The NIGHT token is about to go live with major exchanges readying coordinated airdrops for millions of users across top crypto networks. OKX has confirmed its participation, joining Binance and Kraken in supporting the initial rollout of Midnight’s native coin.
OKX Confirms Support for NIGHT Token Airdrops
The exchange officially declared in a release that it would distribute the Midnight’s NIGHT token to users who hold eligible assets during the official snapshot period. They include ADA, BTC, ETH, SOL, XRP, BNB, AVAX, and BAT.
It was stressed during the exchange that access to airdrop will vary depending on jurisdiction. Also, NIGHT cannot be distributed in all of them due to regulatory limitations.
OKX explained that the balance of each token shall be calculated separately and needs to be fully deposited before the snapshot to be counted toward allocation.
The token will be distributed to eligible users who hold the supported assets through a tiered distribution model. ADA holders will receive 50% of the airdrop pool, the largest share. BTC holders will get 20%.
30% of the airdrop pool will go to holders of ETH, SOL, XRP, BNB, AVAX, and BAT.
This plan aims to reward participation across different blockchain networks. OKX will also start trading the token soon after the distribution begins.
This comes after Binance said it will list the NIGHT token on December 9. Users who qualify can claim their allocation after trading begins. Kraken announced that it will also list the new token.
Charles Hoskinson Shares Roadmap for Midnight Network
In an interview , Hoskinson said that the NIGHT token will work using the Midnight platform. This network will use a fast consensus system named Jolteon, which is designed for high performance.
Jolteon can handle up to 5,000 transactions each second and has fast block times. This allows privacy-focused smart contracts to work well while still keeping security.
The network will launch with a nine-month integration period. During this time, the focus will be on testing and ensuring stability with the wider Cardano system. According to Hoskinson, new features will come out every one to three months.
The Midnight Foundation plans to airdrop 4.5 billion tokens in total. Trading will start today on many other platforms.
The NIGHT airdrop was announced in August. This brought excitement across the crypto community as investors anticipate growth for the token.
Source: https://coingape.com/night-token-launch-okx-set-to-airdrop-tokens-to-ada-btc-sol-and-xrp-holders/
