Popular decentralized Finance (DeFi) protocol Uniswap creates an interface that allows any ERC-20 token holders to send Ether (ETH) donations to a wallet set up by the Ukrainian government.
The official Twitter handle of Uniswap Labs, the developer of the Uniswap DeFi protocol, announced on Tuesday, March 1st, that the dedicated interface allows any token to be swapped with Ether (ETH). Coverted tokens will be then sent to ETH address set up the governemnt. The announcement reads:
1/ To ensure that everyone who wants to donate ERC-20 tokens to the Ukrainian government šŗš¦ can do so, we built an interface that swaps any token for ETH and then sends it directly to the Ukrainian government in a single transaction.https://t.co/3zuJLpmWNQ https://t.co/Fg3HSdbNSF
— Uniswap Labs š¦ (@Uniswap) March 1, 2022
ā1/ To ensure that everyone who wants to donate ERC-20 tokens to the Ukrainian government šŗš¦ can do so, we built an interface that swaps any token for ETH and then sends it directly to the Ukrainian government in a single transaction.
Uniswap Interface Enables Donation to Wallets Set up by the Government
As traditional banking is in chaos, the Ukrainian government has set up three cryptocurrency wallets that accept crypto donations in Bitcoin (BTC), Ether (ETH), and Tether (USDT).
On February 26th, Mykhailo Fedorov, Vice Prime Minister and Minister of Digital Transformation of Ukraine announced that they had launched three wallets to accept crypto donations. He announced:
Stand with the people of Ukraine
Now accepting cryptocurrency donations. Ethereum. Bitcoin and Tether (USDTtrc20)BTC ā 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH ā 0x165CD37b4C644C2921454429E7F9358d18A45e14
USDT (trc20) ā TEFccmfQ38cZS1DTZVhsxKVDckA8Y6VfCy
— Mykhailo Fedorov (@FedorovMykhailo) February 26, 2022
āStand with the people of Ukraine
Now accepting cryptocurrency donations. Ethereum. Bitcoin and Tether (USDTtrc20)
BTC ā 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH ā 0x165CD37b4C644C2921454429E7F9358d18A45e14
USDT (trc20) ā TEFccmfQ38cZS1DTZVhsxKVDckA8Y6VfCyā
However, Uniswap notes that the addresses shared by the government are managed by a centralized exchange that appears to accept only Tether (USDT) and Ether (ETH). But the donation interface created by Uniswap allows any ERC-20 token holders to send donations. Any selected token will be swapped with ETH and then sent to ETH address in just one click.
Blockchain analysis firm Elliptic has launched a live update page to track the donations to these wallets. According to the March 1st update, āthe Ukrainian government ā and NGOs providing support to the military ā have raised $33.8 million, through close to 30,000 crypto asset donations, since the start of the Russian invasion.ā
Ukrainian Government Now Accepts Polkadot (DOT) Donations
According to a Twitter account dedicated to Ukraine, the government has also launched a Polkadot (DOT) address to accept donations in DOT and has plans to set up more wallets to accept other currencies.
Gavin Wood, the founder of Polkadot, is currently the largest donator to this new wallet who has donated $5.8 million. Elliptic data shows that the DOT address has received donations of more than $1 million other than Woodās $5.8 million. DOT donations now comprise 23.4% of the total raised. The majority of donations received to date have been in Bitcoin.
The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of $5M of @Polkadot $DOT as promised publicly. Thank you from all of us here in Ukraine working for a peaceful future šŗš¦
— Ukraine / Š£ŠŗŃŠ°ŃŠ½Š° (@Ukraine) March 1, 2022
As Crypto Economy reported earlier, cryptocurrency Exchange Binanceās charity arm has also donated $10 million for Ukraine and launched a crypto-first crowdfunding platform.
