DUST Is Live on Midnight: Here’s the Wallet Setup That Lets You Start Generating It

The Midnight Network is now live and you can start generating DUST from your wallets so that you can use it for gas fees and transactions to pay for those transactions on the network. This is really cool. The Lace wallet has been updated for this. So a lot of people that are familiar with Lace can now do this. So let me take you through the process of how to get through it. Okay, everyone.

I’m Peter. If it’s the first time here, hit that thumbs up, like, subscribe, notification bell on your way in. Let’s get through this tutorial here. Now I’ve already done a video recording of this. So I’m going to walk you through exactly what’s happening here. But before I do, I need to tell you guys what this DUST token is. So the Midnight Network has two tokens. It’s a dual token ecosystem and has the NIGHT network, which is the main token that you can transfer. It’s all listed on various different exchanges.

And that one is the value transfer between different networks and what you can hold in your wallet. For example, the other one is the DUST token. Now the DUST token is used for gas fees. If you’re familiar with Ethereum, you have ETH as gas and you can pay and use that to pay for your transactions. In Midnight, it’s different. When you hold the NIGHT token within your wallet, you generate that gas token DUST.

within your wallet and then you can use that to pay for various transactions. And in the future, there’s talk and conversations about using your DUST tokens and having it sponsored somewhere else so that you can pay for the transactions on a banking app, for example. And that banking app may give you a little bit of a return for sponsoring those transactions. So there’s going to be interesting mechanics here in regards to what you can do with your DUST tokens.

especially if you’re just a holder of a token. So there’s a lot of those type of marketplaces and ecosystems potentially coming into play here. So there’s a lot of really interesting things. So let me walk you through exactly how to start generating DUST in your wallet. Now I have my Lace wallet here already set up in the Cardano network and I don’t currently have any NIGHT tokens in this wallet. So I’ll show you how to actually swap some ADA for that as well.

But if you open up your Lace wallet at the moment, you get this prompt here that says get started with Midnight. You can now register your wallet on the Midnight network and start connecting it into your Cardano wallet so you can generate that DUST. So if you now click on that link there, Midnight registration, it will take you over to this website here called the DUST generator. I’ll put the links down below for you guys. But if we go through this, you’ll be able to see that you can connect

your Cardano wallet to this. So if you already have a Cardano wallet such as Lace wallet, go ahead, click on that and connect your wallet through. This will give you a prompt. You can choose whatever Cardano wallet you might have. I’ve got Eternal, Lace and NewFi installed. So you can click on Lace and get that connected in. You will need to authorise the application itself. So go ahead, authorise that and that will allow you to connect your wallet in. Now the next part here is to connect

your Midnight wallet. Now you may not have a Midnight wallet yet, but if you are using the Lace wallet app, it will prompt you to generate a wallet there or use the same seed phrase that you are already using for your Lace wallet on Cardano over onto the Midnight Network. So let me just walk through this step here and you’ll be able to see that. So click on connect to Midnight Wallet, choose Lace wallet in this case.

It’ll bring you up to the start a new wallet or restore wallet. So I actually clicked on create new wallet here. I was going to create a brand new one, but what it actually lets you do is click on create a brand new wallet. So I clicked on restore initially, and I thought I had to go through and get my seed phrase and restore the wallet, but you don’t have to. If you have it already installed on your computer, you can go back and simply connect your existing wallet to this brand new Midnight one.

So here I’ve clicked on create and here it says I can reuse my recovery phrase. So here I can select which wallet I’ve got a demo wallet and then I’ve got an older test wallet that I’ve already set up as well. So you can see that from these drop down selection. So I’ve chosen my test wallet and all you need to do now is enter in your wallet password to confirm that. And there it goes. It’s used that seed phrase

and now is going through and doing the final setups. And now I’ve got a wallet one set up here, put in the password for that one, configure it for mainnet and local proofs over. You don’t need to worry about that at this point in time, but then click on enter wallet and it’s set up and ready to go. So now you have your Cardano wallet and your Midnight wallet all set up using the same seed phrase. Really cool.

