Uniswap enables direct donations to the Ukrainian government
Users can now swap tokens for ETH and send them directly to Ukraine.
Uniswap, one of the largest decentralized exchanges on the market, has enabled users to make direct donations to the Ukrainian government.
1/ 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.https://t.co/3zuJLpmWNQ https://t.co/Fg3HSdbNSF
— Uniswap Labs 🦄 (@Uniswap) March 1, 2022
The move follows an industry-wide push to set up donation channels both to the Ukrainian government and non-profits operating in the country to help its defense efforts in the ongoing conflict with Russia.
Users get a direct channel to the Ukrainian government through Uniswap
Uniswap has become the first decentralized exchange to launch a direct donation channel to Ukraine.
Earlier today, the exchange said that it has built an interface that enables users to swap any token for ETH and then sends it directly to the Ukrainian government. The entire process of swapping and donating the tokens is done in a single transaction, reducing the fees users bear.
Stand with the people of Ukraine. Now accepting cryptocurrency donations. Bitcoin, Ethereum and USDT.
BTC – 357a3So9CbsNfBBgFYACGvxxS6tMaDoa1P
ETH and USDT (ERC-20) – 0x165CD37b4C644C2921454429E7F9358d18A45e14
— Ukraine / Україна (@Ukraine) February 26, 2022
On March 1st, the country began accepting donations in Polkadot (DOT) as well, after Polkadot’s founder Gavin Wood offered to donate $5 million worth of DOT to the country’s efforts to defend against Russia.
Ukraine’s Ethereum and Tether addresses are hosted on a centralized exchange that only accepts deposits in USDT and ETH. To provide anyone who wants to donate with a direct channel, Uniswap established a system that enables users to swap and send ERC-20 tokens in a single click and a single transaction.
On-chain data shows that Ukraine’s BTC address has so far received just over 187 BTC, worth $8.3 million at press time. A total of 184.6 BTC has been withdrawn from the address. Ukraine’s Ethereum address has so far received around $308,000 worth of various ERC-20 tokens, including 14.6 ETH, worth around $43,700 at press time.
The country’s Polkadot address currently has a balance of 310,747 DOT, worth just under $6 million.