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Charles Hoskinson, the founder of Cardano, has celebrated a major milestone in the adoption of Midnight Network (NIGHT) tokens launched via the Glacier airdrop. In a post shared on X, Hoskinson expressed excitement at the massive engagement that the project has enjoyed.
Midnight Token redemptions cross 11K in one day
According to Hoskinson, in 24 hours, Midnight has recorded impressive numbers. “Already 11,000 redemptions for 250,000,000 NIGHT! I'm blown away by the progress,” he wrote.
The Cardano founder expressed excitement and surprise at how users in the ecosystem are interacting and redeeming the project. This reflects strong community solidarity with Cardano Midnight, the layer-2 innovation built on the protocol.
While some might consider 11,000 redemptions a small number, engagement suggests that adoption could scale up in the coming days. Notably, users are still trying to understand it, as some have complained of complex redemption processes, especially with Ledger integration issues.
As the development team looks into this feedback, the project’s goal of mass adoption might become clearly achievable.
Hoskinson believes that the Midnight Network utility has the potential to change the lives of billions of users.
As reported by U.Today, in a strategic partnership with Brave Wallet, Hoskinson highlighted Cardano Midnight zero-knowledge platform could support Brave Ads and Brave VPN. The aim is to support Brave to earn from integrating it into its business model.
Cardano’s decentralized governance makes historic move
Beyond Midnight, the Cardano community recently made history by directly approving core development funding. The move marks a pivotal moment in decentralized governance as ADA holders have been empowered to sustain the network through their participation.
The development funding supports needed upgrades in the ecosystem, such as scalability, interoperability and developer experience.
Meanwhile, on the cryptocurrency market, ADA holders are keen on the price outlook as the asset has stagnated and appears unable to breach the $1 psychological level.
As of press time, Cardano is changing hands at $0.7225, representing a 1.92% decrease in the last 24 hours. Trading volume is also in the red zone by 3.77% at $891.3 million as traders pull back.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team