So now that you do have your Midnight wallet, all you need to do is go back to the Nethermind website and click on connect Midnight wallet and you’re pretty much ready to go. But at this point in time, I actually don’t have any NIGHT tokens in my wallet. Here you can see on the screen there, origin address, Cardano, balance zero NIGHT. So what I’m going to do is go to a DEX aggregator, go to SteelSwap and actually get some of those NIGHT tokens.

So I’ll go over to SteelSwap here and I’ve connected up my wallet, which is great. I’ll type in the amount that I want. I’ve got a little bit of ADA in this wallet so I can go through and do a couple of things here, which is great. Type in the amount of ADA I want to swap in this case, 50 ADA for my NIGHT tokens. I can see here it’s finding me the best price on the Cardano network and here it is via CSwap. So that’s really good to see.

Good to see them using CSwap as well. CSwap’s a really great DEX. And this is my transaction summary. I’ll just confirm this transaction here and away it goes. Great. So that’s transaction submitted and it’ll just take a few moments for it to appear in my wallet. And there it is there. I can see the balance of the NIGHT tokens in my wallet. Exactly what I expected. Fantastic. So now I’ll go back to the Nethermind website, the DUST generator, and I am going to now start to

connect my Midnight wallet. Click on that, click on the Lace. We’ve got a little pop up here saying I need to authorise it on the Midnight side of things. So I’ll go ahead, authorise that. Registration is complete. So now I’ve got my two addresses from the Midnight network and the Cardano network all registered on the application here. Great. So I’ve got generating address, zero balance ADA, zero balance NIGHT. I’ve got a balance of ADA there.

Something happened here and I might just need to refresh the screen to make sure that’s all coming in. So I’m going to disconnect my Cardano wallet and reconnect it again. All the data. There we go. Okay. Now I’ve got my balance of NIGHT tokens in there and now I compare the addresses. So go ahead, compare the address and I’ve got a transaction here that I need to sign. So I’m just checking this one here. I’ve got collateral, which is normal.

I’ve got the transaction summary and I can dig into the transaction a little bit more to find out exactly what it’s doing, making sure that my ADA or my NIGHT tokens or any other assets isn’t just leaving my wallet for some strange reason. So from address, I can check the to address and all those details as well. So everything looks normal to me. It looks like it all checks out. So I can go ahead and confirm this transaction. Just type in my spending password again, and we are all done. Fantastic.

So I’ll close that prompt there and now it’s taking me to the final screen here that will show me how much DUST I’m actually generating. And there we go. So now it’s registering and syncing. It does take a little while for the wallet itself, Lace wallet to sync with the Midnight Network. And it takes a while for this dashboard to sync as well. So there is a little bit of a delay. And in this prompt here, it says 12 hours for DUST generation start on your Midnight address.

So I’ll just need to wait a while. I can check back in on this. I can see exactly how much DUST I’m generating. Now from what I’ve heard from other people, the interface is sometimes a little buggy. Sometimes it will show you DUST tokens. Sometimes it won’t. So just be patient in this early stage of the network. I’m sure they’re still working on various different things, but at any point in time here, you can stop generating the DUST. You can disconnect your wallets.

You can reconnect brand new wallets, you can move more NIGHT tokens in. And the really good thing about all this, none of the NIGHT tokens or none of your ADA assets leave your wallet for this generation of DUST. So that’s another really cool mechanism there. It’s all self custody. It’s all within your own wallets and doesn’t interact with smart contracts or hold onto your assets as a custodian, as many other staking platforms or other ecosystems do. So that’s absolutely brilliant.

Now if you have any questions in regards to how this all works, if something didn’t quite work out for you, leave a comment down below. I’m more than happy to go through and find all these bugs and collate them and try and work them out. I’m sure as a community together, we can work out together what’s going on with other people having issues. Just beware of scammers out there. I know a lot of people will ask for a seed phrase or your wallet or anything. Do not ever share that. That is one of the biggest rules within crypto.

Never expose your seed phrase online or even on your computer. Like you have it once, have it written down, don’t store anywhere written on your computer. So that’s just a really good safety practice. Anyway guys, if you got something out of this, make sure you hit that thumbs up, like, subscribe notification bell. I’ve got YouTube memberships down below. I’ve got a buy me a coffee links as well. So do check that out if you want to support the channel. And like always,

Just hit that thumbs up button if you can’t do any of that and stay positive and I’ll see you in the next video.