Hi everyone 🙋 As part of this event, I'll be talking about the Night project.

#PostToWinNIGHT

What is NIGHT?

NIGHT is Midnight's native utility token. Its primary role is to generate DUST, the shielded resource used to pay for all Midnight transactions. The Cardano-based privacy-focused Layer-1 blockchain launched the NIGHT token as a Cardano Native Asset on December 4, 2025. Trading began on December 8th. It has a market capitalization of $582M, with a circulating supply of 16.6 billion (total 24 billion). The launch, announced by Charles Hoskinson, opened up 4.5 billion NIGHT to redemption from the Glacier Drop and Scavenger Mine airdrops.

NIGHT generates a shielded DUST resource for transaction fees; it is transferable and exchange-listable. It is designed for anti-inflationary, governance, and rewards. Following the Q1 2026 federated mainnet, the Kukolu phase will activate dApps. With the testnet explosion and Google Cloud partnership, rational privacy is transforming Web3. NIGHT continuously produces DUST, therefore transaction costs depend on the DUST mechanics, not the market price of NIGHT.

The Midnight Network's roadmap positions 2026 as a transformative year. The four-phase plan is as follows:

Hilo (Current): Liquidity and community access established; Glacier Drop redemptions continue with random 90-day thawing (First window: December 10, 2025 - March 2026, final thaw November 2026).

Kūkolu (Q1 2026): Federated mainnet launch, activation of the first privacy dApps. Enterprise integrations and cross-chain bridges expected; $300M TVL target.

Mōhalu (Q2 2026): SPOs and nodes go live, DUST capacity market activated. Network decentralization accelerates, NIGHT governance begins.

Hua (Q3+ 2026): Full-scale adoption, governance, and ecosystem expansion.

Charles Hoskinson describes Midnight as "privacy that works, identity that scales"; it will offer regulation-compliant privacy with ZK proofs.
👉The GATE Night LAUNCHPOOL event is ongoing. You can participate by staking GUSD, ETH, and Night.