The Midnight bonus mimics the HEX BigPayDay. When HEX launched, it was given free to Bitcoin holders. Any Bitcoin holder could claim their free HEX, but only around 3% did this. While we anticipate a much higher claim rate from the PulseChain sacrificers, there will still be some accounts that do not claim their free $WAIT. The Midnight bonus will distribute all unclaimed $WAIT from those that did not claim to those that did claim. Every $WAIT that you claim is also a share of the Midnight bonus. So the longer you wait to claim your $WAIT, the more shares of the Midnight bonus you will receive.