On Tuesday, decentralized exchange Uniswap launched an interface that directly converts ERC-20 tokens such as Aave, Chainlinks LINK, and Decentralands MANA to Ether (ETH). The coins are then sent to the official crypto wallet addresses of the government of Ukraine, all in one transaction.

Explaining the offer, Uniswap stated that the address used by Ukraine is on the central exchange and only accepts ethers and tethers (USDT). Therefore, this feature simplifies the donation process for anyone who has ERC-20 tokens on the Uniswap list and wants to donate by connecting their wallet to the DEX.

But in a tweet cited by the Uniswap team, some members of the crypto community expressed concern that “the keys to these wallets belong to the central Ukrainian stock exchange” and called for a more “secure approach to storage.” Ukraine, however, today supported donations to the Ministry of Transport in Polkadot. Polkadot founder Gavin Wood personally donated $5.8 million to the DOT to the new sponsored address. The blockchain community is actively helping Ukraine resist the ongoing war. In addition to donations, efforts to issue non-fungible tokens to support Ukrainian artists and UkraineDAO have also been successful.

According to data tracked by Cointelegraph, the Ukrainian government and non-profit organizations operating in the country have received more than $53 million in donations at the time of the press release. Figures are based on tracked projects and do not take into account donations between individuals or donations in different alternative currencies. Important donation initiatives include Kona Reserve Fund of Ukraine, Come Back Alive, Bitcoin (BTC), Ether, Tether and DOT sent directly to wallet addresses verified by the Ukrainian government. However, it should be noted that the increase in the value of donations is partly due to capital growth due to the continued growth in the cryptocurrency markets.

Source: CoinTelegraph