December 10, 2025 • 19 mins
Peter discusses the Midnight Redeeming and Thoring process, addressing common confusions regarding token allocation and the NewFi wallet. He provides insights into the current market situation, explains the thawing process for Knight tokens, and addresses common issues faced by users. The video concludes with a call for community engagement and support.
Takeaways
Chapters
00:00 Introduction to Midnight Redeeming and Thoring Process
02:51 Current Market Overview and Trading Insights
06:06 Understanding the Thawing Process and Token Redemption
08:59 Addressing Common Issues and Misunderstandings
11:52 Navigating the NewFi Wallet and Account Management
14:46 Conclusion and Community Engagement
DISCLAIMER: This content is for informational and educational purposes only and is not financial, investment, or legal advice. I am not affiliated with, nor compensated by, the project discussed—no tokens, payments, or incentives received. I do not hold a stake in the project, including private or future allocations. All views are my own, based on public information. Always do your own research and consult a licensed advisor before investing. Crypto investments carry high risk, and past performance is no guarantee of future results. I am not responsible for any decisions you make based on this content.
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Takeaways
- A lot of people aren't understanding what is going on with this interface.
- The price is stabilizing around the four cents mark.
- Make sure you are using the correct policy ID for trading.
- People are confused about the thawing process and token redemption.
- The thawing arrangement is designed to prevent massive sell pressure.
- The infographic explains the whole process overall, including thawing and claiming.
- You can connect your wallet to see available tokens.
- You have to redeem for all your different wallets separately.
- The NuFi wallet requires you to load up accounts with ADA to unlock them.
- Community engagement is encouraged for further questions and support.
Chapters
00:00 Introduction to Midnight Redeeming and Thoring Process
02:51 Current Market Overview and Trading Insights
06:06 Understanding the Thawing Process and Token Redemption
08:59 Addressing Common Issues and Misunderstandings
11:52 Navigating the NewFi Wallet and Account Management
14:46 Conclusion and Community Engagement
DISCLAIMER: This content is for informational and educational purposes only and is not financial, investment, or legal advice. I am not affiliated with, nor compensated by, the project discussed—no tokens, payments, or incentives received. I do not hold a stake in the project, including private or future allocations. All views are my own, based on public information. Always do your own research and consult a licensed advisor before investing. Crypto investments carry high risk, and past performance is no guarantee of future results. I am not responsible for any decisions you make based on this content.
🔗 https://www.youtube.com/watch?v=Fq8FhvxET2k
Subscribe to the audio podcast:
🔗 https://bit.ly/learncardano-spotify
🔗 https://apple.co/3jEPM8C
🔗 https://learncardano.io/
Follow on Social:
🔗 https://x.com/learncardano
🔗 https://facebook.com/learncardano
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:00):
In this bit, I'm going to go through the midnight
redeeming and thawing process. A lot of people aren't understanding
what is going on with this interface when they're looking
at it and thinking that have zero night tokens allocated
to them, So I'm going to go through all that.
I'm also going to go through the new fire wallet
process as well, because there's a little bit of confusion
on how new fire works, so I'm going to talk
(00:22):
about that, and I've got some general FAQs around the
thawing and the midnight claiming as well. So let's get
into it. Everyone. I'm Peter. If it's the first time here,
hit that thumbs up. Please, I'm almost at thirty thousand subscribers.
I just need I think ninety eight more people to
hit that subscribe button. I'll hit that thirty thousand marks,
so we're almost there, guys, So big thumbs up and
(00:43):
that subscribe button. Please get this video out there, so
let's have a look at where we're at at the moment.
This is what we're seeing with the midnight launch. If
you saw my live stream, I went through an hour
and a half session of this looking at the price
it was hovering at four cents, but now it seems
to be going up, so there's a lot more buy
orders coming through, and the amount of trading that has
(01:05):
gone through this token at the moment has been insane,
in the millions. I can't remember the final stats, but
the price is pretty much the same across all the
different dexses out there. It did drop from the initial
launch price, the launch Selle price of about roughly ten cents,
and it's hovering around half that at the moment, around
the five cent mark, so it has had a bit
(01:27):
of movement, but pretty much stabilizing at the four cents there.
You can see this all on the different decentralized exchanges
on Cadano as well, so if you're looking for a
buying price, check out the decentralized exchange. There isn't as
much liquidy on there, so please be careful when you're trading.
