I wanted to know how I can get midnight airdrop. What will be the number of midnight I get in relationship to my ada and where I can find value of each token I will receive etc ? Also, would it be for holding as of now or are there exchanges where you can trade midnight also ?
It will probably be weeks or months until that airdrop.
The Midnight devnet hasn’t even started.
Could you tell me where I can access this info
What’s the tax implication in US for the midnight airdrop? Will these tokens subject to tax for the receiver? How can we opt out of the airdrop?
One of the things I love about the Cardano community is that blow-in postings like this… repeated queries over trendy offers and misinformed hype, in which nobody listens to the bits of realism and actual information presented… are very rare, especially on the Forum & even on Reddit
For a few seconds when reading the above I thought I was on the Aptos forum
what’s the realism ? They did mention airdrops for the cardano community. Also, don’t worry, I will keep both reddit and this forum alive with these things.
I believe the Midnight token is going to be called DUST. And at this point I don’t think there is any info beyond what Charles Hoskinson said in his Cardano Summit interview with Big Pey.
If there’s a DUST airdrop it will be weeks or months from now.
I’m interested in this project too. Sounds like its getting a lot of attention.
The question is - how would the airdrop work? Do ADA holders, having ADA in a Wallet like NAMI, etc need to do anything to receive the Midnight ‘DUST’ airdrop?
Both is possible – really dropping it without the user doing anything and having to claim it somewhere. Really dropping costs a lot of minUTxO ADA, so it is not done often, but IOG is one entity that maybe could afford it.
I’m sure details will be published when this becomes more than a rambling announcement. But that will probably be months away.
Maybe they will use the warp feature of Typhon wallet just kidding, they probably wont, but i can imagine that they could use the same logic with one of their litewallets.
If you are doing an air-drop, that warp feature is not much more than a generic dApp constructing a transaction that takes a UTxO and puts the claimed tokens on it. Nothing revolutionary.
The novel thing that Typhon did was building a UI/UX so that users can somehow do that peer-to-peer. That’s very relevant when none of the two wants to run a dApp on a server, but not really relevant here.
somebody mentioned taxes… wow, sure, you can send out a data report from your wallet and send it to your book keeper/tax person. That is some severe tracking of pennies/micro dollars. If your wallet isn’t designed to hold the entire history, you can simply look it up on cardanoscan… just as anybody can look at your wallets transactions. Case in point, is what Midnight is supposed to deal with concerns of. That’s why it’s called Midnight.
if you don’t want to participate in the airdrop, don’t pay attention from this point on. You have obviously missed all that has ever been offered, so you’ve been opting out for the entire history of airdrops.
Airdrops are pennies, and they involve you spending those pennies, so even if you participated, it would be you trying to use the transaction as a tax write-off.
Thanks for the reply. What’d you mean by “if you don’t want to participate in the airdrop, don’t pay attention from this point on.”? Does not pay attention mean we don’t get the airdrop?
Is the airdrop something to be claimed or automatically sent to the wallet? If latter, there would still be tax burden as the token would be taxed at the price of receive time.
Appreciate all the responses. I hope airdrops are not automatically deposited to wallets without receiver consent. Otherwise, it’s akin to spamming, but with definite financial & regulatory implications. Genuinely trying to understand if these had been considered. Thanks!
Nobody knows by now. It is just a loose promise made in some half sentences in some marketing presentations.
They could definitely send them without receiver’s consent. But it would cost them the minUTxO that has to accompany every native token. So, a claim mechanism where the receiver provides the minUTxO is much more likely, but no guarantees.
Thanks, hope that’s the case. IMHO, tax burden is a serious concern for adoption. We’d either need more crypto-friendly regulations (speaking from US’ perspective) / blockchain accounting for these issues. In this case, airdrops should just be claimed instead of automatically deposited.
I suck with this kind of thing but have been buying ADA for a few years now.
Any guesses as to whether or not the air drop will go to Coin Desk? Or, is it more likely that users need to have their ADA in a different wallet?
Coin Desk? Do they have a wallet app? Thought they are only a mediocre crypto news outlet?
Or do you mean Coinbase? If you have your funds on the exchange itself, there will 99.9% not a possibility to participate in the airdrop. You don’t really own the funds if you have them on a centralised exchange like Coinbase, Binance, Kraken, … At least not from the point of view of the blockchains themselves. Exchanges keep the funds of all their customers mixed up in large wallets/addresses. There’s no way to identify who is supposed to own what without looking at the internal accounting of the exchange.
Coinbase also has its own self-custody wallet app – Coinbase Wallet – but that does not seem to support Cardano. It very specifically states that it only supports EVM-based blockchains: https://docs.cloud.coinbase.com/wallet-sdk/docs/welcome
Yep, you’d most likely need to have the ADA in a native Cardano wallet (app).