Midnight is entering a decisive phase as its mainnet launch approaches, marking the transition from early testing to a live production environment focused on privacy and selective disclosure.
Key Takeaways
Midnight is preparing for full mainnet activation focused on privacy and selective disclosure.
Over 1.3 billion NIGHT tokens have already been claimed.
The network, built within the Cardano ecosystem, is designed to support real-world use cases that require data protection while still enabling compliance and controlled transparency.
Mainnet activation represents more than a technical milestone. It signals the beginning of a stable infrastructure layer where developers can deploy applications, experiment with tooling, and expand protocol capabilities. As the network moves toward full operational status, attention is shifting from speculation to long-term utility and ecosystem growth.
Airdrop Activity Supports Early Network Distribution
While the mainnet rollout remains the primary focus, the NIGHT token distribution has played a supporting role in broadening participation. Shortly after launch, the project distributed tokens to more than 11,000 wallets, helping seed early engagement ahead of full network activation.
According to Charles Hoskinson, more than 1.3 billion NIGHT tokens – roughly 5.5% of total supply – were claimed within the first weeks. That level of activity suggests meaningful community interest as Midnight prepares to operate as a live, privacy-focused blockchain.
Technical and Exchange Challenges
The airdrop process was not without friction. Users relying on hardware wallets from Ledger and Trezor reported message-signing and compatibility issues, slowing down claims for some participants.
At the same time, major centralized exchanges such as Binance and Nexo did not support the distribution. Holders who kept their ADA on those platforms were unable to participate directly, contributing to community frustration during the early phase.
Market Reaction and Long-Term Focus
When the redemption window opened in December 2025, NIGHT experienced immediate volatility, falling from around $0.09 to $0.07 in its first trading session. By February 2026, the token was trading near $0.059, reflecting a cooling period after initial listing momentum.
However, analysts argue that short-term price swings may be less relevant as the network transitions to full mainnet functionality. NIGHT’s core utility lies in securing the Midnight blockchain and generating DUST, the resource required for transaction fees within the privacy-focused ecosystem.
With the redemption period remaining open until December 4, 2026, token distribution continues in parallel with the mainnet rollout. The coming months will likely determine whether Midnight can convert early interest into sustained adoption as a live privacy infrastructure layer within the broader Cardano landscape.
