Ukraine to streamline crypto donations to Ukraine with new tool - OhNo WTF Crypto

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Ukraine to streamline crypto donations to Ukraine with new tool

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Popular decentralized exchange Uniswap is contributing to the Ukraine crisis by creating an interface that streamlines the conversion of ERC-20 tokens into Ethereum donations.

The Ukrainian government started accepting donations in Bitcoin, Ethereum, and Tether after Russia announced its invasion into the country with heavy armed forces and weapons. The address provided by the government belongs to a centralized exchange that only accepts Ethereum and Tether.

“To ensure that everyone who wants to donate ERC-20 tokens to the Ukrainian government πŸ‡ΊπŸ‡¦ 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 wrote in a Twitter post after launching the interface.

The tool would automatically convert ERC-20 tokens like Aave, Chainlink’s LINK and Decentraland’s MANA, Binance’s BNB, USD Coin, and more to Ethereum and directly send them to the wallet address.

Apart from the aforementioned tokens, the government has also started accepting donations in Polkadot’s native token DOT after its co-founder Gavin Wood said he will donate $5 million in DOT.

As promised, Wood donated 298,367 DOT, worth $5.6 million at press time, to the address provided by Ukraine’s official account. Including Wood’s donation, the address has so far received $6 million in DOT as contributions.

The post Ukraine to streamline crypto donations to Ukraine with new tool appeared first on Our Bitcoin News.



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