Charles Hoskinson Announces Wide-Ranging Token Distribution Event for New Privacy-Centric Sidechain

The initiative, Glacier Drop, is part of the broader launch strategy for Midnight, a new privacy-centric sidechain under development by the Cardano ecosystem.

Cardano founder Charles Hoskinson has announced the “Glacier Drop” airdrop for the Midnight privacy sidechain, distributing NIGHT and DUST tokens to 37 million users across eight major blockchains, excluding VCs. He introduced a "collaborative economics" model. Midnight's mainnet is set to launch by the end of 2025.

Retail-Only Distribution: No Allocation to VCs or Insiders

In a departure from typical token launches, Hoskinson noted that Midnight’s airdrop will not include any allocations for venture capital firms or early investors. The tokens will be distributed exclusively to retail users on participating networks, which he described as a deliberate strategy to promote fairness and transparency.

According to Hoskinson, avoiding institutional pre-sales is a way to challenge the common practice of favoring select insiders, which he referred to as “VC Ponzi” models. The airdropped tokens will be immediately available to recipients, who may choose to hold, sell, or discard them without restrictions.

Expanding Across Eight Major Blockchains

The Glacier Drop will span eight networks: Cardano, Ethereum, Solana, Avalanche, Bitcoin, BNB Chain, XRP Ledger, and the Basic Attention Token ecosystem.

Involving such a wide range of platforms is part of Hoskinson’s broader vision to foster greater cooperation across crypto communities, who he observed have historically operated in silos. He noted that the constant competition between blockchain projects undermines the industry’s long-term growth.

Calls for Unity Echoed by Other Industry Leaders

Garlinghouse, for instance, has proposed a multi-asset U.S. crypto reserve that does not rely solely on Bitcoin. He argued that this would better reflect the diversity and potential of the broader crypto landscape. Deaton, a longtime XRP supporter, has also advocated for ending infighting within the industry in favour of united advocacy on regulatory and policy matters.

Midnight’s Infrastructure Enables Cross-Chain Participation

Beyond the airdrop, the Midnight sidechain is being built to encourage developer engagement across the blockchain ecosystem. One of its defining features will allow developers to pay network fees in the native currency of their home blockchain, such as ETH for Ethereum or SOL for Solana, rather than requiring a new token standard.

The protocol will also support cross-chain validator participation. This means that infrastructure providers from various blockchains can help secure the Midnight network and earn rewards, regardless of which platform they primarily support.

Currently in testnet, the Midnight mainnet is scheduled for release by the end of 2025. As development progresses, Hoskinson expressed optimism that this project will help broaden access to privacy solutions and bridge ideological divides across the crypto industry.

“This is the project I’m having the most fun with,” he said, citing the project’s potential to unite different communities and expand the reach of decentralized technologies.