Tuesday, October 4, 2022
HomeLaw & PoliticsMykhailo Fedorov praises Uniswap for charity work

Mykhailo Fedorov praises Uniswap for charity work

Ukraine’s Vice Prime Minister, Mykhailo Fedorov, praised Uniswap’s “Donate to Ukraine” charity effort and requested greater assistance. When Fedorov tweeted on March 2, he said that the Ukrainian people were grateful to the DEX for their campaign, which automatically changed any of their tokens to ETH. He also requested that Uniswap place the campaign on their site to make it more accessible to the crypto community, making it simpler for people to help. Within 24 hours, Uniswap agreed and made the adjustment, and the give to Ukraine feature is now accessible on the Uniswap site.

On March 1, Uniswap introduced a “contribute” button to its site. Users may exchange any token for ETH, which is subsequently paid to the Ukrainian government in a single transaction. It’s part of a larger effort by the crypto community to assist Ukraine.

Tens of millions of dollars in cryptocurrency contributions have already poured into Ukraine, and this trend does not seem to be slowing down anytime soon. Gavin Wood, the creator of Polkadot and several other companies, gave $5 million to the cause. Ukraine’s official Twitter account has also confirmed an airdrop.

Since Russia started fighting Ukraine, the importance of cryptocurrencies has expanded. Fedorov has requested that crypto platforms ban Russian addresses, which some crypto firms have agreed to. People who have been sanctioned in Russia have been banned from Binance’s site, but all Russians will be able to use it, too.

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Jeewan Singh
Jeewan Singh is CryptoShrypto’s content writer and a seasoned writer with over two years of experience in writing about Indian Securities Market. Jeewan's participation in Blockchain and Cryptocurrency started in late 2020, and he hasn't looked back since. The technical and economic outcomes of cryptocurrency are what spark his curiosity, and he keeps one eye on the market.
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