diff --git a/GhosttyTabs.xcodeproj/project.pbxproj b/GhosttyTabs.xcodeproj/project.pbxproj
index 90daab53..457a8dbf 100644
--- a/GhosttyTabs.xcodeproj/project.pbxproj
+++ b/GhosttyTabs.xcodeproj/project.pbxproj
@@ -56,6 +56,7 @@
 		B9000002A1B2C3D4E5F60719 /* cmux.swift in Sources */ = {isa = PBXBuildFile; fileRef = B9000001A1B2C3D4E5F60719 /* cmux.swift */; };
 		B900000BA1B2C3D4E5F60719 /* cmux in Copy CLI */ = {isa = PBXBuildFile; fileRef = B9000004A1B2C3D4E5F60719 /* cmux */; };
 		84E00D47E4584162AE53BC8D /* xterm-ghostty in Resources */ = {isa = PBXBuildFile; fileRef = B2E7294509CC42FE9191870E /* xterm-ghostty */; };
+		A5002000 /* THIRD_PARTY_LICENSES.md in Resources */ = {isa = PBXBuildFile; fileRef = A5002001 /* THIRD_PARTY_LICENSES.md */; };
 			B9000012A1B2C3D4E5F60719 /* AutomationSocketUITests.swift in Sources */ = {isa = PBXBuildFile; fileRef = B9000011A1B2C3D4E5F60719 /* AutomationSocketUITests.swift */; };
 			B8F266236A1A3D9A45BD840F /* SidebarResizeUITests.swift in Sources */ = {isa = PBXBuildFile; fileRef = 818DBCD4AB69EB72573E8138 /* SidebarResizeUITests.swift */; };
 			C0B4D9B0A1B2C3D4E5F60718 /* UpdatePillUITests.swift in Sources */ = {isa = PBXBuildFile; fileRef = C0B4D9B1A1B2C3D4E5F60718 /* UpdatePillUITests.swift */; };
@@ -169,6 +170,7 @@
 		C0B4D9B1A1B2C3D4E5F60718 /* UpdatePillUITests.swift */ = {isa = PBXFileReference; lastKnownFileType = sourcecode.swift; path = UpdatePillUITests.swift; sourceTree = "<group>"; };
 		A5001101 /* Assets.xcassets */ = {isa = PBXFileReference; lastKnownFileType = folder.assetcatalog; path = Assets.xcassets; sourceTree = "<group>"; };
 		B2E7294509CC42FE9191870E /* xterm-ghostty */ = {isa = PBXFileReference; lastKnownFileType = file; path = "ghostty/terminfo/78/xterm-ghostty"; sourceTree = "<group>"; };
+		A5002001 /* THIRD_PARTY_LICENSES.md */ = {isa = PBXFileReference; lastKnownFileType = net.daringfireball.markdown; path = THIRD_PARTY_LICENSES.md; sourceTree = SOURCE_ROOT; };
 		B9000001A1B2C3D4E5F60719 /* cmux.swift */ = {isa = PBXFileReference; lastKnownFileType = sourcecode.swift; path = cmux.swift; sourceTree = "<group>"; };
 		B9000004A1B2C3D4E5F60719 /* cmux */ = {isa = PBXFileReference; explicitFileType = "compiled.mach-o.executable"; includeInIndex = 0; path = cmux; sourceTree = BUILT_PRODUCTS_DIR; };
 				B9000011A1B2C3D4E5F60719 /* AutomationSocketUITests.swift */ = {isa = PBXFileReference; lastKnownFileType = sourcecode.swift; path = AutomationSocketUITests.swift; sourceTree = "<group>"; };
@@ -224,6 +226,7 @@
 			files = (
 				A5001100 /* Assets.xcassets in Resources */,
 				84E00D47E4584162AE53BC8D /* xterm-ghostty in Resources */,
+				A5002000 /* THIRD_PARTY_LICENSES.md in Resources */,
 			);
 			runOnlyForDeploymentPostprocessing = 0;
 		};
@@ -340,6 +343,7 @@
 			isa = PBXGroup;
 			children = (
 				B2E7294509CC42FE9191870E /* xterm-ghostty */,
+				A5002001 /* THIRD_PARTY_LICENSES.md */,
 			);
 			path = Resources;
 			sourceTree = "<group>";
diff --git a/Sources/cmuxApp.swift b/Sources/cmuxApp.swift
index 54f986d5..23619f5e 100644
--- a/Sources/cmuxApp.swift
+++ b/Sources/cmuxApp.swift
@@ -1093,7 +1093,7 @@ private enum DebugWindowConfigSnapshot {
         bgGlassEnabled=\(boolValue(defaults, key: "bgGlassEnabled", fallback: true))
         bgGlassMaterial=\(stringValue(defaults, key: "bgGlassMaterial", fallback: "hudWindow"))
         bgGlassTintHex=\(stringValue(defaults, key: "bgGlassTintHex", fallback: "#000000"))
-        bgGlassTintOpacity=\(String(format: "%.2f", doubleValue(defaults, key: "bgGlassTintOpacity", fallback: 0.05)))
+        bgGlassTintOpacity=\(String(format: "%.2f", doubleValue(defaults, key: "bgGlassTintOpacity", fallback: 0.03)))
         """
 
