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Cryptocurrency News Articles
ADA's Charles Hoskinson wants crypto's tribal warfare to end, and he's prepared to drop tokens on 37 million wallets
May 15, 2025 at 04:06 am
Using Midnight's upcoming airdrop, called Glacier Drop, for Cardano's privacy-focused sidechain that's currently under construction, Hoskinson thinks he can do his part to bring peace to the crypto galaxy.
Charles Hoskinson, the founder of ADA, is aiming to bring an end to crypto's 'tribal warfare'.
During his speech at Consensus 2025 in Toronto, Hoskinson expressed his desire to see a more unified and cooperative ecosystem.
"Every Consensus, there's a new token... running around saying, 'my thing is better than your thing'," he said, recognizing the competitive Nash equilibria in the crypto space.
To contribute to this vision, Hoskinson is planning to drop tokens from Midnight, Cardano's privacy-focused sidechain that's still under construction, to 37 million wallets across eight different blockchains.
This initiative, known as Glacier Drop, will deliver both the NIGHT governance token and the DUST transaction token to the retail community, with no allocation to venture capitalists or early insiders.
"I had no f-ing time for your ponzi, get the hell out of here," Hoskinson said, dismissing venture capital interest in what he pitched as a principled, VC-free airdrop.
Recipients of Midnight tokens from the upcoming Glacier Drop can freely keep, trade, or discard them, a departure from traditional crypto airdrops that typically reward insiders or early adopters exclusively.
"You already have it, congratulations," Hoskinson said. "It's yours. It's your property."
This initiative aligns with Hoskinson's broader vision of "cooperative economics," another core concept introduced during his speech.
Midnight's new economic model will enable developers from different blockchain networks to seamlessly build hybrid decentralized applications, allowing users to pay fees in their native tokens.
Ethereum developers pay in ETH, Solana developers in SOL, and Bitcoin developers in BTC, Hoskinson explained.
Similarly, validators across different chains can collaboratively maintain the network, earning rewards regardless of their blockchain affiliation.
Midnight is currently in testnet, with a mainnet launch expected by late 2025.
This initiative is part of Hoskinson's broader vision for a more inclusive and rational crypto ecosystem, which he sees as crucial for the arrival of billions of mainstream users as major tech giants like Apple, Google, and Microsoft finally enter the crypto domain.
"This is the project that I'm having the most fun with right now, because it's the project where I get to be friends with everybody."
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