Midnight Network releases NIGHT token economics and "glacier airdrop" mechanism According to Coindesk, Midnight Network, a privacy focused blockchain project, has released a white paper on token economics and announced in advance the "Glacier Airdrop" mechanism for native NIGHT tokens. Token applications will begin next month. Glacier Drop "will be conducted in three stages, involving eight major blockchain ecosystems such as Bitcoin and Ethereum. Within the 60 day application period starting from July, qualified wallets holding at least $100 of native tokens at the time of pre snapshot can apply for all quotas. After that, there will be a 30 day "treasure hunt mining" phase, during which unclaimed tokens will be redistributed to participants who have completed computing tasks through a mechanism similar to proof of work. After the mainnet goes online later this year, it will enter the four-year "lost and found" stage. Original applicants who missed the initial application can recover some quotas through self verification. To prevent supply shocks, NIGHT tokens will be randomly unlocked four times within 360 days. Fahmi Syed, Chairman of Midnight Foundation, stated that this mechanism embodies the vision of "rational privacy" and allows developers to finely control on chain data sharing. The qualification snapshot has been completed and is now open for query.