Wednesday, April 17, 2024
HomeLaw & PoliticsUkraine to accept Dogecoin donations after Russian invasion

Ukraine to accept Dogecoin donations after Russian invasion

Mykhailo Fedorov, Ukraine's Vice Prime Minister and Minister of Digital Transformation, has disclosed that the Ukrainian government is now collecting donations in the meme-inspired cryptocurrency Dogecoin.

The Ukrainian government began accepting cryptocurrency donations only three days after Russian President Vladimir Putin launched a “special military operation” against the country. Fedorov stated in a tweet that the value of the meme-inspired cryptocurrency exceeded the Russian ruble, after the country’s fiat currency fell more than 40% due to economic sanctions placed on Russia. It’s unclear what methodology Fedorov employed to calculate the worth of both currencies. The minister went on to say that even memes may now fund our troops and rescue lives against Russian invaders.

According to a tweet from Ukraine’s official Twitter account, the besieged country is now collecting donations in the form of Bitcoin ($BTC), Ethereum ($ETH), and USDT. Following its announcement, Gavin Wood, the creator of Polkadot ($DOT), vowed to give $5 million if it accepted the cryptocurrency as well. Ukraine’s official Twitter account tweeted a DOT address, followed by a transaction from Wood for 298,367 DOT valued at more than $5.7 million. According to blockchain statistics, receiving DOGE has also benefited the Ukrainian government, as about 280,000 DOGE have already been paid into the country’s wallet.

Uniswap ($UNI), a leading decentralised exchange, has developed an interface that enables users to effortlessly swap ERC-20 tokens on the Ethereum blockchain and donate them to the Ukrainian government in a single transaction. According to Uniswap, the address supplied by the Ukrainian government appears to be for a controlled cryptocurrency exchange that appears to take just USDT and ETH. Uniswap’s interface was built to allow donations in various coins.

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Vaishali Goel
Vaishali Goel
Technology enthusiast, explorer and academic scholar. Currently exploring the crypto world. Join me in my journey to see how crypto, NFT and Metaverse will change the world.


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