BitGo and the Midnight Foundation will partner to deliver secure custody, seamless token claiming, and institutional support for programmable privacy onchain.
The Midnight Glacier Drop will launch soon, and BitGo will support the secure, institutional distribution of NIGHT, the native token of Midnight’s privacy-first blockchain.
The Glacier Drop will serve as the first phase of Midnight’s multi-part token distribution and will be one of the largest multi-chain token drops to date. A total of 24 billion NIGHT tokens will be allocated across holders of ADA, BTC, ETH, SOL, AVAX, BNB, and BAT. The snapshot has already been taken, and the 60-day claim window will open on August 28, 2025.
To support institutions and qualified participants, the Midnight Foundation will partner with BitGo Trust Company Inc., which will provide institutional custody for NIGHT and a direct integration with Midnight’s protocol.
What Is Midnight?
Midnight is a fourth-generation Layer 1 blockchain that brings programmable privacy to Web3. Built using zero-knowledge cryptography and Cardano Native Assets, Midnight will allow developers and institutions to build smart contracts with selective disclosure. This approach enables privacy while maintaining compliance and operational integrity.
NIGHT is the network’s native utility token. It will power confidential smart contracts, pay for transaction execution, and support the ecosystem’s core operations. The Glacier Drop will be the first opportunity to access NIGHT ahead of the mainnet launch, which is expected in November 2025.
BitGo’s Role in the Glacier Drop
BitGo will launch a dedicated claim portal that allows institutional and individual users to securely claim NIGHT tokens. The portal will support cross-chain eligibility verification, custody, and full visibility into token vesting and redemption timelines.
Participants will be able to:
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Verify eligibility based on snapshot holdings
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Submit claims and track vesting schedules
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Redeem unlocked tokens directly through BitGo
All NIGHT token allocations will follow a 12-month vesting schedule, unlocking in four equal parts.
“Privacy and compliance are no longer mutually exclusive,” said Chen Fang, CRO of BitGo. “Our partnership with the Midnight Foundation supports a future where institutions can access programmable privacy with the highest security standards in the industry.”
Why This Matters
With no external investors and a radically fair distribution model, the Midnight Foundation aims to bring rational privacy to the next generation of blockchain infrastructure.
By collaborating with BitGo, Midnight will enable institutions to securely engage with privacy-preserving smart contracts and help scale adoption of onchain confidentiality in a way that meets both regulatory and operational requirements.
“BitGo’s leadership in digital asset infrastructure makes them an ideal partner for Midnight,” said Fahmi Syed, President of the Midnight Foundation. “Their support strengthens our ability to deliver both access and security for Glacier Drop during the most important phase of our launch.”
Prepare to Claim
If you held a balance in any of the eligible assets at the time of the snapshot, you may qualify to participate in the Glacier Drop. This will be the most accessible phase of the NIGHT distribution, and BitGo will serve as the official gateway for claiming, custody, and redemption.
About Midnight Foundation
The Midnight Foundation is an organization dedicated to advancing the development, adoption, and real-world impact of the Midnight network, a privacy-enhancing blockchain built with Shielded Technologies. By enabling selective disclosure in smart contracts, Midnight offers compliant, secure, and privacy-preserving infrastructure for developers and institutions. Learn more at midnight.foundation
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BitGo is the leading infrastructure provider of digital asset solutions, delivering custody, wallets, staking, trading, financing, and settlement services from regulated cold storage. Since our founding in 2013, we have focused on enabling our clients to securely navigate the digital asset space. With a large global presence through multiple regulated entities, BitGo serves thousands of institutions, including many of the industry's top brands, exchanges, and platforms, as well as millions of retail investors worldwide. As the operational backbone of the digital economy, BitGo handles a significant portion of Bitcoin network transactions and is the largest independent digital asset custodian, and staking provider, in the world. For more information, visit www.bitgo.com.
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