Let’s start with a counterintuitive viewpoint.

The lock-up of the NIGHT project is essentially not incentivizing you to 'save money', but screening whether you 'qualify'.

Many people automatically associate the four characters 'lock-up financial management' with—investing in, and happily receiving returns at maturity.

But if you take a closer look at NIGHT's economic model, you'll find that the weight of the lock-up is not reflected in interest, but in governance weight, airdrop weight, and some undisclosed priority rights.

In simple terms, the amount you lock up determines your 'membership level' in the game.

Why is this important?

Because in crypto, real excess returns never come from publicly available APY—those annualized rates are overlooked by large funds and are insufficient for small ones.

Real benefits come from:

  • Quotas that others cannot obtain

  • Opportunities that others do not know about

  • Circles that others cannot enter

And NIGHT's lockup is the ticket for these 'privileges'.

The phenomenon I observed

On-chain data can reveal (go check it yourself) that a considerable portion of NIGHT's lockup addresses are continuously increasing their positions and never redeeming.

These people are not 'wealth managing'; they are occupying positions.

What are they betting on? They are not betting on how much the APY can rise, but on the high-value opportunities that NIGHT will release later, which only locked users can participate in—such as priority quotas for new mining pools, whitelists for ecosystem projects, and some undisclosed off-market shares.

Such things have happened too many times in the industry. Those who locked in the first batch of XX projects later received returns that were ten times higher than the benefits of the lockup itself.

My attitude

If you see NIGHT's lockup as a 'fixed deposit', then you've been off track from the beginning.

The logic of fixed deposits is: I give up liquidity, you give me fixed interest returns.

But NIGHT's logic is: I give up liquidity, you give me information asymmetry and priority.

Interest is a clear number that anyone can calculate. But priority and information asymmetry are what truly hold value.

So my advice is simple:

If you don't plan to deeply participate in the NIGHT ecosystem, then don't lock it up. Because relying solely on that interest is not worth your lockup.

But if you believe that NIGHT will continue to expand its ecosystem, then locking up is your ticket in—and the earlier you lock in and the more you lock, the more different things you will be able to access later.

The last sentence

Don't look at it through the lens of 'wealth management'.

Look at it through the lens of 'buying membership'.

Whether membership is expensive or not depends on what the membership can offer you. Currently, NIGHT's membership benefits are not fully opened, but the window period often occurs at this time.

When everyone understands, the threshold has already risen.