Question 1

What is the NIGHT token unlock schedule?

Accepted Answer

Midnight Network's token unlock schedule spans from December 9, 2025 to December 9, 2030 (~60 months), releasing a total of 24,000,000,000 NIGHT tokens across 61 unlock events. The initial circulating supply at TGE was 0% of total supply. As of now, 59.6% of all tokens have been unlocked.

Midnight Network's token unlock schedule spans from December 9, 2025 to December 9, 2030 (~60 months), releasing a total of 24,000,000,000 NIGHT tokens across 61 unlock events. The initial circulating supply at TGE was 0% of total supply. As of now, 59.6% of all tokens have been unlocked.
- TGE date: 
December 9, 2025
- Final unlock: 
December 9, 2030
- Total unlock events: 
61
- Vesting duration: ~
60
 months
- Initial float: 
0
%
- Currently unlocked: 
59.6
%

Question 2

What is the total supply and circulating supply of NIGHT?

Accepted Answer

NIGHT has a total supply of 24,000,000,000 tokens. As of April 2026, approximately 59.6% (14,303,170,418 tokens) are in circulation, while 40.4% (9,696,829,582 tokens) remain locked in vesting contracts.

NIGHT has a total supply of 24,000,000,000 tokens. As of April 2026, approximately 59.6% (14,303,170,418 tokens) are in circulation, while 40.4% (9,696,829,582 tokens) remain locked in vesting contracts.
- Total supply: 
24,000,000,000
 
NIGHT
- Circulating: 
14,303,170,418
 (
59.6
%)
- Locked: 
9,696,829,582
 (
40.4
%)

Question 3

When is the next NIGHT token unlock?

Accepted Answer

The next NIGHT token unlock is scheduled for May 9, 2026 (in 21 days), releasing 107,380,394 tokens (0.4% of total supply). This unlock represents 0.8% of Midnight Network's current market cap.

The next NIGHT token unlock is scheduled for May 9, 2026 (in 21 days), releasing 107,380,394 tokens (0.4% of total supply). This unlock represents 0.8% of Midnight Network's current market cap.
- Date: 
May 9, 2026
 (
in 21 days
)
- Amount: 
107,380,394
 
NIGHT
- % of total supply: 
0.4
%
- % of market cap: 
0.8
%
Recipient breakdown for this unlock:
- Community
: 
100
%

Question 4

How do NIGHT token unlocks affect the price?

Accepted Answer

Token unlocks increase circulating supply, which can create selling pressure. The largest upcoming NIGHT unlock releases 7.5% of market cap worth of tokens on June 9, 2026. In total, 56 upcoming unlocks will release 8,263,993,758 tokens (34.4% of total supply).

Token unlocks increase circulating supply, which can create selling pressure. The largest upcoming NIGHT unlock releases 7.5% of market cap worth of tokens on June 9, 2026. In total, 56 upcoming unlocks will release 8,263,993,758 tokens (34.4% of total supply).
- Largest unlock: 
7.5
% of market cap on 
June 9, 2026
- Largest unlock size: 
4.5
% of total supply
- Remaining unlocks: 
56
 events
- Remaining tokens to unlock: 
8,263,993,758
 
NIGHT
 (
34.4
%)
Larger unlocks relative to market cap tend to generate stronger selling pressure. Unlocks going to investors and insiders are often considered higher-risk for price impact than those going to community or ecosystem pools.

Question 5

Who receives NIGHT token unlocks?

Accepted Answer

NIGHT token unlocks are distributed to 2 groups: Foundation and Community. The largest allocation (59.7%) goes to Foundation.

NIGHT token unlocks are distributed to 2 groups: Foundation and Community. The largest allocation (59.7%) goes to Foundation.
Foundation
 (
59.7
%)
 — 14,328,000,000 NIGHT
:
- Midnight Foundation
: 
41.8
%
 (100% at TGE)
- Midnight TGE
: 
11.9
%
 (100% at TGE)
- Treasury
: 
6
%
 (Locked until on-chain governance implemented)
Community
 (
40.3
%)
 — 9,672,000,000 NIGHT
:
- Reserve
: 
20.3
%
 (Perpetual logarithmic emission over ~400+ years)
- Glacier Drop
: 
12.5
%
 (Random 1-90 day initial cliff, then 25% unlock every 90 days)
- Lost & Found
: 
3.8
%
 (Immediate unlock when claimed - available for 4 years)
- Scavenger Mine
: 
3.8
%
 (Random 1-90 day initial cliff, then 25% unlock every 90 days)

Question 6

When will all NIGHT tokens be fully vested?

Accepted Answer

All NIGHT tokens will be fully vested by December 9, 2030 approximately 56 months from now. Currently 59.6% of the total supply has been released, with 40.4% (9,696,829,582 tokens) remaining across 56 future unlock events.

All NIGHT tokens will be fully vested by December 9, 2030 approximately 56 months from now. Currently 59.6% of the total supply has been released, with 40.4% (9,696,829,582 tokens) remaining across 56 future unlock events.
- Released: 
59.6
% (
14,303,170,418
 
NIGHT
)
- Remaining: 
40.4
% (
9,696,829,582
 
NIGHT
)
- Final vesting date: 
December 9, 2030
- Time remaining: ~
56
 months
- Remaining events: 
56

Unlock Date	Token Amount	USD Value	% of MCAP	% of Supply	Risk
May 9, 2026	107.4M NIGHT	$3.9M	0.8%	0.4%	Low
Jun 9, 2026	1.1B NIGHT	$39.7M	7.5%	4.5%	Low
Jul 9, 2026	106.8M NIGHT	$3.9M	0.7%	0.4%	Low
Aug 9, 2026	106.5M NIGHT	$3.9M	0.7%	0.4%	Low
Sep 9, 2026	1.1B NIGHT	$39.7M	6.9%	4.5%	Low
Oct 9, 2026	105.8M NIGHT	$3.9M	0.6%	0.4%	Low
Nov 9, 2026	105.5M NIGHT	$3.9M	0.6%	0.4%	Low
Dec 9, 2026	1.1B NIGHT	$39.6M	6.4%	4.5%	Low

Midnight Network