Charles Hoskinson Announces Midnight Airdrop for XRP Holders

Cardano founder Charles Hoskinson has unveiled a new vision for deeper collaboration between Cardano and XRP. The key to this partnership is Midnight, Cardano’s privacy-focused sidechain, which could soon serve as the DeFi engine for XRP.

Unlocking DeFi Without Leaving XRPL

Hoskinson explained during a recent AMA that Midnight is designed to let XRP users tap into DeFi features like staking, lending, and liquidity pools, without having to move their tokens off the XRP Ledger. Since XRP doesn’t support smart contracts, this sidechain integration could offer the ecosystem a new layer of utility while allowing users to keep their assets secure on-chain.

Midnight uses zero-knowledge cryptography to allow confidential smart contracts. This means users can interact with DeFi apps while keeping their financial data private. It’s a powerful upgrade that could significantly enhance what XRP holders can do with their tokens.

From Wallets to Stablecoins

The collaboration doesn’t stop with Midnight. Hoskinson confirmed that Cardano’s Lace Wallet will soon support XRP, allowing holders to manage multiple assets under one interface. There are also ongoing discussions to integrate Ripple’s RLUSD stablecoin into the Cardano ecosystem, providing a USD-pegged liquidity option for DeFi platforms operating on Midnight.

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Hoskinson revealed that he has spoken with Ripple executives, including CTO David Schwartz and CEO Brad Garlinghouse, to ensure smooth integration between Midnight and the XRP Ledger. The goal is to integrate Cardano’s advanced smart contract capabilities with XRP’s robust liquidity and cross-border capabilities.

To spark interest and user activity, Cardano has launched two airdrop campaigns: the Midnight Drop and Glacier Drop. XRP holders with at least $100 worth of XRP as of June 11, 2025, are eligible to claim a portion of the 1.2 billion NIGHT tokens, the governance token for Midnight.

Midnight is already live on testnet, and its mainnet launch is expected later this year. Once live, it will support interactions across multiple chains, including Ethereum, Solana, Avalanche, and now XRPL, strengthening Cardano’s multi-chain ambitions.