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Sebastien Guillemot
Current focus: ZK (lattice,folding,Starstream), onchain games and chain abstraction (Paima). drep1kyppjlhz4lawh4g0ewx2d8a5l20t4yclfnppnuvdkmt7vccg836
Sebastien Guillemot reposted
Been following @SebastienGllmt’s work for ages and noticed his deep involvement with @MidnightNtwrk. As someone obsessed with token design, I took a deep dive into their unique dual-token approach. Here’s my TLDR:
1⃣ Midnight is a Cardano "Partnerchain" focused on data protection using zero-knowledge proofs to keep sensitive commercial and personal data private, while still enabling regulation-friendly dApps.
2⃣ What really stands out is their dual-token design:
NIGHT: The native utility token
DUST: A renewable, shielded resource for transaction fees
NIGHT generates DUST. DUST powers the network.
🔹 NIGHT Token
Main role: Generates DUST, which is needed for Midnight transactions
Also used for block rewards, ecosystem incentives, and governance
24B supply, minted on Cardano and mirrored on Midnight
Not consumed when used holding NIGHT lets you generate DUST
The expansion of the circulating supply via block rewards slows down over time
🔹 DUST Resource
Used only for transactions, think of it like energy for the network
Shielded: keeps user and transaction data private
Renewable: generated by holding NIGHT
Decays over time if not connected to a NIGHT address, not transferable, not a store of value
Burned when used for transactions
NIGHT holders generate DUST by designating a DUST address, the more NIGHT you hold, the more DUST you generate. This helps keep transaction costs predictable and not tied to NIGHT’s price volatility.
3⃣ What’s interesting?
Predictable operating costs for users, as transaction costs are not directly linked to the fluctuating price of the NIGHT token
DApp operators can sponsor user transactions, abstracting away Web3 friction
“Capacity Marketplace” could let NIGHT holders lease unused DUST, and tools like Babel Station might enable access to Midnight’s capacity via non-NIGHT tokens or fiat
4⃣ Block Production & Incentives
NIGHT incentivizes block producers (MBPs) to secure the network
Starts with trusted nodes, moving toward permissionless Cardano SPOs
Block rewards come from a fixed protocol reserve no new NIGHT minted, no NIGHT fees for txs, and DUST isn’t used as a direct incentive
Rewards mix a fixed subsidy and a variable part based on block utilization, encouraging efficient block space use
*The value flow skip technical part (consensus, mempool...)

5.14K
Sebastien Guillemot reposted
Been following @SebastienGllmt’s work for ages and noticed his deep involvement with @MidnightNtwrk. As someone obsessed with token design, I took a deep dive into their unique dual-token approach. Here’s my TLDR:
1⃣ Midnight is a Cardano sidechain focused on data protection using zero-knowledge proofs to keep sensitive commercial and personal data private, while still enabling regulation-friendly dApps.
2⃣ What really stands out is their dual-token design:
NIGHT: The native utility token
DUST: A renewable, shielded resource for transaction fees
NIGHT generates DUST. DUST powers the network.
🔹 NIGHT Token
Main role: Generates DUST, which is needed for Midnight transactions
Also used for block rewards, ecosystem incentives, and governance
24B supply, minted on Cardano and mirrored on Midnight
Not consumed when used holding NIGHT lets you generate DUST
The expansion of the circulating supply via block rewards slows down over time
🔹 DUST Resource
Used only for transactions, think of it like energy for the network
Shielded: keeps user and transaction data private
Renewable: generated by holding NIGHT
Decays over time if not connected to a NIGHT address, not transferable, not a store of value
Burned when used for transactions
NIGHT holders generate DUST by designating a DUST address, the more NIGHT you hold, the more DUST you generate. This helps keep transaction costs predictable and not tied to NIGHT’s price volatility.
3⃣ What’s interesting?
Predictable operating costs for users, as transaction costs are not directly linked to the fluctuating price of the NIGHT token
DApp operators can sponsor user transactions, abstracting away Web3 friction
“Capacity Marketplace” could let NIGHT holders lease unused DUST, and tools like Babel Station might enable access to Midnight’s capacity via non-NIGHT tokens or fiat
4⃣ Block Production & Incentives
NIGHT incentivizes block producers (MBPs) to secure the network
Starts with trusted nodes, moving toward permissionless Cardano SPOs
Block rewards come from a fixed protocol reserve no new NIGHT minted, no NIGHT fees for txs, and DUST isn’t used as a direct incentive
Rewards mix a fixed subsidy and a variable part based on block utilization, encouraging efficient block space use
*The value flow skip technical part (consensus, mempool...)

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