午夜代币解锁：新的黎明还是又一个加密午夜？

Midnight 的 NIGHT 代币即将推出，并于 12 月 10 日开始解锁。这些解锁会带来机会还是稀释？导航午夜网络并解锁加密货币。

Midnight Token Unlocks: A New Dawn or Just Another Crypto Midnight?

午夜代币解锁：新的黎明还是又一个加密午夜？

Midnight's NIGHT token launch is almost here, with unlocks scheduled to begin on December 10. Over 4.5 billion NIGHT tokens, roughly 19% of the total supply, will be redeemed by eligible participants. Will these unlocks bring opportunity or dilution? Let's dive in.

Midnight 的 NIGHT 代币发行即将到来，解锁计划将于 12 月 10 日开始。超过 45 亿个 NIGHT 代币（约占总供应量的 19%）将由符合资格的参与者赎回。这些解锁会带来机会还是稀释？让我们深入了解一下。

The NIGHT Unlocks: What's the Deal?

夜晚解锁：有什么关系？

The NIGHT token distribution stems from the Glacier Drop and Scavenger Mine initiatives. The Glacier Drop saw over 170,000 wallets claiming 3.5 billion NIGHT, while the Scavenger Mine brought in approximately 8 million wallets claiming an additional 1 billion NIGHT. These events form the basis for the 4.5 billion tokens set to unlock.

NIGHT 代币的分配源于 Glacier Drop 和 Scavenger Mine 计划。 Glacier Drop 吸引了超过 170,000 个钱包，索取了 35 亿 NIGHT，而 Scavenger Mine 则吸引了大约 800 万个钱包，索取了另外 10 亿 NIGHT。这些事件构成了即将解锁的 45 亿枚代币的基础。

The Midnight team will release these tokens in four installments, staggered over 360 days, starting December 10. To avoid a sudden supply shock, each participant's initial unlock date will be randomized within the first 90 days. This measured approach aims to smooth the flow of new supply into the market.

Midnight 团队将从 12 月 10 日开始，在 360 天内分四期发行这些代币。为了避免突然的供应冲击，每个参与者的初始解锁日期将在前 90 天内随机分配。这种谨慎的方法旨在使新供应顺利流入市场。

Midnight's Roadmap: More Than Just Unlocks

Midnight 的路线图：不仅仅是解锁

The NIGHT launch on Cardano marks a pivotal moment for the Midnight Network. Multiple exchanges and wallet providers are expected to announce support soon. Midnight is currently in its first phase, Hilo, focused on community participation and liquidity.

卡尔达诺 NIGHT 的发布标志着 Midnight Network 的关键时刻。预计多个交易所和钱包提供商将很快宣布支持。 Midnight 目前处于第一阶段，即希洛，重点关注社区参与和流动性。

The roadmap includes three major phases: Kūkolu (Q1 2026), launching the Genesis block and privacy-enhancing dApps; Mōhalu (Q2 2026), introducing an incentivized testnet for SPOs; and Hua (Q3 2026), focusing on interoperability and hybrid dApps.

该路线图包括三个主要阶段：Kūkolu（2026 年第一季度），推出 Genesis 区块和增强隐私的 dApp； Mōhalu（2026 年第二季度），为 SPO 引入激励测试网；和 Hua（2026 年第三季度），专注于互操作性和混合 dApp。

Token Unlocks: A Double-Edged Sword

代币解锁：一把双刃剑

Token unlocks can significantly impact altcoin valuations. Large unlocks can lead to dilution, causing price drops. Remember SEI and ARB? They saw significant price drops after major unlocks, potentially turning them into what some call "zombie coins."

代币解锁可以显着影响山寨币的估值。大量解锁可能会导致稀释，从而导致价格下跌。还记得 SEI 和 ARB 吗？在主要解锁后，它们的价格大幅下跌，可能会变成一些人所说的“僵尸币”。

However, it's not all doom and gloom. Some altcoins can double in value during bullish phases. The key is to embrace market cycles and identify potential rallies. On-chain data can provide valuable insights into upcoming movements.

然而，这并不全是厄运和悲观。一些山寨币在看涨阶段的价值可能会翻倍。关键是要适应市场周期并识别潜在的反弹。链上数据可以为即将发生的走势提供有价值的见解。

Navigating the Crypto Landscape: A Few Thoughts

探索加密货币领域：一些想法

Personally, I think the staggered release schedule for NIGHT tokens is a smart move. By spreading out the unlocks, the Midnight team is trying to minimize the risk of a massive price dump. Plus, their focus on utility and future development phases shows they're thinking long-term.

就我个人而言，我认为 NIGHT 代币的交错发行时间表是明智之举。通过分散解锁，Midnight 团队试图将价格大幅下跌的风险降至最低。此外，他们对实用性和未来开发阶段的关注表明他们正在进行长期思考。

Of course, the crypto market is unpredictable. But with a well-thought-out strategy and a little bit of luck, Midnight might just pull this off. Keep an eye on Bitcoin's movements, as it continues to exert a strong influence on the altcoin market.

当然，加密货币市场是不可预测的。但只要有深思熟虑的策略和一点点运气，《午夜》也许就能成功。密切关注比特币的走势，因为它继续对山寨币市场产生强大影响。

So, What's the Verdict?

那么，判决是什么？

Will Midnight shine brightly, or will it fade into the darkness? Only time will tell. But one thing's for sure: it's going to be an interesting ride. So buckle up, grab your favorite beverage, and let's see what happens!

午夜会闪耀光芒，还是会消失在黑暗中？只有时间才能证明一切。但有一件事是肯定的：这将是一次有趣的旅程。所以系好安全带，拿起你最喜欢的饮料，让我们看看会发生什么！