You're trading one hundred eight to four night tokens, the
(01:49):
slippage is a lot better and the price impact is
a lot better. But if you increase that value there,
it starts to struggle with that price level of price impact.
But the liquidity has been put on chain as well,
so that's the good and exciting thing. Now, if you
are trading on chain, make sure you are using the
correct policy ID. You can copy it from here. It's
(02:12):
easy to recognize everyone saying this. It's got a sixty
nine HECKA and boob in it. You can't remember that.
You should be able to remember that. But you can
copy this policy idea here. Go to any of the
decentralized exchanges Sunday swap mint swap a dex aggregator or
wing riders whatever it is based in the policy idea
(02:33):
at the top here there, and it will give you
the various pools that are available for trading night tokens.
So I prefer to trade it in the USD model here.
So hopefully we do see more pools with USD A
and USDM that we can do more trading against that,
and that way it matches up with what we see
(02:53):
on centralized exchanges. So this is the redeeming process itself.
So if you haven't gone through this, no, no, I've
seen on Discord every few hours when I jump onto Discord,
people are asking the same thing over and over again.
So please pass them this video. Go to midnight dot
gd slash redeem we'll give you an overview of the
(03:13):
thawing process. These are I'll talk about the thawing process
in a moment, but these are the key dates that
you need to look at. December ten, March ten, June eighth,
and September six. Just click on redeem. This will take
you to the actual interface here where you can log in,
check how many night tokens you have, and then also
start that redemption process. So here I can click on
(03:37):
redeem your night and there's various different wallets that I
can connect up. So these are all the wallets I
have instored. The easiest way is just to click on
enter and address. Copy your address, whatever wallet it might be,
even Vesper on a mobile wallet, copy that and past
it onto the interface here, click on confirm, and then
that will give you your allocation of night tokens. Now, this
(04:00):
interface here has tripped up a lot of people. I've
been accused of stealing tokens from people from that consolidation
tool that are built, and thousands of people use that tool.
But when people logging in here, they immediately see zero
night tokens and they freak out and they think that
I've stolen them. That's not the case, guys, I've got
(04:20):
a reputation to uphold here, so I'm not into scamming
people for a few cents of night tokens or whatever. Now,
if you have a look at the thawing process here,
we are currently in one of four thawing tranches, so
that this is divided up into four different periods, and
we are currently entering the first one. But if you
(04:43):
have a look at the thought date here, this is
when I can redeem my night tokens from this particular
wallet here. So let me just zoom in. We can
see it better on the video here. In fifty five days,
I'll be able to redeem my tokens. So that's why
it says redeem bill now zero. So in fifty five
days and eighteen hours and thirty minutes I can come
(05:05):
back to this portal, type in my address and I'll
be able to see my night tokens from there, this
redeem button will be enabled, and what you need to
do is send AIDA to a particular address or sign
a transaction at this point, so you can click on redeem,
a transaction window will pop up on the interface. You
need to sign that send some AIDA to that transaction
(05:29):
and then they'll send you back the ada in return
on this particular platform. So that's the process that we
need to do. And if you have a look further
down here, we can actually see the We can actually
see how many night tokens I've actually have for this
wallet here, so you can see my total allocation is
(05:49):
one thousand, just over a thousand night tokens, and how
many I have left to redeem? Is that total amount
there as well? I haven't redeemed anything yet, and I
won't be able to. Some people were very lucky and
they could redeem really early, or we'll be able to
redeem really earlier to chat, I should say, and they're
the fortunate ones because they can sell early on the market.
But who knows. We don't know where the price is going.
(06:11):
So just a few hours ago before recording this, it
was hovering at the four cents mark, but it looks
like it's jumping up and more liquidity is coming in
to buy the token, So we don't know where it's
going to be. In fifty five days. We might be
in a better off position and having this late thought
process might be better for me. I just don't know. Okay,
So let's have a look at the actual issues that
(06:34):
people are having. Some people have copied in their address correctly,
so when you're going back here and clicking on redeem
entering your address, make sure you copied your address correctly
and paste it in that field. If you don't want
to enter in your dress. You can also connect your wallet.
You can connect your wallet like Typhoon, whatever wallet you're using.
