Cardano Founder Targets XRP Holders in Massive Airdrop to End Crypto Tribalism

Cardano chief Charles Hoskinson is spearheading a token airdrop called Glacier Drop aimed at ending crypto tribalism. This initiative will distribute Midnight tokens to 37 million addresses across eight blockchains, including XRP and Bitcoin. Notably, no venture capitalists will benefit, focusing solely on retail users. Industry leaders support this unified approach in hopes of creating a more collaborative crypto ecosystem.

Charlotte Hoskinson, the founder of Cardano, has announced a bold new token distribution initiative that aims to address the ongoing issue of crypto tribalism. This project, called the Glacier Drop, will be rolled out during Consensus 2025 in Toronto, and will reach across eight blockchains, prominently including the XRP Ledger.

The Glacier Drop seeks to distribute two native Midnight tokens: NIGHT, which will function as a governance token, and DUST, designed for facilitating private transactions. It’s targeted at over 37 million addresses which span holders of popular cryptocurrencies like XRP, Bitcoin, and Cardano.

In a departure from the conventional token rollout, Hoskinson confirmed that this distribution will steer clear of involving venture capitalists or insiders. He emphasized simplicity and fairness during his presentation, ensuring that these tokens would only go to retail users. Hoskinson has termed this initiative a stand against what he refers to as “VC Ponzi” dynamics prevalent in the crypto realm.

The intention behind the Glacier Drop strategy is to bridge fragmented crypto communities by fostering cooperation instead of competition among various platforms. “Every Consensus, there is a new token shouting, ‘my thing is better than yours,’” he commented, advocating for a shift towards collaborative economics.

Other notable figures in the industry, such as Ripple CEO Brad Garlinghouse and attorney John Deaton, support this viewpoint, focusing on the need for unity in the cryptocurrency space rather than allowing rivalries to create barriers. Garlinghouse has actively spoken about creating a national U.S. crypto reserve that encompasses a range of assets rather than centring solely on Bitcoin.

Hoskinson sees the Glacier Drop and Midnight’s innovative approach to privacy and functionality as vital in attracting a new demographic of cryptocurrency users, particularly as larger tech companies begin to encroach on this territory. “This is the project I’m having the most fun with,” he remarked, adding that it allows him to build connections within the broader crypto community.

Furthermore, the Midnight platform, which is currently in its testnet phase, is set to introduce an interesting economic structure when the mainnet launches—expected in late 2025. Developers will have the flexibility to settle transaction fees using their chain’s native token, such as using ETH for Ethereum or SOL for Solana.

Additionally, validators from multiple chains will join in securing the Midnight network and will benefit through rewards, irrespective of their blockchain origins. This approach aims to redefine the existing dynamics in crypto by promoting inclusivity and engagement among different platforms.