DARKVEIL PROTOCOL

They can't front-run
what they can't see.

DarkVeil is Noctis Protocol's private buying phase, a 24-hour window where token purchases are executed on Midnight Network's zero-knowledge layer, completely hidden from bots, whales, and every other market participant until the window closes.

Zero-knowledge execution Flat price: no front-running Cryptographic whale cap ZK Fair Launch Certificate

The problem with public launches

On a standard public bonding curve, every buy is visible the moment it's broadcast. Bots detect large wallets, copy trades milliseconds ahead, and retail buyers pay a premium for someone else's position. The first buyer always wins.

How DarkVeil solves it

DarkVeil executes all buying in a sealed, private environment. Every participant pays the same flat floor price. Nobody, including the platform, can see who is buying or how much until after the window closes and a ZK certificate is published.

Midnight Network powers the privacy

Midnight is a data-protection blockchain built for private smart contracts. DarkVeil PSMs (Private State Modules) run there. Your buy amount, allocation, and wallet address are never exposed. All gas fees are covered by the platform.

THE PROCESS

How DarkVeil works: step by step

01
T − 48h

Registration opens

A 48-hour registration window opens. Any wallet that meets all three eligibility requirements can register for DarkVeil. Registration requires bonding approximately $50 USD worth of NIGHT. This bond is held on Midnight until after the buying window closes.

Registration is open for 48 hours
02
T − 2h

Registration freezes: slots calculated

Two hours before DarkVeil opens, registration closes permanently. The platform calculates each wallet's base slot: the total DV token allocation divided equally by the number of registered wallets. The 5% cumulative cap (across DV + public phases) is applied.

Base slot formula DV supply ÷ registered wallets
03
T + 0h → T + 24h

DarkVeil buying window (24 hours)

The private buying window opens. All registered wallets can buy up to their base slot at the flat floor price P0, the same price for everyone, with no price movement. Buys execute on Midnight Network: no wallet address, no amount, no participation data is ever visible. Bots have nothing to read.

■ All data is hidden: participation rate, ADA committed, active buyer count, and NIGHT forfeiture estimates are redacted until after close.
Entry price Flat P0, same for every wallet
04
T + 24h

DarkVeil closes: NIGHT settlement

The window closes. NIGHT bonds are settled proportionally: wallets that bought 100% of their allocation get 100% of their NIGHT back. Wallets that bought less get a proportional return. The remainder is forfeited and split 60% to the platform treasury, 40% to the ops wallet. Wallets that registered but never bought (ghosts) forfeit their entire bond.

NIGHT returned = NIGHT bonded × (tokens purchased ÷ tokens allocated)
05
T + 24h + ~10 min

ZK certificate anchored on Cardano L1

A ZK Fair Launch Certificate is generated and anchored permanently on Cardano L1, public and verifiable by anyone. It proves the outcome of DarkVeil without revealing any individual data.

PUBLIC: verifiable on-chain
  • ✓ Creator bought 0 tokens during DarkVeil
  • ✓ No single wallet exceeded the 5% cap
  • ✓ Total ADA raised
  • ✓ Total tokens distributed
  • ✓ Total NIGHT returned / forfeited
  • ✓ Open and close timestamps
PRIVATE: hidden forever
  • ■ Individual wallet addresses
  • ■ Individual buy amounts
  • ■ Participation per wallet
06
After settlement

Public quadratic bonding curve opens

The public bonding curve opens for unrestricted buying. Price now follows a quadratic curve. Earlier buyers get a lower price. The 5% wallet cap still applies cumulatively (DV buys count toward it). The DarkVeil allocation is excluded from the public curve supply.

ELIGIBILITY

Who can register?

All three conditions must be met simultaneously at the time of registration. The platform checks eligibility off-chain and publishes only a Merkle allowlist root on Midnight. Your wallet then proves membership in that list with a zero-knowledge proof, so the chain never learns which wallet registered.

01
Wallet age ≥ 90 days Your Cardano wallet must have existed for at least 90 days at the time of registration. This is verified off-chain against Cardano chain data. Only wallets that pass are added to the private allowlist your registration proof draws from.
02
NIGHT balance ≥ $50 USD You must hold at least $50 USD worth of NIGHT at the registration block. This NIGHT is bonded for the duration of the window.
03
Not the creator or any linked wallet The wallet that paid the launch fee is excluded from registering. Two further checks, stake-key matching to catch wallets controlled by the same entity, and a 90-day lookback for direct ADA transfers from the creator, are architected into the eligibility system and will be enabled in a future update. As with every other check, none of this reveals your wallet address on-chain: only allowlist membership is ever proven publicly.
NIGHT BOND

How the NIGHT bond works

The bond discourages ghost registrations: wallets that register but never buy, which would reduce other participants' allocations.

100% Bought full allocation 100% of NIGHT returned
50% Bought half of allocation 50% returned · 50% forfeited (60% treasury / 40% ops)
0% Registered, never bought (ghost) 100% forfeited (60% treasury / 40% ops)
<50% Phase failed: under 50% participation 100% returned to all wallets
WORKED EXAMPLE

End-to-end walkthrough

A concrete example of a DarkVeil launch from registration close through to settlement, using realistic numbers.

The launch parameters

Token $NOVA
Total supply 1,000,000,000
DV allocation (15%) 150,000,000 tokens
Floor price P₀ 0.0001 ADA / token
Wallets registered 200
Base slot per wallet 750,000 tokens
Cost to fill a slot 75 ADA
NIGHT bonded per wallet 500 NIGHT ($50 USD)

Base slot = 150,000,000 ÷ 200 = 750,000 tokens  ·  5% cap check: 750,000 ÷ 1,000,000,000 = 0.075% ✓

Three wallets, three different outcomes

Wallet A Fully committed
Tokens bought750,000
ADA spent75 ADA
Allocation used100%
NIGHT returned500 NIGHT
NIGHT forfeited0 NIGHT
Wallet B Partial buyer
Tokens bought375,000
ADA spent37.5 ADA
Allocation used50%
NIGHT returned250 NIGHT
NIGHT forfeited250 NIGHT
Wallet C Ghost (no buy)
Tokens bought0
ADA spent0 ADA
Allocation used0%
NIGHT returned0 NIGHT
NIGHT forfeited500 NIGHT

Phase summary: what gets published in the ZK certificate

Wallets registered 200
Wallets that bought 172 of 200
Total ADA raised 11,400 ADA
Total tokens distributed 114,000,000
NIGHT returned to participants 82,600 NIGHT
NIGHT forfeited (60% treasury / 40% ops) 17,400 NIGHT · 10,440 treasury / 6,960 ops
Creator bought during DV 0 tokens ✓
Any wallet exceeded 5% cap No ✓

All of the above is anchored on Cardano L1 as the ZK Fair Launch Certificate. Individual wallet addresses and buy amounts remain private forever.

PREVIEW

See DarkVeil in action

Example launch cards across both DarkVeil phases, registration (eligibility checks, NIGHT bond info, allocation stats) and the active window (privacy banner, redacted live data, closing countdown), using demo data, not live launches.

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