Click on confirm. That will bring up a pop up
(06:56):
that you have to authorize the allow the app adapt
to author and then it will allow you to connect
in and see your token balance. So I can connect
to I don't have anything in my Typhon wallet, but
I can click on Lace wallet there, click confirm, and
that will connect that same wallet that you saw a
little bit earlier. The other thing that people missed was
(07:17):
that the details in the interface itself as well, so
when you can actually claim and your total night tokens,
people didn't see those particular details on the interface and
thought that they had lost all their night tokens. But
make sure you're reading the interface correctly as well. If
you read the comments down here, most people are having
(07:38):
that particular issue. They just didn't read the interface correctly
and thought they had lost all of their tokens. Mark
here he mentioned that he just refreshed the page and
it came up. I too had that issue. When I
first looked at the interface, I didn't get any data
at all. I just refreshed, did it again, and then
the data came through. So there was a bit of
delay or there was some cashing or high demand on
(08:00):
the servers, so it didn't give you that correct information
straight away. But I managed to get that and it
seems all good for myself now, and a lot of
other people are saying the same thing. And this lucky
person here gets to unlock their tokens in sixteen hours,
so that was what twenty one hours ago, so I
think they've already unlocked some of their tokens, which is
(08:21):
pretty cool, pretty lucky for them. A lot of people
did get a good thawing time, so this person here
got ten days, so congrats to them. Now, some people
do think that this thawing arrangement is a little bit unfair,
and some people have a major advantage over others given
that they're not giving the same thawing time as everyone else. Now,
(08:43):
this thawing process or essentially a vesting schedule, randomized vesting
schedule for everyone is there so that the token price
doesn't have a massive amount of cell pressure all at
the same time. A lot of the other token launchers,
icos whatever, the Midnight team have been around for a
long time. It's not their first blockchain that they've launched,
(09:05):
it's not the first token that they've launched. For a
lot of these people working for the company, and to
organize like this or there isn't that massive amount of
cell pressure on the first day, I think is really smart.
I've been with projects watching them launch on day one,
seeing the price jump dramatically as liquidity is being added,
then drop to almost nothing, and then continuously drop off
(09:29):
to it to absolute nothing later on. Having this long
staggered approach stabilizes that price for a really long time.
So I think personally it's a good approach and is
better for a lot of people that can't get in
and sell at that exact point where they need to.
(09:51):
A lot of people are jumping in onto this glacier
drop and they're saying, Oh, I didn't have time to
do this, I didn't know what was going on. I
won't be around this time, you know. It's Christmas. It's
so you know, for those people having this staggered approach
is really really good. Okay, next next comment here. So
now this is an infographic that Cadano with Paul put
(10:12):
together using AI and I thought it did a brilliant job.
This really explains the whole process overall, including the thawing
process and the claiming process. So the unlocking of the
tokens happens in four equal installments of twenty five percent.
That happens ninety days after your first I'm thawing schedule.
So if you have a look at mine, for example here,
(10:34):
I'm in fifty five days. So once this one unlocks,
the next one that will happen for the second batch
will be in ninety days after this. So I've got
a long time to wait, and I've got to wait
essentially to almost the end of the whole claiming process
to be able to claim all my tokens. You can
(10:56):
see here in the redemption period ends in three hundred
and fifty nine days, so almost a year's time. That
we have almost essentially a year to be able to
claim all these tokens. Now, the actual claiming process, I
don't have a wallet to show you how that's all
going to work, And you could see from my dates
my wallets that I've got a long time to wait
(11:16):
to be able to claim it. But essentially you be
able to go to that redeem platform itself, click on
the redeem button and like I said, that will come
prompt you with a transaction confirmation and you will need
to pay an AIDA fee of some sort to be
able to claim that token. So if you don't have
any AIDA in that wallet, you'll need to load it
(11:37):
up with some AIDA. Now, there were some platforms that
allowed you to anomously move AIDA into a particular wallet
using some very interesting privacy tools. End Coins was the
platform that allowed you to do that. But their platform
is down at the moment, and I don't know if
they're going to fire it back up again. I don't
think they had enough users using that platform. Unfortunate, but
(12:00):
that would have been really good to hide where the
AD is coming from. Putting it into your wallet so
you can actually start redeeming all of your tokens would
have been nice. Maybe I'll talk to the team there
are end coins and try and get that platform back
up and running. But once you pay that token fee,
that transaction fees, you'll be able to get to your
Night tookens to your wallet. Now if you haven't, if
(12:23):
you've been in the Candona ecosystem for a long time,
you'll be very familiar with this. This is how drip
drops works and some other token claiming platforms that these
type of platforms here allow you to get all these
tokens that are being distributed to the Candona ecosystem. You
can go there, you can connect your wallet, see what
tokens are available for your particular wallet, and then go
(12:46):
through that same claiming process. So whatever the drip drops
team came up with here, IOG and the Midnight team
are probably using something very similar like that for their
redeem process. Maybe they even worked that team to actually
get that stuff done, so I wouldn't be surprised at all. Actually,
if you have used drip drops before or if you
(13:07):
want to practice using it, drip drops a very credible team.
