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SHADE

The SHADE sale

Pay NIGHT on Cardano, receive SHADE on Midnight.

42% of SHADE's supply, 42,000,000 SHADE, is sold in a 7-day window at one fixed price: 0.285714 NIGHT per SHADE. You pay with NIGHT on Cardano, where most NIGHT is, and receive SHADE on Midnight. There's nothing to bridge.

How it works

  1. Connect your Midnight wallet. The sale page takes your Midnight address from it and writes it into your payment, so you never type it. That's where your SHADE goes.
  2. Pay from a Cardano wallet. Use any Cardano browser wallet (Lace, Eternl or another), or your passkey wallet's own Cardano account. Enter how much NIGHT to pay, at least 1 NIGHT a payment. Keep about 8 ADA in the wallet beside the NIGHT. About 5 ADA is held as collateral while the payment goes through and isn't spent, about 1.6 ADA stays with your deposit and comes back after the close, and a little goes to Cardano's fee. You can pay more than once, and there's no cap per wallet.
  3. Wait for the window to close. It's open for 7 days, and payments can't be taken back while it's open. The page shows the time left and the total paid in.
  4. Receive SHADE on Midnight. After the close, the sale settles and sends everyone's SHADE to the Midnight address in their payment, as an ordinary public transfer. It isn't instant: it arrives once settlement runs.

If more NIGHT is paid in than the sale's cap of 12,000,000 NIGHT, everyone's payment is scaled back pro rata: each buyer gets their share of the 42,000,000 SHADE, and Nightshade takes exactly the cap. The NIGHT left over comes back automatically in the settlement itself, with the deposit's ADA, to the Cardano address that paid it.

If less than 1,190,476 NIGHT is paid in by the close, the sale is called off. Called off, every deposit is returned in full the same way. And if a deposit is somehow still unsettled 30 days after the close, anyone can return it to its buyer, so NIGHT can't get stuck.

The terms
SHADE on sale42,000,000 (42% of the supply)
Price0.285714 NIGHT per SHADE
Cap12,000,000 NIGHT. Past it, every payment is scaled back pro rata
Floor1,190,476 NIGHT. Under it, the sale is called off and every payment comes back
Smallest payment1 NIGHT
Window7 days

The terms are set before the sale opens, and the sale page shows them. The escrow itself fixes the cap, the smallest payment and the window; the price and the floor are Nightshade's commitment, kept by the settlement tooling (see Security). Everyone pays the same price: there's no early bird, and no advantage to paying first. Between the floor and the cap, nobody is scaled back: every NIGHT paid in buys SHADE at the sale price, and any SHADE left unsold stays with Nightshade's treasury.

Payments wait in one escrow script on Cardano. NIGHT reaches Nightshade's treasury only after the close, and never more than the cap.

After the sale

When the window closes, SHADE opens on Nightshade with liquidity on its markets, so it trades straight away (Markets). The NIGHT raised funds Nightshade, including that liquidity, which is never locked.

Paying in Cardano NIGHT is being finished and tested now. The sale page shows the final terms and steps when the sale opens.