Uniswap Added Tools To Facilitate Crypto Donations In Ukraine

Time Stamp: March 1, 2022 4:46 PM
Source Node: 1194080

Uniswap added tools that can facilitate crypto donations to Ukraine and it built an interface that will allow the swapping of tokens for Ethereum and send them to the Ukrainian government as we can see more in today’s latest crypto news.

The decentralzied exchange Uniswap added tools and built an interface that can enable users to swap any ERC-20 token for ETH and donate it to the Ukrainian government as it is still at war with Russia. Uniswap tweeted:

“To ensure that everyone who wants to donate ERC-20 tokens to the Ukrainian government 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. The protocol added that the interface was built so that “anyone who wants to donate but holds other ERC-20 tokens can do so with one click.”

After Russia’s invasion of Ukraine, millions of dollars worth of crypto have been donated to the governemnt and many other NGOs. The Ukrainian government shared a BTC and an ETH address for donations and according to the data, the addresses recieved over $8 million and $7 million worth of BTC and ETH respectively. The Ukrainian government announced that it was not accepting Polkadot donations with more cryptocurrencies to follow.

Accoridng to Elliptic, the total amount of crypto donations sent to the Ukrainian government and NGOs passed $20 million a day ago. In addition to the donations sent to Ukrainian government addresses called Support Ukrainian Sovereignty claims to have raised $511,000 to date. Come Back Alive an NGO suspended by Patreon for funding military activity managed to raise up to million dollars according to Elliptic.

BTC’s trading volumes in Russia and Ukraine surge to a new high which is possibly the highest level in almost a year. At the same time, those that employ Ukraine’s national currency reached October 2021 heights. NATO and the EU are standing away from a direct military conflict and promised not to send troops to Ukraine however they did impose severe monetary sanctions on Russia and aim to destabilize it and eventually cut its financial connections. The embargoes slammed Russia’s economy and its national currency with the ruble losing around 25% of its value in 24 hours.

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