So you can connect your wallet here and just have
a play around with it so you can experience what
it would be like to claim something through the Midnight
portal too. Next question here, do you know if we
have to redeem the Glacier Drop or do we just
redeem the Scavenger. Mind, this is for both. So I've
(13:29):
got one separate wallet for the Glacier Drop and then
one separate wallet for the Scavenger of mining and both.
I have to go through this whole redeeming process, so
whatever it is. If you even consolidate all into one,
then you just have to do one. But I have
multiple separate wallets, so you have to redeem it for
all your different wats that you use for the Glacier drop.
(13:49):
In general, Hello, where can I check my Midnight token allocation?
The site it is, like I said, redeem dot midnight
dot g D hype it into Google. You should be.
It should direct you to the main redeem website here
where you can start the redemption process. Sadly, you try
to redeem my tokens, but my ledger wouldn't sign. Then
(14:12):
as I kept trying, it eventually said in valid Cadano address,
So I've missed out. I'm still a bit newbie to
these things. Now, if you're trying to redeem your tokens
now before the portal actually allows you to, yeah, you
wouldn't be able to. You can see here on the
redeem portal. I can't even click that. So I don't
(14:33):
know how you got past the next point, but you
should be able to redeem on a Ledger I've got.
I'm using a Ledger hardware wallets various hardware wallets for
this process as well. I've been able to go through
and step through the process. I might need to just
double check what you're doing just to get through the process. Now,
this last question here, and this is probably anyone that
(14:54):
has mined using Newfi. Hello, I've mind Midnight on new
Fire using multiple wallets on different browsers. My question is
how can I see my other accounts on New Fi.
I've only ever seen one, but I had ten different
ones that I can not on longer access. Why, now,
let me show you how this works. In one of
(15:16):
my other videos, I did go through and show exactly
how it all works. So let me just open up
my new Fire wallet and I will step you through this. Okay,
So this is my New Fi wallet here, and you
would have participated in the Midnight's mining events here, and
you would have opened up lots of different wallet addresses
and you would have seen them all displayed below. Now
(15:38):
that's working anymore because it is all disabled now I'm
surprised I haven't updated that of the interface. But to
get those wallet addresses back, all you need to do
is go to your wallet. So click on portfolio and
then click on accounts. Than the top there, click on
accounts and here you can only see that why address
(16:00):
that you had that one single account. What you can
do now is click on ad account, add new, choose
the blockchain that you want. Then from here you can
start adding in the extra accounts that would have that
should have been assigned to your particular mining event. So
(16:20):
you may have had ten, so you have to repeat
this process ten or so times. So I'm going to
click on continue eight A two that will do start
using account. There we go. So now I've got my
second one there. Now I just need to repeat that
process over and over again until I have multiple accounts
or loaded up on this particularly interface. Now there there
(16:42):
is a caveat there with the adding of the new accounts.
For some reason, you five decided to put in this
slight barrier here. You cannot create another account until you've
used the previous one. That won't appear until or won't
allow you to add a new one until you've actually
use this address this one here. You can see I've
(17:02):
added in one AIDA to it. But now I'll probably
just copy this address here, look on that particular wallet there,
and I'll go send send to that other address that
I had it's in And as you can see, one
AIDA isn't enough, so I need to load up my
wallet here with more AIDA so that way I can
actually send to all the different addresses to be able
(17:24):
to unlock them. So, I don't know why it's designed
like that. All the other Codono wallets such as Lace
or Typhoon or whatever, it allows you to open up
multiple different wallet addresses without needing to load it up
with any aider. So it's a bit of a weird thing.
If you have complaints about that, talk to the new
five team. Maybe they'll do something about it. I don't know,
(17:47):
but I doubt they'll do anything about it at this time.
