Cardano founder Charles Hoskinson has continued to commend Midnight, this time highlighting how it is shining the light on the Cardano ecosystem.
Hoskinson appeared on the Crypto Crow show with host Jason Appleton on Wednesday to discuss the Cardano ecosystem. Notably, one of the hottest highlights was his bold statements on the impact of the Midnight project on Cardano.
Hoskinson called Midnight the “most transformational project in the history of Cardano,” highlighting its perks to the network. He noted that the Midnight project moved Cardano from a closed ecosystem to one striking multiple partnerships with major industry players.
Furthermore, the IOG CEO noted that Midnight will fix some of the major Cardano setbacks, such as the oracle and stablecoin problems. For perspective, while Cardano has oracle solutions such as Charli3 and Orcfax, they have not quite achieved the required adoption.
Stablecoin traction also remains comparably low on Cardano as against its peers like Solana and Ethereum. Specifically, Cardano ranks 48th in the stablecoin market cap ranking per DeFiLlama, with just $37.5 million. This is meager in comparison to Ethereum’s $162.3 billion, Tron’s $78.35 billion, and Solana’s $15.64 billion.
Hoskinson noted that this sector would receive major boosts with Midnight. Meanwhile, he did not provide further context on how this would happen.
Additionally, Hoskinson revealed that Midnight would become the first Cardano native token to be listed on every major exchange. This event, which he noted is “an inevitability,” aligns with his earlier assertion that Midnight will debut as the largest Cardano token.
Remarkably, the clock is ticking on the mainnet launch of Midnight. The privacy-focused Cardano sidechain is set to debut later in Q4 2025, with the “Glacier Drop” already done.
For the uninitiated, the drop event marked the distribution phase of the NIGHT token to eligible holders across eight blockchains. The Midnight team planned to airdrop about 24 billion NIGHT tokens, claimable on its platform.
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