Gitcoin Platform Raised $1.2 Million In ETH To Help Ukraine

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The Gitcoin platform raised $1.2 million in ETH to help Ukraine and its fundraising round attracted participation from OpenSea, Chainlink, Polygon, NounsDAO, and OlympusDAO as well as other notable Web3 names so let’s read more in our latest Ethereum news.

As the military conflict between Russia and Ukraine continues, Web3 gathered to help Ukraine and sent about $100 million in crypto donations to the Ukrainian government and the NGOs that operate in the region as per the Ministry of Digital Transformation. The gitcoin platform rewards coders with crypto but now it decided to add support by hosting a fundraising campaign dubbed GR13. Running from March 9 to March 24, GR13 is a series of grants under the gitcoin banner where participating entities can contribute funds to support Ukraine.

The latest funding round is the 13th under the Gitcoin banner and the co-founder Scott Moore said that it is a part of the platform’s move to donate to real-world causes. The grants raised $1.2 million to support Ethereum. Web3 projects Avalanche, ENS, Polygon, and Uniswap all joined Gitcoin’s GR13 initiative by offering funds of their own. Since the launch in 2017, Gitcoin said it raised over $54 million in funding  for open source projects and about $36 million went to the Gitcoin grants as a Web3 alternative to Patreon:

“Ultimately, our focus has always been what are the public goods that are either not being funded or are not being sufficiently coordinated for in the global sphere.”

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Moore added that the crypto space matured to the point where crypto can have a huge global impact and aid in serious real-world situations like DAOs and NGOs to support Ukraine. Moore also added that Gitcoin’s larger effort to help Ukraine has really shown real community effort. He cited the work with the Unchain Fund and the Ukraine DAO which did a lot to raise funds in support for the people in Ukraine. Moore added:

“In 2017, 2018, no one had the idea that crypto was usable in the real world. Peace is a global public good for the global commons… so I think it’s a maturation of the space over the last few years, and also the tooling is there now, where it wasn’t before, to really be able to get these things used in real-world situations.”

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