Cardano founder Charles Hoskinson, one of the leading names in the crypto industry, has announced a significant token distribution event, dubbed Glacier Drop.
This program is looking to disburse Midnight tokens to nearly 37 million wallets existing on eight different blockchains. Hoskinson’s objective is to promote cooperation and bring an end to the existing competition between blockchain communities.
Unlike many previous token launches, Glacier Drop will focus entirely on retail users, deliberately excluding venture capitalists and early insiders.
Hoskinson emphasized that this airdrop will not reward investors or insiders but will instead provide tokens directly to everyday users. This approach is part of Hoskinson’s belief that the crypto community needs less competition and more collaboration.
However, the two types of midnight tokens will include the NIGHT governance token and the DUST token, which is centered on transaction privacy. The tokens are created to facilitate cross-chain development, allowing developers to use fees based on their own blockchain’s natively supported currency.
Glacier drop airdrop boosts crypto community unity
For instance, Ethereum developers will be paid using ETH, Solana developers using SOL, and Bitcoin developers using BTC. Validators across various blockchains will be rewarded together, irrespective of what network they belong to.
This economic model underlies Hoskinson’s concept of “cooperative economics” that aims to bring blockchain networks together instead of competing harshly against each other. The Midnight sidechain now exists in the testnet, and it’s expected to launch the full mainnet by late 2025.
Hoskinson hopes this new approach will attract billions of users. However, he sees an opportunity as major tech firms increasingly expand their presence in the cryptocurrency industry.
Nonetheless, by widely distributing tokens and promoting cross-chain cooperation, he aims to make the crypto space more inclusive. His goal is to create a more peaceful and collaborative future for the industry.
