Charles Hoskinson, the founder of Cardano, recently announced that Midnight, a new privacy-focused sidechain, will be a game-changer for the Cardano network. He claims it will be the biggest economic event in Cardano’s history.
The Midnight Launch
Hoskinson stated that Midnight’s token generation event (TGE) and foundation launch are happening this month and next. A big marketing campaign with videos, infographics, and a detailed tokenomics paper will follow. He believes that a successful Midnight launch will be incredibly significant for Cardano’s economy.
Midnight’s Role in a Larger Ecosystem
Hoskinson sees Midnight as a key part of a larger system connecting Cardano, Bitcoin, and a data protection chain. This system will offer businesses a choice: the security of Bitcoin or the speed and lower cost of Midnight. For high-speed transactions, a new layer-2 solution called Thundercloud is being developed, combining existing research projects. The entire system is expected to be ready by November.
Cardano’s Governance Issues
Hoskinson expressed frustration with Cardano’s slow governance process. He pointed out that the network has a large treasury but lacks the executive power to use it effectively. He believes that unlocking this treasury could significantly benefit Cardano’s DeFi ecosystem by addressing the shortage of stablecoins. He warned that Input Output (IO), the company he founded, will shift its focus to building on Cardano rather than solely supporting its core infrastructure unless governance improves.
Hoskinson’s Personal Reflections
Hoskinson admitted to feeling burnt out after ten years of intense work. He plans a six-month break once Midnight launches and the 2026 budget overhaul begins. However, he confirmed that IO will continue to release updates, including Ouroboros Leios, Babel fees, and improvements to the mobile wallet.
Why November is Key
While some parts of Midnight might launch earlier, November marks the crucial point where the foundation, TGE, and ecosystem incentives align publicly. By then, the Midnight Foundation will have announced numerous launch partners, and Midnight transactions will start flowing back to Cardano’s main layer. Hoskinson anticipates a significant increase in users, fees, and Cardano’s overall value, particularly in areas like regulated DeFi. He believes this combined system of Cardano, Midnight, and Bitcoin will solve many existing problems.
The Glacier Drop Airdrop
A massive airdrop, called the “Glacier Drop,” will distribute Midnight tokens (NIGHT and DUST) to millions of wallets across several major blockchains.
