As the Ukraine-Russia war approaches almost one week, the government has announced an airdrop, which adds to the growing number of crypto donations received by the country in the last two weeks. In a Tweet shared by Ukraine on their official account, the airdrop worth $5M was reportedly given by Gavin Wood in Polkadot.
An airdrop occurs when a DeFi project sends cryptocurrencies, usually the utility currency native to the project, to random addresses. In some cases, the receiver must have contacted the project’s owners for the airdrop. Airdrop is a popular method owners use to gain exposure for their projects.
Ukraine Will Shed More Light on the Airdrop Tomorrow
According to Ukraine’s official post on their Twitter account, a snapshot of the airdrop will be taken and shared on March 3 at 11 am EST as proof of Wood’s generosity as they continue their fight against their Russian counterparts. Speaking of the statement, the government thanked Gavin Wood for his generosity.
The post also explains that everything regarding crypto donations will be shared by Vice PM Fedorov Mykhailo and not the government’s account anymore. The people still await clarification on the airdrop, as promised by the Ukrainian government.
Crypto Donations Hits $20 Million
Cryptocurrency has become a tool for solving real-world problems and effecting change, as shown in the Freedom Convoy protest and the ongoing war between Ukraine and Russia. After protesters’ accounts were seized by the Canadian government, they turned into BTC donations to bypass the restriction.
The upcoming airdrop adds to the long list of crypto donations received by Ukraine since the invasion started. The country began accepting BTC, ETH, and USDT donations on February 26, 48 hours after the attack. On March 1, the nation reportedly disclosed that it would accept more cryptocurrencies after adding support for DOT donations.
Ukraine’s crowdfunding efforts are waxing strong. As of Monday, Ukraine had received over $20 million in digital currencies. According to Elliptic, the figures comprise $4.6 million in BTC, $5.6 million in ETH, three million worth of TRON, and $7.2 million in unnamed cryptos.
Elliptic also points out that the Ukrainian government has received funds from a group called Support Ukrainian Sovereignty. The group claims that it has given the government over $500,000 in fiat. Blockchain records have it that the official BTC and ETH addresses of the government have received $9 million BTC and $10 million ETH.
As part of efforts to cripple Russia’s economy, the Ukraine government had asked major crypto exchanges to suspend accounts belonging to Russian users, which Jesse Powell of Kraken opposed due to a lack of legal backing.
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