Uniswap builds interface to swap altcoins into ETH donations for the Ukrainian people

On Tuesday, decentralized exchange Uniswap launched an interface that directly converts ERC-20 tokens – such as Aave, Chainlink’s LINK and Decentraland’s MANA – to Ether (ETH). The coins are then sent to the official crypto wallet addresses of the Ukrainian government, all in a single transaction. 

In explaining the rollout, Uniswap claimed that the address shared by Ukraine is located on a centralized exchange and only accepts Ether and Tether (USDT). Thus, the feature simplifies the donation process for anyone holding ERC-20 tokens on Uniswap’s list and who wishes to donate by connecting their wallet to the DEX.

But in a tweet cited by the Uniswap team, some members of the crypto community express concern that “The keys to these wallets are held by a centralized Ukrainian exchange” and are asking for a more “secure custody approach.” Nevertheless, Ukraine rolled out support for donations in Polkadot’s DOT earlier today. Polkadot’s founder, Gavin Wood, personally donated $5.8 million in DOT to the newly supported address. The blockchain community has been active in helping Ukraine resist an ongoing war. Donations aside, efforts such as nonfungible tokens drops to support Ukrainian artists and UkraineDAO have also gained traction. 

Per data tracked by Cointelegraph, the Ukrainian government and nonprofit organizations operating in the country have received more than $53 million in donations at the time of publication. The numbers are based on tracked projects and do not account for donations between individuals or those made via various altcoins. Notable donation initiatives include Kuna’s Reserve Fund of Ukraine, Come Back Alive, and Bitcoin (BTC), Ether, Tether and DOT sent directly to wallet addresses verified by the Ukrainian government. It’s worth noting, however, that the surge in the donations’ value partly stems from capital appreciation due to an ongoing rally in the cryptocurrency markets

All Dutch and English crypto news!

Vitalik Buterin wants rollups to hit stage 1 decentralization by year-end

Ethereum network standards should increase when considering layer-2 scaling solutions, suggested Ethereum co-founder Vitalik Buterin. News Own this piece of crypto history Collect this article as NFT Join us...

MicroStrategy is trading at an ‘unjustifiable premium’ to Bitcoin: Analyst

Kerrisdale Capital claims MicroStrategy’ is no longer a “unique way to gain access to Bitcoin” but Michael Saylor has long argued his firm will remain...

Mystery malware targets Call of Duty cheaters, stealing their Bitcoin

Malware database vx-underground has warned of a new info-stealing malware in cyberspace that is targeting video gamers, especially those who use cheating software. News Own this piece...

Prisma Finance $11.6M hacker claims it was a ‘whitehat rescue’

The hacker’s on-chain message came approximately six hours after the hack occurred. However, blockchain security firms noted the hacker had also started swapping the stolen...

Beste exchanges

Koop je crypto bij Bitvavo