OKX crypto exchange has launched a new airdrop campaign for Midnight, Cardano’s partner chain, offering eligible users across Europe a total reward pool of 5 million $NIGHT tokens.
The seven-day campaign adopts a Trade-to-Earn model, rewarding users based on both their crypto holdings and trading activity. According to the campaign countdown, participants have five days remaining to register and qualify for the promotion.
Eligible users who complete the registration and satisfy the campaign requirements will automatically receive daily $NIGHT token distributions throughout the promotional period.
OKX Combines Asset Holdings With Trading Activity
Unlike traditional cryptocurrency airdrops that primarily reward wallet holders, OKX’s latest X Drops campaign requires participants to maintain eligible crypto assets while actively trading on the platform.
To qualify for the promotion, users must:
- Hold at least €500 ($571.85) worth of eligible cryptocurrency assets in their OKX account. Nearly all non-stablecoin cryptocurrencies qualify.
- Trade eligible cryptocurrency pairs during the campaign period.
- Register for the X Drops campaign before the registration deadline.
Once users meet these conditions, they automatically become eligible to receive daily allocations from the 5 million $NIGHT token reward pool without submitting additional claims.
Trade-to-Earn Model Rewards Active Participants
A key feature of the campaign is its Trade-to-Earn mechanism, which determines rewards based on each participant’s trading volume rather than distributing equal amounts to everyone.
OKX calculates each user’s share using a rolling seven-day trading volume. As a result, participants who generate higher qualifying trading volumes receive a larger portion of the daily $NIGHT token rewards.
The exchange also offers an additional incentive for trading the Midnight token itself. Specifically, all qualifying $NIGHT trades receive a 5x weighting when calculating rewards, allowing active $NIGHT traders to increase their share of the daily distribution.
Once calculated, rewards are credited automatically to eligible users’ accounts each day without requiring any manual redemption.
Midnight’s First Airdrop
The current OKX campaign is not Midnight’s first large-scale token distribution.
The $NIGHT token officially debuted through a multi-chain airdrop that rewarded holders across eight blockchain networks, including XRP Ledger, Cardano, Solana, Ethereum, and Bitcoin. Users who held at least $100 worth of the native assets on eligible blockchains qualified to receive $NIGHT allocations.
The Midnight Foundation adopted a phased redemption schedule. Allocated tokens unlock gradually over four quarterly periods, with 25% becoming redeemable during each phase.
The third redemption window is currently active and runs from June 8 through September 5, 2026. The final redemption period is scheduled to take place between September 6 and December 4, 2026, allowing eligible recipients to claim the remainder of their allocated $NIGHT tokens.
In the meantime, $NIGHT was trading at $0.027, down 11.22% over the past week, and 8.81% over the past month. With a market cap of $459.97 million, $NIGHT ranks as the 81st-biggest token on CoinMarketCap.
