Ukraine has increased the number of cryptocurrencies it is accepting for military contributions amid the ongoing conflict with Russia. According to Mykhailo Fedorov, deputy prime minister of Ukraine, people can contribute Dogecoin as a donation. Dogecoin is a cryptocurrency that started as a joke and has gradually gained traction, it is often referred to as a “memecoin”. In his tweet, Mr. Fedorov stated that Dogecoin has surpassed the Russian Ruble in value and went on to add that “now even memes can support our troops and save lives of those invade Russia”.
@dogecoin exceeds the value of the Russian ruble. We started accepting meme coin donations. Now even memes can support our troops and save the lives of Russian invaders. $ DOGE master of the world, @elonmusk, @ BillyM2k, let’s do it. Official $ DOGE wallet: DS76K9uJJzQjCFvAbpPGtFerp1qkJoeLwL
– Mykhailo Fedorov (@FedorovMykhailo) March 2, 2022
Many crypto holders are extending a helping hand to Ukraine. This is a step to strengthen them to resist the invasion and help the people in this difficult time. Cryptocurrency donations are pouring in from every possible place in the world. This donation will be used by the Ukrainian government as needed.
So far, Ukraine only accepts cryptocurrencies like Bitcoin, Ethereum, Tether, Solana, and Polkadot. Anticipating the attacks to become more intense, Ukraine has now increased the number of cryptocurrencies it accepts for donations.
Uniswap, a cryptocurrency exchange, has also developed a feature that allows users to convert any Ethereum-based digital currency into ether and send it to the Ukrainian government.
1/ To ensure that everyone who wants to donate ERC-20 tokens to the Ukrainian government ???????? able to do so, we built an interface that swaps any token for ETH and then sends it directly to the Ukrainian government in a single transaction.https://t.co/3zuJLpmWNQhttps://t.co/Fg3HSdbNSF
– Uniswap Labs ???? (@Uniswap) March 1, 2022
The Ukrainian government even announced an airdrop on March 3, but canceled it about 29 hours after the initial announcement was made. Mr. Fedorov tweeted, “After careful consideration, we have decided to cancel the airdrop. Every day more and more people are ready to help Ukraine to resist aggression. Instead, we will soon announce NFTs in support of the Armed Forces of Ukraine.”
After careful consideration, we have decided to cancel the airdrop. Every day more and more people are ready to help Ukraine to resist aggression. Instead, we will soon announce the NFTs supporting the Armed Forces of Ukraine. We DO NOT have any plans to issue any replaceable tokens
– Mykhailo Fedorov (@FedorovMykhailo) March 3, 2022
Non-fungible tokens, or NFTs, are unique assets that are verified and monitored using blockchain technology, such as a work of digital art. The Ukrainian government has also received hundreds of NFTs, including a valuable CryptoPunk, in addition to crypto donations.
Ukraine has spent $15 million in crypto donations on military equipment, including protective vests, according to a Bloomberg report. The report also states that most donations are made in Bitcoin and Ether.