Ukraine Confirms Airdrop After Receiveing Over $30M Worth of Crypto Donations
The government of Ukraine announced it will airdrop cryptocurrencies donated to the nation’s official wallet. Companies, non-governmental organizations, and individuals have already contributed over $30 million worth of digital assets to the country amid its ongoing war with Russia.
Ukraine Has a Date for its Crypto Airdrop
A few days after the launch of Russia’s “special military operation,” Ukraine started accepting cryptocurrencies as means of donation. Yesterday (March 1), Polkadot’s Founder – Gavin Wood – placed his name among the contributors by donating over $5 million worth of DOT. The authorities said they are “forever grateful” to him, hinting at a possible airdrop in the near future.
Today (March 2), Ukraine’s ruling body assured that such a distribution will occur on March 3. It also informed that Mykhailo Fedorov (Vice PM of the nation) will give more details about the initiative.
Airdrop confirmed. Snapshot will be taken tomorrow, on March 3rd, at 6pm Kyiv time (UTC/GMT +2 hours).Reward to follow!Follow subsequent news re Ukraine’s crypto donation campaign at @FedorovMykhailo
— Ukraine / Україна (@Ukraine) March 2, 2022
A crypto airdrop is an event where an organization releases free tokens to members of its community, usually for promotional purposes. The move is intended to encourage the adoption of those assets.
This is not the first time a country has conducted an airdrop for its citizens. Last summer, the government of El Salvador distributed $30 worth of bitcoin to each adult who signed up for the program as the nation was preparing to embrace the primary digital asset as legal tender.
Nonetheless, Ukraine’s endeavor will mark the first time a country launches an airdrop amassed by cryptocurrency donations.
Given that the authorities have been accepting contributions in Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT), and Tether (USDT), it remains unclear what assets will be distributed.
The Crypto Community Aiding Ukraine’s Defense
Over the last couple of days, Ukraine has gathered solid support from organizations and individuals part of the crypto space.
Binance, for one, donated $10 million to the country. However, the world’s largest digital asset exchange said it will not stop servicing Russian accounts. The company argued that “crypto is meant to provide greater financial freedom,” and such an initiative would oppose its principles.
It is worth noting that many anonymous individuals also donated large amounts of crypto assets to Ukraine. One such mysterious contributor sent 80 BTC to Come Back Alive – a charity organization supporting the Ukrainian army with equipment. At the time of the donation, it equaled more than $3 million.
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