But that's how you unlock your different accounts or your
other different addresses. Unfortunately, if you did do ten or
so mining addresses, you're going to have to do this
process again and again get those addresses so that way
you know what your address is and you can go
through this claiming process. Sorry, be the bearer of bad
(18:07):
news on that one. If I did get that wrong
for whatever reason, because I'm not claiming through Newfi, correct me.
Leave a comment down below. I'd love to hear your
experiences with that, so if you have any problems with
the whole redeeming, the claiming, the thawing process, if you
have any further questions, I'd love to be able to
take your questions and answer them in the comments down
(18:29):
below other people that have same or similar questions and
get the answers from the comments too, So please leave
a comment down below. If you got something out of
this video, make sure you hit that thumbs up, hit
that subscribe button, get me to that thirty thousand subscriber mark.
I'm almost there, guys, please hit the subscribe button and
click on that notification bell. If you want to support
(18:50):
me in other ways, I've got to buy me a
coffee links here, Patreon links here, and of course YouTube
memberships down below. I've also got a product of merch
range coming out as well. You can see the links
down below as well, so if you want to support
that way, multiple different ways that you can support, and
you can get some cool Cadani related merch too, awesome, guys.
I'll see you guys in the next video when everyone
(19:13):
starts thawing, or some of us will start thawing our
night tokens and see where the market goes next. I'm
pretty excited about midnight and I'll see you guys in
the next video.
In this bit, I'm going to go through the midnight
redeeming and thawing process. A lot of people aren't understanding
what is going on with this interface when they're looking
at it and thinking that have zero night tokens allocated
to them, So I'm going to go through all that.
I'm also going to go through the new fire wallet
process as well, because there's a little bit of confusion
on how new fire works, so I'm going to talk
(00:22):
about that, and I've got some general FAQs around the
thawing and the midnight claiming as well. So let's get
into it. Everyone. I'm Peter. If it's the first time here,
hit that thumbs up. Please, I'm almost at thirty thousand subscribers.
I just need I think ninety eight more people to
hit that subscribe button. I'll hit that thirty thousand marks,
so we're almost there, guys, So big thumbs up and
(00:43):
that subscribe button. Please get this video out there, so
let's have a look at where we're at at the moment.
This is what we're seeing with the midnight launch. If
you saw my live stream, I went through an hour
and a half session of this looking at the price
it was hovering at four cents, but now it seems
to be going up, so there's a lot more buy
orders coming through, and the amount of trading that has
(01:05):
gone through this token at the moment has been insane,
in the millions. I can't remember the final stats, but
the price is pretty much the same across all the
different dexses out there. It did drop from the initial
launch price, the launch Selle price of about roughly ten cents,
and it's hovering around half that at the moment, around
the five cent mark, so it has had a bit
(01:27):
of movement, but pretty much stabilizing at the four cents there.
You can see this all on the different decentralized exchanges
on Cadano as well, so if you're looking for a
buying price, check out the decentralized exchange. There isn't as
much liquidy on there, so please be careful when you're trading.
You're trading one hundred eight to four night tokens, the
(01:49):
slippage is a lot better and the price impact is
a lot better. But if you increase that value there,
it starts to struggle with that price level of price impact.
But the liquidity has been put on chain as well,
so that's the good and exciting thing. Now, if you
are trading on chain, make sure you are using the
correct policy ID. You can copy it from here. It's
(02:12):
easy to recognize everyone saying this. It's got a sixty
nine HECKA and boob in it. You can't remember that.
You should be able to remember that. But you can
copy this policy idea here. Go to any of the
decentralized exchanges Sunday swap mint swap a dex aggregator or
wing riders whatever it is based in the policy idea
(02:33):
at the top here there, and it will give you
the various pools that are available for trading night tokens.
So I prefer to trade it in the USD model here.
So hopefully we do see more pools with USD A
and USDM that we can do more trading against that,
and that way it matches up with what we see
(02:53):
on centralized exchanges. So this is the redeeming process itself.
So if you haven't gone through this, no, no, I've
seen on Discord every few hours when I jump onto Discord,
people are asking the same thing over and over again.
