Eldora Joins Midnight’s Night Sky Accelerator

The Midnight Foundation announced Eldora’s selection for the first Night Sky Accelerator cohort at Midnight Cafe during TOKEN2049 in Singapore. The project is building private investment tools for family offices, which manage the wealth of affluent families.

Eldora Enters Night Sky With Early Users

Eldora was already open to retail users at the time of the presentation. Founder and CEO Theophane Rame reported that four family offices from the team’s existing network were using the platform daily and helping refine it.

Night Sky combines direct investment in teams with fundraising support and help integrating Midnight’s technology. The foundation runs the accelerator through its own technical and business teams. Financial terms for Eldora’s participation were not disclosed.

Private Investment Mandates on Midnight

Eldora aims to bring market research, portfolio management, and trading into one platform. Rame described the difficulty of allocating capital across cryptocurrencies, tokenized stocks, and other real-world assets when investments are spread across separate services and blockchain networks.

The platform was presented as a layer above existing brokerage services, with revenue from asset management fees. Privacy would protect information that can reveal an investor’s holdings, allocation changes, and trading strategy.

Midnight, a privacy-focused blockchain in the wider Cardano ecosystem, allows applications to verify information and enforce rules while keeping sensitive data private. Eldora intends to use those capabilities for investment instructions and portfolio records.

One planned application is dollar-cost averaging, or regular purchases of a fixed amount. A client would sign an investment mandate authorizing a financial adviser, with the resulting instructions executed while protecting sensitive information about the arrangement.

Pogun and Passport Proposals Address Yield and Identity

Rame illustrated the privacy problem through his own family office. It holds Bitcoin (BTC) but does not use that position to generate yield because it wants to keep its financial activity private.

Hoskinson proposed connecting Eldora with Pogun, a team developing Bitcoin DeFi. He outlined a lending model in which BTC holdings would support borrowing in a private stablecoin, which could then be deployed into DeFi. The proposed use of Midnight would protect information about the family office’s holdings and how they were being used.

Eldora could supply the management interface for that process. Hoskinson suggested further discussions about a combined offering, with the connection presented as a possible collaboration.

He also recommended that Eldora work with the Midnight Passport team on identity verification. The discussion covered attempts to impersonate financial clients using AI-generated voices and videos. Rame noted that Eldora currently relies on a centralized identity verification provider.

Pogun and Passport integrations remain proposals. Eldora’s stated development target is a dedicated family office platform in January, when the team plans to begin onboarding users to that offering.