The Ukrainian government said on Tuesday that it will airdrop cryptocurrency donations to the country’s official wallet as contributions cross $50 million. According to the country’s official Twitter, an airdrop has been confirmed, and a snapshot will be taken on March 3 at 6 p.m. Kiev time (4 pm GMT).
An airdrop is a promotional event that generally helps in the development of a blockchain startup by distributing free tokens to members of its community. The airdrop is intended to increase interaction with the platform.
Last year, airdrops gained too much popularity in the NFT community. OpenSea NFT marketplace members just got a free Ethereum-based currency called $SOS. Given that the Ukrainian government has been receiving bitcoin, ethereum, and tether donations since the start of the Russian invasion, it was unclear what assets would be distributed.
According to data aggregator Slowmist, the community has contributed more than $50 million in digital assets to Ukraine only a few days after the Ukrainian government started seeking contributions through crypto. The Russian invasion has also resulted in a surge in crypto adoption in the country, with citizens turning to Tether after electronic payments were suspended.
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