Starting point is 00:00:00 This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Midnight opens redemptions for 4.5B plus Knight tokens after record-breaking distribution event, by I.O.H. London, December 4th, 2025, Midnight TGE, the entity responsible for distributing Knight, the Midnight Network's native token, today launched Knight on Cardana. The launch enables redemptions for more than 4.5 billion Knight tokens claimed during the Glacier drop and scavenger mine claim phases, culminating in one of the broadest and most engaged distributions in blockchain history, with the redemption period opening on December 10th. The remaining supply will be distributed to the network's core constituents named in the

Starting point is 00:00:43 tokenomics paper, published earlier this year. Greater than, this is a pivotal step on the midnight roadmap, said Fami Syed, president of Greater Than the Midnight Foundation. The community will now be able to hold their night, greater than see their unlock schedules, and prepare to meaningfully participate in a greater-than-net that's bringing essential privacy infrastructure to the entire greater than industry. Midnight is a new L-1 blockchain that leverages zero knowledge proofs and a unique tokenomics model to give users more control over what data they share on chain. Knight is the native token of the Midnight Network, enabling users

Starting point is 00:01:17 totalize the network, participate in consensus, and govern the long-term direction of the network. At Mainet launch, Knight will also begin generating dust. The renewable re-renewable resource used to execute shielded transactions and smart contract operations on the network. This industry-first model is designed to support predictable network capacity while enabling privacy-enhancing transactions that preserve confidentiality without compromising auditability. The redemption phase of Glacier Drop will open next Wednesday, December 10th at zero-hundred coordinated universal time, with the redemption portal scheduled to go live shortly beforehand, enabling participants to preview their night allocations and thawing schedule ahead of time.

Starting point is 00:01:57 The redemption phases thawing will follow the Glacier drop thawing schedule outlined in the network's tokenomics paper, with allocations unlocking in four equal installments over 360 days, with each allocation's first thaw date randomly assigned within the initial 90-day window, and subsequent thaws every 90 days. This staggered approach is designed to ensure a fair diffusion as the ecosystem advances in planned phases, from TestNet to fully decentralized maynet. Further details about how participants can collect their nests. night will be provided through official midnight channels in the coming days.

Starting point is 00:02:31 Greater than, the gradual thawing of night is intentional and aligned to our phased greater than roadmap, which is designed to provide a clear, resilient and responsible path greater than to decentralization, ensuring the ecosystem matures in a way our partners and greater than community can trust, continued Syed. By launching night now, we're providing greater than immediate utility and liquidity to the community while we continue developing greater than robust foundations for our Mainet launch early next year. Once Midnight Mainet launches, Knight's total supply will be mirrored onto the Midnight ledger, creating a single, multi-chain asset that circulating supply exists on both Midnight and Cardana. A protocol-level mechanism ensures

Starting point is 00:03:11 thatokans can only be fully unlocked on one chain at any time, preventing duplication of value as Knight moves between ecosystems. Major exchange, custodian and wallet partners are expected to announce their support of Knight in the coming days. expanding accessibility and liquidity as the network approaches Mainet. Additional wallet, infrastructure and ecosystem integrations will continue to roll out as Midnight advances towards launch. About Midnight TGE, Midnight TGE is the token generating entity responsible for the initial distribution of night to network participants. Established to support the launch and decentralization of the Midnight ecosystem, the entity ensures tokens are allocated in accordance with the project's

Starting point is 00:03:52 tokenomics and distribution schedule. For more information, visit htttps colon slash midnight.gd slash about midnight foundation the midnight foundation as an organization dedicated to advancing the development, adoption, and real-world impact of the Midnight network, the privacy-enhancing blockchain project developed in conjunction with shielded technologies. Designed for privacy enabling smart contracts, Midnight encourages developers to consider the power of building compliant applications with selective disclosures. It leverages zero knowledge proofs and a cooperative to conomics architecture, with night as the utility token and dust as the utility resource,

Starting point is 00:04:30 to deliver a powerful combination of rational privacy, security, and decentralization. For more information, visit https colon slash midnight. Foundation thank you for listening to this hackernoon story, read by artificial intelligence. Visit hackernoon.com to read, write, learn and publish.

The Good Tech Companies - Midnight Opens Redemptions for 4.5B+ NIGHT Tokens After Record-Breaking Distribution Event

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