         let menuBarPayload = MenuBarIconDebugSettings.copyPayload(defaults: defaults)
@@ -1339,6 +1339,56 @@ private final class AboutWindowController: NSWindowController, NSWindowDelegate
     }
 }
 
+private final class AcknowledgmentsWindowController: NSWindowController, NSWindowDelegate {
+    static let shared = AcknowledgmentsWindowController()
+
+    private init() {
+        let window = NSWindow(
+            contentRect: NSRect(x: 0, y: 0, width: 500, height: 480),
+            styleMask: [.titled, .closable, .miniaturizable, .resizable],
+            backing: .buffered,
+            defer: false
+        )
+        window.isReleasedWhenClosed = false
+        window.title = "Third-Party Licenses"
+        window.identifier = NSUserInterfaceItemIdentifier("cmux.licenses")
+        window.center()
+        window.contentView = NSHostingView(rootView: AcknowledgmentsView())
+        super.init(window: window)
+        window.delegate = self
+    }
+
+    @available(*, unavailable)
+    required init?(coder: NSCoder) {
+        fatalError("init(coder:) has not been implemented")
+    }
+
+    func show() {
+        guard let window else { return }
+        window.makeKeyAndOrderFront(nil)
+    }
+}
+
+private struct AcknowledgmentsView: View {
+    private let content: String = {
+        if let url = Bundle.main.url(forResource: "THIRD_PARTY_LICENSES", withExtension: "md"),
+           let text = try? String(contentsOf: url) {
+            return text
+        }
+        return "Licenses file not found."
+    }()
+
+    var body: some View {
+        ScrollView {
+            Text(content)
+                .font(.system(.body, design: .monospaced))
+                .textSelection(.enabled)
+                .frame(maxWidth: .infinity, alignment: .leading)
+                .padding()
+        }
+    }
+}
+
 private final class SettingsWindowController: NSWindowController, NSWindowDelegate {
     static let shared = SettingsWindowController()
 
@@ -1473,6 +1523,9 @@ private struct AboutPanelView: View {
                             openURL(url)
                         }
                     }
+                    Button("Licenses") {
+                        AcknowledgmentsWindowController.shared.show()
+                    }
                 }
 
                 if let copy = copyright, !copy.isEmpty {
@@ -1927,7 +1980,7 @@ private final class BackgroundDebugWindowController: NSWindowController, NSWindo
 
 private struct BackgroundDebugView: View {
     @AppStorage("bgGlassTintHex") private var bgGlassTintHex = "#000000"
-    @AppStorage("bgGlassTintOpacity") private var bgGlassTintOpacity = 0.05
+    @AppStorage("bgGlassTintOpacity") private var bgGlassTintOpacity = 0.03
     @AppStorage("bgGlassMaterial") private var bgGlassMaterial = "hudWindow"
     @AppStorage("bgGlassEnabled") private var bgGlassEnabled = true
 
@@ -1973,7 +2026,7 @@ private struct BackgroundDebugView: View {
                 HStack(spacing: 12) {
                     Button("Reset") {
                         bgGlassTintHex = "#000000"
-                        bgGlassTintOpacity = 0.05
+                        bgGlassTintOpacity = 0.03
                         bgGlassMaterial = "hudWindow"
                         bgGlassEnabled = true
                         updateWindowGlassTint()