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On Tuesday, decentralized trade Uniswap launched an interface that instantly converts ERC-20 tokens — corresponding to Aave, Chainlink’s LINK and Decentraland’s MANA — to Ether (ETH). The cash are then despatched to the official crypto pockets addresses of the Ukrainian authorities, all in a single transaction.
In explaining the rollout, Uniswap claimed that the handle shared by Ukraine is positioned on a centralized trade and solely accepts Ether and Tether (USDT). Thus, the characteristic simplifies the donation course of for anybody holding ERC-20 tokens on Uniswap’s listing and who needs to donate by connecting their pockets to the DEX.
2/ The handle shared by the Ukrainian authorities is a centralized trade that seems to just accept solely USDT and ETH. We constructed this interface so anybody who desires to donate however holds different ERC-20 tokens can achieve this with one click on.https://t.co/0BfhARcgxS
— Uniswap Labs (@Uniswap) March 1, 2022
However in a tweet cited by the Uniswap workforce, some members of the crypto group specific concern that “The keys to those wallets are held by a centralized Ukrainian trade” and are asking for a extra “safe custody strategy.” Nonetheless, Ukraine rolled out help for donations in Polkadot’s DOT earlier right now. Polkadot’s founder, Gavin Wooden, personally donated $5.8 million in DOT to the newly supported handle. The blockchain group has been lively in serving to Ukraine resist an ongoing battle. Donations apart, efforts corresponding to nonfungible tokens drops to help Ukrainian artists and UkraineDAO have additionally gained traction.
Per information tracked by Cointelegraph, the Ukrainian authorities and nonprofit organizations working within the nation have obtained greater than $53 million in donations on the time of publication. The numbers are primarily based on tracked initiatives and don’t account for donations between people or these made through varied altcoins. Notable donation initiatives embrace Kuna’s Reserve Fund of Ukraine, Come Again Alive, and Bitcoin (BTC), Ether, Tether and DOT despatched on to pockets addresses verified by the Ukrainian authorities. It’s value noting, nonetheless, that the surge within the donations’ worth partly stems from capital appreciation resulting from an ongoing rally within the cryptocurrency markets.
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