midnight-mcp 0.1.2 → 0.1.3
This diff represents the content of publicly available package versions that have been released to one of the supported registries. The information contained in this diff is provided for informational purposes only and reflects changes between package versions as they appear in their respective public registries.
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@@ -892,6 +892,282 @@ export circuit unpause(): [] {
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892
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3. **Test pause scenarios** thoroughly
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893
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4. **Document pause conditions** for users
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5. **Consider timelock** for unpause in high-value contracts
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`,
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"midnight://docs/tokenomics": `# Midnight Tokenomics and Incentives Whitepaper
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## Overview
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Midnight introduces a novel dual-component tokenomics system with NIGHT (utility token) and DUST (transaction resource), designed for operational predictability, privacy, and cross-chain cooperation.
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## Core Pillars
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1. **Operational Predictability**: NIGHT generates DUST continuously, enabling transactions without direct token expenditure
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2. **Rational Privacy**: DUST is shielded - transactions don't leave metadata trails
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3. **Cooperative Tokenomics**: Multi-chain architecture enables cross-chain value creation
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907
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4. **Fair Distribution**: Free, multi-phase token distribution (Glacier Drop)
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---
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911
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## The NIGHT Token
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NIGHT is Midnight's native utility token. One NIGHT = 1,000,000 STARs.
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915
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### Key Properties
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- **Unshielded**: NIGHT transactions are publicly visible on-chain
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- **Transferable**: Can be freely transferred, listed on exchanges, bridged across networks
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- **Total Supply**: 24 billion NIGHT tokens
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- **Non-expendable**: Not consumed to execute transactions
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- **Disinflationary**: Circulating supply expansion slows over time
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- **Multi-chain Native**: Exists natively on both Cardano (as Native Asset) and Midnight
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### Stakeholders
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- **NIGHT Token Holders**: Control future network governance
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- **Midnight Block Producers (MBPs)**: Validate blocks, receive rewards
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- **Midnight Foundation**: Long-term ecosystem development
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- **On-chain Treasury**: Protocol-managed fund for ecosystem growth
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- **Reserve**: Protocol-managed pool for block production rewards
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### Cross-Chain Token States
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Tokens can be:
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- **Protocol-locked**: Cannot move or generate DUST
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- **Protocol-unlocked**: Full utility and transferability
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Key invariant: A token unlocked on one chain is locked on the other, ensuring effective supply never exceeds 24 billion.
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### Cross-Chain Invariants
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\`\`\`
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C.R + C.L + C.U = M.R + M.L + M.U = S (24 billion)
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Where:
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- C = Cardano, M = Midnight
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- R = Reserve, L = Locked, U = Unlocked
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- S = Total Supply
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\`\`\`
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---
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## The DUST Resource
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DUST is the shielded, renewable resource for transaction fees.
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### Key Properties
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- **Shielded**: Transactions don't expose wallet addresses or details
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- **Consumable**: Burned when used (not recycled)
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- **Renewable**: Continuously generated by NIGHT holdings
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- **Decaying**: Balance decays when disassociated from generating NIGHT
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- **Non-transferable**: Cannot be bought, sold, or transferred between addresses
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- **MEV-resistant**: Shielding prevents attackers from identifying victims
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### DUST Mechanics
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**Generation**:
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1. NIGHT holder designates a DUST recipient address
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2. DUST accumulates linearly over time up to a cap
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3. Cap is proportional to associated NIGHT balance
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**DUST Cap**: Maximum DUST = f(associated NIGHT balance)
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**Usage**:
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- DUST is consumed/burned when used
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- No DUST is collected by block producers
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- Generation resumes after use if below cap
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**Decay**:
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- Severing NIGHT association causes linear decay
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- Prevents double-spending through cap enforcement
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### DUST Beneficiaries
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1. **NIGHT Holders**: Generate and use their own DUST
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2. **DUST Recipients**: Receive DUST generation from NIGHT holders
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3. **DUST Sponsees**: Transactions paid by a DUST holder (enables tokenless UX)
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---
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## Transaction Fees
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### Components
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\`\`\`
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TxFee = CongestionRate × TxWeight + MinFee
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\`\`\`
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- **Minimum Fee**: Fixed fee preventing DDoS attacks
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- **Congestion Rate**: Dynamic multiplier based on network demand
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- **Transaction Weight**: Based on computational resources (initially storage in KB)
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### Block Utilization Target: 50%
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- Below 50%: Fees decrease to stimulate activity
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- Above 50%: Fees increase to manage congestion
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- Acts as automatic stabilizer for network efficiency
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---
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## Block Production & Rewards
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### At Launch
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- Federated block production by trusted permissioned nodes
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- Initial producers don't receive rewards
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- Progressive decentralization planned
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### Moving to Permissionless
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- Cardano SPOs can become Midnight Block Producers
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- Selection proportional to delegated ADA stake
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- Dual-network participation doesn't affect Cardano rewards
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### Block Reward Formula
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**Base Distribution Rate (R)**:
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\`\`\`
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R = π(1 - B - T) / (B × γ)
