Cardano is preparing for its Midnight mainnet launch, and the team has now minted the full supply of 24 billion NIGHT tokens. This will mark the first time that the token exists directly on-chain. In addition, this gives the token an established position in the Cardano ecosystem.
Completing the Glacier Drop and Scavenger Mine Stage
Recently, Cardano’s privacy-focused sidechain Midnight announced the mint of 24 billion NIGHT tokens. Noteworthy, all the minted tokens are being held in a smart contract, and will remain there until the project completes the Glacier Drop and Scavenger Mine stages. This brings the assurance that there will be little to no early movement of the tokens.
Also, it ensures transparency as each phase comes up. With the minting transaction came defined details for the gradual release schedule of the Glacier Drop. There was also information on how tokens will unlock over time. According to the team, the entire NIGHT token supply was created as Cardano Native Assets (CNAs). This was achieved via a strategic partnership with Midnight TGE and its technical collaborators.
NIGHT Token Could Rank High
Based on insights gathered from onchain data, the full supply of NIGHT was minted at exactly 5:34 PM on October 14, 2025. Apart from being the first time that NIGHT exists directly on-chain, this latest development gives the token a permanent and verifiable record on the Cardano blockchain. As it stands, the foundation for NIGHT’s distribution and future use across the network has been established by the team.
Meanwhile, there have been suggestions that the NIGHT token may be worth about $0.41. While there is no certainty to this will be the price level of the digital asset if more people use and adopt the token, it could become one of the top 20 crypto assets.
NIGHT Tokenomics According to Cardano Founder
On one hand, XRP holders are waiting to receive a large share of tokens from the new Midnight network, as promised by Cardano founder Charles Hoskinson. Their allocation is around 5% of the total 24 billion NIGHT token supply, which is equivalent to approximately 1.2 billion tokens.
Notably, 50% of the total supply will go to Cardano holders. 30% of the tokens will be allocated to Bitcoin (BTC) holders. Another 5% is set aside for XRP holders and users of other blockchains like Ethereum (ETH), Solana (SOL), BNB, AVAX, and BAT.