Cardano Founder Charles Hoskinson Unveils Plan to End Crypto Infighting with Massive Token Distribution

Charles Hoskinson, the founder of Cardano, has expressed his desire to put an end to the ongoing tribalism in the cryptocurrency world. To achieve this, he plans to distribute tokens to approximately 37 million wallets across eight different blockchains through a massive airdrop known as Glacier Drop. During his speech at Consensus 2025 in Toronto, Hoskinson criticized the current state of the crypto industry, where new tokens constantly emerge, each claiming to be superior to others. He emphasized the need for a shift from competitive to cooperative dynamics. The upcoming Glacier Drop, which is part of Midnight's privacy-focused sidechain, aims to promote peace and cooperation in the crypto space. Hoskinson revealed that the airdrop will include both the NIGHT governance token and the DUST privacy-focused transaction token, and will be distributed solely to the retail community, with no allocation to venture capitalists or early insiders. Hoskinson stated that he deliberately dismissed interest from venture capitalists, choosing instead to give the tokens away in a VC-free airdrop. Recipients of the Midnight tokens will be free to keep, trade, or discard them as they see fit. The Glacier Drop is a key component of Hoskinson's vision for 'cooperative economics,' which enables developers from different blockchain networks to build hybrid decentralized applications seamlessly. This model allows users to pay fees in their native tokens, and validators across different chains can collaboratively maintain the network, earning rewards regardless of their blockchain affiliation. Midnight is currently in testnet, with a mainnet launch expected by late 2025. Hoskinson believes that the Glacier Drop, cooperative economics, and rational privacy are essential for welcoming mainstream users as Big Tech companies enter the crypto space.