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Where:
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- π = Initial annual inflation rate (~3.14%)
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- B = Reserve allocation percentage
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- T = Treasury allocation percentage
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- γ = Blocks per year
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\`\`\`
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**Base Reward**:
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\`\`\`
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Nb = Bo × R
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Where Bo = Outstanding tokens in Reserve
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\`\`\`
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### Reward Split
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Rewards divided between block producer and Treasury based on block utilization:
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\`\`\`
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Actual Reward (Na) = Nb × [S + (1 - S) × U]
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Treasury Share (Nt) = Nb - Na
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Where:
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- S = Subsidy rate (95% at launch)
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- U = Block utilization ratio
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\`\`\`
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- **Full block**: Producer gets 100% of base reward
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- **Empty block**: Producer gets only the subsidy (95%)
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- **Partially full**: Linear interpolation between them
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---
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## Token Distribution
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### Design Principles
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- **Broad**: No single party dominates
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- **Inclusive**: Open to participants beyond crypto
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- **Free**: Allocated at no cost
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- **Transparent**: Open-source audited smart contracts
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### Phase 1: Glacier Drop (60 days)
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**Eligible Networks**:
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- Cardano (50% allocation)
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- Bitcoin (20% allocation)
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- Ethereum, Solana, XRPL, BNB Chain, Avalanche, Brave (remaining 30%, proportional)
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**Eligibility**:
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- Minimum $100 USD equivalent in native tokens at snapshot
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- Address not on OFAC sanctions list
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- Random historical snapshot to prevent gaming
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**Mechanics**:
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1. Sign message proving address ownership
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2. Provide unused Cardano address for redemption
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3. Tokens initially frozen, thaw during redemption period
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### Phase 2: Scavenger Mine (30 days)
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- Process unclaimed Glacier Drop tokens
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- Computational puzzles accessible to general public
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- Daily allocation over 30 one-day slots
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**Apportionment of Unclaimed Tokens**:
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- ~35% → Midnight Foundation
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- ~30% → Reserve (block rewards)
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- ~10% → Midnight TGE (partnerships/liquidity)
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- ~5% → On-chain Treasury
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- Rest → Scavenger Mine participants + Lost-and-Found
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### Phase 3: Lost-and-Found (4 years)
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- Second chance for eligible non-claimers from Glacier Drop
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- Fractional allocation of original entitlement
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- After 4 years, unclaimed tokens go to Treasury
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### Redemption Period (450 days)
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**Thawing Schedule**:
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- Random start day (1-90 days after genesis)
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- 25% unlock at start, then every 90 days
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- Total: 4 unlocks over 360 days
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---
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## Cooperative Tokenomics
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### Capacity Marketplace
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Enables non-NIGHT holders to access Midnight:
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**Off-chain Models**:
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- DUST generation leasing
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- Broker-managed leasing
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- Babel Station (DUST filling station using ZSwap)
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**On-chain Models** (future):
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- Ledger-native capacity leasing
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- On-chain capacity exchange
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### Multi-chain Features
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**Cross-chain Observability**: Actions on one chain trigger agents on another
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**Multichain Signatures**: Treasury can receive fees in other tokens
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---
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## Governance
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### At Launch: Federated
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- Select committee with equal powers
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- Multisig mechanism for protocol updates
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- Handles: parameter updates, protocol upgrades, hard forks
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### Future: Decentralized On-chain
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- Community-centric tools and processes
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- Proposal submission and voting
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- Treasury access for approved proposals
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- Automated protocol updates
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---
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## Glossary
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- **NIGHT**: Midnight's native utility token
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- **STAR**: Smallest subunit of NIGHT (1 NIGHT = 1M STARs)
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- **DUST**: Shielded transaction resource
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- **MBP**: Midnight Block Producer
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- **Reserve**: Protocol-managed token pool for block rewards
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- **Treasury**: Protocol-managed fund for ecosystem growth
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- **Glacier Drop**: Initial free token distribution
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- **Scavenger Mine**: Computational task-based distribution
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- **ZSwap**: Atomic asset swap mechanism for privacy
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- **Babel Station**: Service enabling tokenless transactions
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};
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//# sourceMappingURL=docs-content.js.map
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package/dist/resources/docs.js
CHANGED
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@@ -67,6 +67,12 @@ export const documentationResources = [
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description: "Pausable and other security patterns from OpenZeppelin",
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mimeType: "text/markdown",
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{
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uri: "midnight://docs/tokenomics",
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name: "Midnight Tokenomics Whitepaper",
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description: "Complete tokenomics documentation covering NIGHT token, DUST resource, block rewards, token distribution (Glacier Drop), and cooperative tokenomics",
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mimeType: "text/markdown",
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},
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/**
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* Get documentation content by URI
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