# Launch NIGHT Market at start of Claim phase 1 Glacier Drop

**URL:** <https://gov.liqwid.finance/t/launch-night-market-at-start-of-claim-phase-1-glacier-drop/1899>\
**Category:** New Markets\
**Created:** [July 29, 2025, 10:45am UTC](https://gov.liqwid.finance/t/launch-night-market-at-start-of-claim-phase-1-glacier-drop/1899 "2025-07-29T10:45:03Z")\
**Posts on this page:** 1\
**Page:** 1

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**Author:** ![DC1](https://yyz2.discourse-cdn.com/flex010/user_avatar/gov.liqwid.finance/dc1/32/171_2.png) [@DC1](https://gov.liqwid.finance/u/DC1)\
**Post date:** [July 29, 2025, 10:45am UTC](https://gov.liqwid.finance/t/launch-night-market-at-start-of-claim-phase-1-glacier-drop/1899/1 "2025-07-29T10:45:03Z")

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**Summary**  
This proposal aims to deploy a new market for NIGHT and collateral support for NIGHT launched during the start of the Claim phase 1 Glacier Drop. Midnight is a data-protection blockchain built that enables applications to safeguard user, commercial, and transaction metadata. It uses zero-knowledge (ZK) proofs to provide utility without compromising privacy. It is estimated the NIGHT Claim phase 1 Glacier Drop will launch during H2 2025. NIGHT tokens distribution mechanism and token allocation are described within the Midnight tokenomics and incentives whitepaper: [https://45047878.fs1.hubspotusercontent-na1.net/hubfs/45047878/Midnight-Tokenomics-And-Incentives-Whitepaper.pdf  
 ](https://45047878.fs1.hubspotusercontent-na1.net/hubfs/45047878/Midnight-Tokenomics-And-Incentives-Whitepaper.pdf)

**Official Links**  
[https://www.midnight.gd/  
 ](https://www.midnight.gd/)[https://docs.midnight.network/  
 ](https://docs.midnight.network/)[https://midnight.foundation/  
 ](https://midnight.foundation/)

**Reasoning**  
Support for NIGHT during its highly anticipated token generation event allows Liqwid to provide instant liquidity to NIGHT holders and ability to earn yield on NIGHT deposits. As NIGHT will be airdropped to millions of users across several public blockchains this represents a unique opportunity for the Liqwid protocol to grow its new user base and increase borrow volumes.

Supporting NIGHT as collateral to enable instant loans against NIGHT holdings and providing yield for NIGHT lenders allows the Liqwid protocol to service new users while generating new revenue for the DAO.

**Proposed Risk Parameters**  
We propose NIGHT risk parameters to match ADA risk parameters for each parameter except supply cap which will be conservatively set upon initial price discovery on Cardano DEX’s and centralized exchanges. Based on the developing DEX liquidity and centralized exchange volume figures 24 hours after launch the supply cap will be adjusted as required.

\*Note: Current ADA risk parameters:  
LiquidationLTV 81.00%  
MaxLTV 80.89%  
Liquidation Penalty 10.00%  
Liquidation Profit (earned by liquidators) 11.11%

**Interest Rate Parameters**

 ![Screenshot 2025-07-29 at 3.40.30 AM](https://canada1.discourse-cdn.com/flex010/uploads/liqwid/original/1X/ccdd317dd7a87d1a3420f97d61f9d3d38c6a9d6d.jpeg)

The proposed interest rate parameters will be set equal to the ADA market current interest rate parameters. The resulting curves and simulated APYs based on utilization can be seen in the ADA market details page on the Liqwid app: [Liqwid App](https://v2.liqwid.finance/market/Ada)

**Technical Considerations**  
The Liqwid DAO Core Team will be responsible for implementing the NIGHT oracle price feed during the initial token generation event utilizing Liqwid’s oracle risk safety features such as the price collision algorithm and onchain price hardcaps set with an upper and lower bound.

**Conclusion**  
NIGHT Claim phase 1 Glacier Drop is a highly anticipated event for Cardano and multiple other chains with millions of users receiving the initial NIGHT airdrop. This unique launch event represents an ability for Liqwid to significantly grow its new user base and expand volumes across key metrics. The Liqwid DAO Core Team recommends supporting this proposal.

Do you support this proposal?

_Poll ([view on site](https://gov.liqwid.finance/t/launch-night-market-at-start-of-claim-phase-1-glacier-drop/1899/1))_