Pool Name | Percentage | Vesting Information |
|---|---|---|
| Midnight Foundation | 41.79% | 100% at TGE |
| Reserve | 20.30% | Perpetual logarithmic emission over ~400+ years |
| Glacier Drop | 12.50% | Random 1-90 day initial cliff, then 25% unlock every 90 days |
| Midnight TGE | 11.94% | 100% at TGE |
| Treasury | 5.97% | Locked until on-chain governance implemented |
| Scavenger Mine | 3.75% | Random 1-90 day initial cliff, then 25% unlock every 90 days |
| Lost & Found | 3.75% | Immediate unlock when claimed - available for 4 years |
| - | - | - |
| - | - | - |
This section evaluates how Midnight allocates its token supply compared to leading Blockchain projects. It measures deviation across key stakeholder groups and determines whether the allocation aligns with proven benchmarks. The analysis helps assess whether NIGHT follows a fair and balanced distribution structure or introduces concentration risks.
This section analyzes who holds actual control over the Midnight circulating supply year over year, with a focus on early stages where governance risk is highest. It assesses whether the governance power of NIGHT is centralized or decentralized, and flags any dominance by insiders or investors.
This section analyzes whether NIGHT token inflation is sustainable over time. We assess how balanced the vesting and unlock schedules are, and evaluate how inflationary pressure may affect long-term token value, circulating supply growth, and investor dilution.
This section tracks every NIGHT token unlock and dilution event across the full vesting timeline. We quantify the size and timing of each release, classify dilution risk levels (low, medium, high), and highlight the largest unlock event by date and percentage of total supply. Charts help understand emission pressure and anticipate potential supply shocks.
This section evaluates the circulating supply and emission schedule of NIGHT, focusing on its initial float at TGE, its dilution profile over time, and how these levels compare with top-performing projects.
This section analyzes whether the NIGHT token has a clear economic role within the ecosystem, and more importantly, why users would hold it over time instead of treating it as a purely speculative asset. We evaluate what utility the token provides, which functions it enables, and how it solves real problems across the network.
Utility Type | Status | Description |
|---|---|---|
| Governance | NIGHT tokens enable voting on protocol parameters, Treasury allocation, and network upgrades | |
| Access/Feature Unlock | NIGHT required to generate DUST, which lets users transact on the network | |
| Gas Fee | DUST (not NIGHT) is used for transaction fees | |
| Medium of Exchange | NIGHT generates DUST but isn't directly exchanged for services | |
| Staking (DPoS) | Network uses PoS via Cardano SPOs, but NIGHT holders don't directly stake |
Value Accrual | Status | Description |
|---|---|---|
| Block Production Rewards | SPOs receive NIGHT rewards for block production | |
| Burn | Only DUST is burned when used (not NIGHT directly) | |
| Buyback and LP | No buyback mechanism described | |
| Fee Redistribution | DUST fees are burned, not redistributed | |
| ve-Token Models | No vote-escrow mechanism |
This section is one of the most important layers: it analyzes whether Midnight (NIGHT) captures and retains on-chain value and how effectively that value flows back to the token. We examine fee redistribution, staking rewards, buyback mechanisms, burn models, and whether the protocol creates real token sinks that reduce sell pressure over time.
Midnight has 2 primary token utilities:
Midnight token distribution allocates 24,000,000,000 NIGHT across 2 primary stakeholder groups:
NIGHT uses variable cliffs and vesting schedules that change depending on the allocation:
53.7% of the total supply (12,895,200,000 NIGHT) is unlocked at TGE, with the entire unlock going to Foundation.
Midnight has a total supply of 24,000,000,000 NIGHT.
Total length of the full Midnight emission schedule is 6 years, with 67.18% released in Year 1, while the remaining 8.58% is released over the following 5 years.
40.3% of the Midnight supply is allocated to community focused pools such as Reserve, Glacier Drop, Scavenger Mine, and Lost & Found.
This tokenomics data is maintained by Tokenomics.com and updated automatically from our analytics engine.
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