So please pass them this video. Go to midnight dot
gd slash redeem we'll give you an overview of the
(03:13):
thawing process. These are I'll talk about the thawing process
in a moment, but these are the key dates that
you need to look at. December ten, March ten, June eighth,
and September six. Just click on redeem. This will take
you to the actual interface here where you can log in,
check how many night tokens you have, and then also
start that redemption process. So here I can click on
(03:37):
redeem your night and there's various different wallets that I
can connect up. So these are all the wallets I
have instored. The easiest way is just to click on
enter and address. Copy your address, whatever wallet it might be,
even Vesper on a mobile wallet, copy that and past
it onto the interface here, click on confirm, and then
that will give you your allocation of night tokens. Now, this
(04:00):
interface here has tripped up a lot of people. I've
been accused of stealing tokens from people from that consolidation
tool that are built, and thousands of people use that tool.
But when people logging in here, they immediately see zero
night tokens and they freak out and they think that
I've stolen them. That's not the case, guys, I've got
(04:20):
a reputation to uphold here, so I'm not into scamming
people for a few cents of night tokens or whatever. Now,
if you have a look at the thawing process here,
we are currently in one of four thawing tranches, so
that this is divided up into four different periods, and
we are currently entering the first one. But if you
(04:43):
have a look at the thought date here, this is
when I can redeem my night tokens from this particular
wallet here. So let me just zoom in. We can
see it better on the video here. In fifty five days,
I'll be able to redeem my tokens. So that's why
it says redeem bill now zero. So in fifty five
days and eighteen hours and thirty minutes I can come
(05:05):
back to this portal, type in my address and I'll
be able to see my night tokens from there, this
redeem button will be enabled, and what you need to
do is send AIDA to a particular address or sign
a transaction at this point, so you can click on redeem,
a transaction window will pop up on the interface. You
need to sign that send some AIDA to that transaction
(05:29):
and then they'll send you back the ada in return
on this particular platform. So that's the process that we
need to do. And if you have a look further
down here, we can actually see the We can actually
see how many night tokens I've actually have for this
wallet here, so you can see my total allocation is
(05:49):
one thousand, just over a thousand night tokens, and how
many I have left to redeem? Is that total amount
there as well? I haven't redeemed anything yet, and I
won't be able to. Some people were very lucky and
they could redeem really early, or we'll be able to
redeem really earlier to chat, I should say, and they're
the fortunate ones because they can sell early on the market.
But who knows. We don't know where the price is going.
(06:11):
So just a few hours ago before recording this, it
was hovering at the four cents mark, but it looks
like it's jumping up and more liquidity is coming in
to buy the token, So we don't know where it's
going to be. In fifty five days. We might be
in a better off position and having this late thought
process might be better for me. I just don't know. Okay,
So let's have a look at the actual issues that
(06:34):
people are having. Some people have copied in their address correctly,
so when you're going back here and clicking on redeem
entering your address, make sure you copied your address correctly
and paste it in that field. If you don't want
to enter in your dress. You can also connect your wallet.
You can connect your wallet like Typhoon, whatever wallet you're using.
Click on confirm. That will bring up a pop up
(06:56):
that you have to authorize the allow the app adapt
to author and then it will allow you to connect
in and see your token balance. So I can connect
to I don't have anything in my Typhon wallet, but
I can click on Lace wallet there, click confirm, and
that will connect that same wallet that you saw a
little bit earlier. The other thing that people missed was
(07:17):
that the details in the interface itself as well, so
when you can actually claim and your total night tokens,
people didn't see those particular details on the interface and
thought that they had lost all their night tokens. But
make sure you're reading the interface correctly as well. If
you read the comments down here, most people are having
(07:38):
that particular issue. They just didn't read the interface correctly
and thought they had lost all of their tokens. Mark
here he mentioned that he just refreshed the page and
it came up. I too had that issue. When I
first looked at the interface, I didn't get any data
at all. I just refreshed, did it again, and then
the data came through. So there was a bit of
delay or there was some cashing or high demand on
(08:00):
the servers, so it didn't give you that correct information
straight away. But I managed to get that and it
seems all good for myself now, and a lot of
other people are saying the same thing. And this lucky
person here gets to unlock their tokens in sixteen hours,
so that was what twenty one hours ago, so I
think they've already unlocked some of their tokens, which is
(08:21):
pretty cool, pretty lucky for them. A lot of people
did get a good thawing time, so this person here
got ten days, so congrats to them. Now, some people
do think that this thawing arrangement is a little bit unfair,
and some people have a major advantage over others given
that they're not giving the same thawing time as everyone else. Now,
(08:43):
this thawing process or essentially a vesting schedule, randomized vesting
schedule for everyone is there so that the token price
doesn't have a massive amount of cell pressure all at
the same time. A lot of the other token launchers,
icos whatever, the Midnight team have been around for a
long time. It's not their first blockchain that they've launched,
(09:05):
it's not the first token that they've launched. For a
lot of these people working for the company, and to
organize like this or there isn't that massive amount of
cell pressure on the first day, I think is really smart.
