Cardano founder Charles Hoskinson (찰스 호스킨슨) argued that Midnight’s NIGHT token is fundamentally different from Ripple’s XRP in how value is created and distributed.

On April 18, blockchain outlet The Crypto Basic reported that Hoskinson compared the two models in a recent interview on “The O Show,” focusing on token ownership structure, utility and who benefits from network growth.

Hoskinson acknowledged XRP’s rising profile but raised concerns about the structure supporting that growth. He said Ripple continues to control a significant portion of XRP supply and uses the token as a fundraising tool to finance external expansion such as mergers and acquisitions or new businesses.

Hoskinson said the problem is that XRP holders are not directly linked to Ripple’s business performance. He said that even if Ripple acquires a company such as Hidden Road or launches new products, XRP holders receive no ownership or financial exposure. He also cited the absence of staking or revenue-sharing mechanisms in XRP, saying XRP’s value proposition is not designed to redistribute returns to holders.

Hoskinson likened the model to a structure similar to Tether. He described it as a form in which a centralised entity takes most of the economic upside, while users gain only the benefit of network access.

He said Midnight and the NIGHT token are fundamentally different from XRP. He said the token economy is closely tied to user participation. This is interpreted as a debate over who receives the value created as the network grows, beyond a simple technical difference.

He also pointed to differences in distribution. The Midnight Foundation allocated the total supply to users of eight blockchains, including Cardano and XRP. However, based on a snapshot, only some of the eligible users who held at least $100 worth of supported tokens actually claimed the tokens. Hoskinson said this differs from XRP, in which about 80 percent of a pre-mined supply of 100 billion tokens was allocated to Ripple.

The remarks appear to be stoking tensions again between Hoskinson and XRP supporters. The two sides have been at odds for years since Ripple’s lawsuit was in full swing, and there were moves to settle relations after U.S. President Donald Trump’s re-election. At the time, Hoskinson presented several ideas aimed at improving ties, including XRP support in the Lace wallet and support for XRP decentralised finance (DeFi).

But the conflict has resurfaced. Hoskinson criticised Ripple CEO Brad Garlinghouse (브래드 갈링하우스) for supporting the CLARITY bill, which he said favours XRP and existing tokens and would make new projects automatically classified as securities. With his latest remarks highlighting differences between NIGHT and XRP, market attention is focused on the possibility that the dispute between the two sides could be prolonged again.

WATCH: Charles Hoskinson explains how Midnight and $NIGHT are "radically different" from Ripple and $XRP pic.twitter.com/i5H1Z8xDbF