Leading decentralized exchange Uniswap ($UN) has created an interface that allows users to easily swap ERC-20 tokens on the Ethereum blockchain and donate them to the Ukrainian government in one single transaction.
The Ukrainian government announced late last month it was accepting cryptocurrency donations as it faces a Russian invasion on several fronts. According to a tweet published by the official Twitter account of Ukraine, the embattled country first accepted Bitcoin ($BTC), Ethereum ($ETH), and $USDT.
The tweet included accompanying addresses for those looking to donate to the nation’s efforts to resist the Russian invasion, including support for civilians and the military. Uniswap’s new interface simplifies the donation process by making it easy for users to swap tokens for ETH and donate them without incurring extra transaction fees.
In a follow-up tweet, Uniswap detailed the address the Ukrainian government shared appears to be one for a centralized cryptocurrency exchange that “appears to accept only USDT and ETH.” To enable donations in other tokens, Uniswap’s interface was created.
As CryptoGlobe reported, cryptocurrency donations sent to the Ukrainian government and several non-governmental organizations meant to support the country amidst its ongoing war have topped the $30 million mark earlier this week.
These donations were also supported by non-fungible token (NFT) donations sent to Ukraine’s wallets, and by a commitment by leading cryptocurrency exchange Binance to donate $10 million “to help the humanitarian crisis in Ukraine.”
When Ukraine announced it was accepting BTC, ETH, and USDT donations, the founder of Polkadot ($DOT) Gavin Wood pledged to donate $5 million if it accepted the cryptocurrency as well. Shortly after, Ukraine’s official Twitter account shared a DOT address, and a transaction from Wood for 298,367 DOT worth over $5.7 million came shortly after.
The Polkadot community has since moved to donate over $210,000 in the cryptocurrency to Ukraine as the country’s crowdfunding efforts continue in a bid to fend off Russia’s invasion. While the Ukrainian government does not accept most cryptoassets, Lithuanian-based fintech firm Coingate has created a payment gateway allowing users to donate other assets to the country.
DISCLAIMER
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
IMAGE CREDIT
Featured image via Unsplash.