I've been with projects watching them launch on day one,
seeing the price jump dramatically as liquidity is being added,
then drop to almost nothing, and then continuously drop off
(09:29):
to it to absolute nothing later on. Having this long
staggered approach stabilizes that price for a really long time.
So I think personally it's a good approach and is
better for a lot of people that can't get in
and sell at that exact point where they need to.
(09:51):
A lot of people are jumping in onto this glacier
drop and they're saying, Oh, I didn't have time to
do this, I didn't know what was going on. I
won't be around this time, you know. It's Christmas. It's
so you know, for those people having this staggered approach
is really really good. Okay, next next comment here. So
now this is an infographic that Cadano with Paul put
(10:12):
together using AI and I thought it did a brilliant job.
This really explains the whole process overall, including the thawing
process and the claiming process. So the unlocking of the
tokens happens in four equal installments of twenty five percent.
That happens ninety days after your first I'm thawing schedule.
So if you have a look at mine, for example here,
(10:34):
I'm in fifty five days. So once this one unlocks,
the next one that will happen for the second batch
will be in ninety days after this. So I've got
a long time to wait, and I've got to wait
essentially to almost the end of the whole claiming process
to be able to claim all my tokens. You can
(10:56):
see here in the redemption period ends in three hundred
and fifty nine days, so almost a year's time. That
we have almost essentially a year to be able to
claim all these tokens. Now, the actual claiming process, I
don't have a wallet to show you how that's all
going to work, And you could see from my dates
my wallets that I've got a long time to wait
(11:16):
to be able to claim it. But essentially you be
able to go to that redeem platform itself, click on
the redeem button and like I said, that will come
prompt you with a transaction confirmation and you will need
to pay an AIDA fee of some sort to be
able to claim that token. So if you don't have
any AIDA in that wallet, you'll need to load it
(11:37):
up with some AIDA. Now, there were some platforms that
allowed you to anomously move AIDA into a particular wallet
using some very interesting privacy tools. End Coins was the
platform that allowed you to do that. But their platform
is down at the moment, and I don't know if
they're going to fire it back up again. I don't
think they had enough users using that platform. Unfortunate, but
(12:00):
that would have been really good to hide where the
AD is coming from. Putting it into your wallet so
you can actually start redeeming all of your tokens would
have been nice. Maybe I'll talk to the team there
are end coins and try and get that platform back
up and running. But once you pay that token fee,
that transaction fees, you'll be able to get to your
Night tookens to your wallet. Now if you haven't, if
(12:23):
you've been in the Candona ecosystem for a long time,
you'll be very familiar with this. This is how drip
drops works and some other token claiming platforms that these
type of platforms here allow you to get all these
tokens that are being distributed to the Candona ecosystem. You
can go there, you can connect your wallet, see what
tokens are available for your particular wallet, and then go
(12:46):
through that same claiming process. So whatever the drip drops
team came up with here, IOG and the Midnight team
are probably using something very similar like that for their
redeem process. Maybe they even worked that team to actually
get that stuff done, so I wouldn't be surprised at all. Actually,
if you have used drip drops before or if you
(13:07):
want to practice using it, drip drops a very credible team.
So you can connect your wallet here and just have
a play around with it so you can experience what
it would be like to claim something through the Midnight
portal too. Next question here, do you know if we
have to redeem the Glacier Drop or do we just
redeem the Scavenger. Mind, this is for both. So I've
(13:29):
got one separate wallet for the Glacier Drop and then
one separate wallet for the Scavenger of mining and both.
I have to go through this whole redeeming process, so
whatever it is. If you even consolidate all into one,
then you just have to do one. But I have
multiple separate wallets, so you have to redeem it for
all your different wats that you use for the Glacier drop.
(13:49):
In general, Hello, where can I check my Midnight token allocation?
The site it is, like I said, redeem dot midnight
dot g D hype it into Google. You should be.
It should direct you to the main redeem website here
where you can start the redemption process. Sadly, you try
to redeem my tokens, but my ledger wouldn't sign. Then
(14:12):
as I kept trying, it eventually said in valid Cadano address,
So I've missed out. I'm still a bit newbie to
these things. Now, if you're trying to redeem your tokens
now before the portal actually allows you to, yeah, you
wouldn't be able to. You can see here on the
redeem portal. I can't even click that. So I don't
(14:33):
know how you got past the next point, but you
should be able to redeem on a Ledger I've got.
I'm using a Ledger hardware wallets various hardware wallets for
this process as well. I've been able to go through
and step through the process. I might need to just
double check what you're doing just to get through the process. Now,
this last question here, and this is probably anyone that
(14:54):
has mined using Newfi. Hello, I've mind Midnight on new
Fire using multiple wallets on different browsers. My question is
how can I see my other accounts on New Fi.
I've only ever seen one, but I had ten different
ones that I can not on longer access. Why, now,
let me show you how this works. In one of
(15:16):
my other videos, I did go through and show exactly
how it all works. So let me just open up
my new Fire wallet and I will step you through this. Okay,
So this is my New Fi wallet here, and you
would have participated in the Midnight's mining events here, and
you would have opened up lots of different wallet addresses
and you would have seen them all displayed below. Now
(15:38):
that's working anymore because it is all disabled now I'm
surprised I haven't updated that of the interface. But to
get those wallet addresses back, all you need to do
is go to your wallet. So click on portfolio and
then click on accounts. Than the top there, click on
accounts and here you can only see that why address
(16:00):
that you had that one single account. What you can
do now is click on ad account, add new, choose
the blockchain that you want. Then from here you can
start adding in the extra accounts that would have that
should have been assigned to your particular mining event. So
(16:20):
you may have had ten, so you have to repeat
this process ten or so times. So I'm going to
click on continue eight A two that will do start
using account. There we go. So now I've got my
second one there. Now I just need to repeat that
process over and over again until I have multiple accounts
or loaded up on this particularly interface. Now there there
(16:42):
is a caveat there with the adding of the new accounts.
For some reason, you five decided to put in this
slight barrier here. You cannot create another account until you've
used the previous one. That won't appear until or won't
allow you to add a new one until you've actually
use this address this one here. You can see I've
(17:02):
added in one AIDA to it. But now I'll probably
just copy this address here, look on that particular wallet there,
and I'll go send send to that other address that
I had it's in And as you can see, one
AIDA isn't enough, so I need to load up my
wallet here with more AIDA so that way I can
actually send to all the different addresses to be able
(17:24):
to unlock them. So, I don't know why it's designed
like that. All the other Codono wallets such as Lace
or Typhoon or whatever, it allows you to open up
multiple different wallet addresses without needing to load it up
with any aider. So it's a bit of a weird thing.
If you have complaints about that, talk to the new
five team. Maybe they'll do something about it. I don't know,
(17:47):
but I doubt they'll do anything about it at this time.
But that's how you unlock your different accounts or your
other different addresses. Unfortunately, if you did do ten or
so mining addresses, you're going to have to do this
process again and again get those addresses so that way
you know what your address is and you can go
through this claiming process. Sorry, be the bearer of bad
(18:07):
news on that one. If I did get that wrong
for whatever reason, because I'm not claiming through Newfi, correct me.
Leave a comment down below. I'd love to hear your
experiences with that, so if you have any problems with
the whole redeeming, the claiming, the thawing process, if you
have any further questions, I'd love to be able to
take your questions and answer them in the comments down
(18:29):
below other people that have same or similar questions and
get the answers from the comments too, So please leave
a comment down below. If you got something out of
this video, make sure you hit that thumbs up, hit
that subscribe button, get me to that thirty thousand subscriber mark.
I'm almost there, guys, please hit the subscribe button and
click on that notification bell. If you want to support
(18:50):
me in other ways, I've got to buy me a
coffee links here, Patreon links here, and of course YouTube
memberships down below. I've also got a product of merch
range coming out as well. You can see the links
down below as well, so if you want to support
that way, multiple different ways that you can support, and
you can get some cool Cadani related merch too, awesome, guys.
I'll see you guys in the next video when everyone
(19:13):
starts thawing, or some of us will start thawing our
night tokens and see where the market goes next. I'm
pretty excited about midnight and I'll see you guys in
the next video.
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