The Ukrainian government revealed that it would execute an ‘airdrop’ to motivate cryptocurrency aid. It seems that the operation has been prosperous.
Donations in crypto assets to Ukraine have reached new levels after the European country’s government revealed that it would implement an ‘airdrop’ to keep boosting inflows of digital currency funds.
CoinDesk reported that the airdrop will get distributed among donors who have helped by sending funds to official Ukrainian wallet addresses. The official government Twitter account highlighted the initiative on Wednesday, saying it will happen on Thursday, March 3 at 6 pm m. Kyiv time (11 am EST).
Airdrop confirmed that the reward was yet to come. The tweet highlighted that upcoming campaign news would come from Deputy Prime Minister Fedorov Mykhailo via his personal Twitter profile.
The Ukrainian government still hasn’t revealed further details about the protocol. It is important to consider that the term ‘airdrop’ refers to the free distribution of tokens by a crypto project to its users to boost and improve adoption.
The government of El Salvador previously implemented a similar action after passing a bill to accept Bitcoin as legal tender. That airdrop allocated at least USD 30 in Bitcoin to the citizens. However, as CoinDesk highlighted, Ukraine’s plans would mark the first time a country has airdropped cryptocurrency donations.
Crypto Donations Already Surpassed USD 50 Million
The campaign came to fruition, as donations in Bitcoin and other digital assets skyrocketed after the statement. Cryptocurrency collections by the government and organizations that bring assistance to the Ukrainian armed forces have reached new levels since the Russian attacks started.
Relevant companies from the crypto space have been advocating to help the cause. Binance gave away $10 million, and Polkadot founder Gavin Wood sent $5.8 million worth of DOT after the government enabled a profile to receive that coin. Sam Bankman-Fried and Deepak Thapliyal have also joined the community and donated large sums.
However, the amount reached a new high peak after the airdrop. According to CoinDesk, Ukraine acquired more than 7 million dollars in digital assets after the government’s tweet.
This Wednesday alone, government addresses have acquired almost $1.1 million in Ether and $6 million in DOT and other digital currencies.
a CryptoPunk NFT got also Included
The community quickly responded in its support behind Ukraine as the armed conflict with Russia escalated. But not all have been limited to sending funds in cryptocurrencies known as Bitcoin.
The Ukrainian government does not seem to have received the NFT or whether it intends to sell it on the market to receive the liquidity the nation needs for its military group.
Michael Chobanian has been supporting the Ministry of Digital Transformation to manage the constant donations the nation is receiving and highlighted that at least $14 million of the digital assets received got spent on military aid and supplies for civilians, including food.
By: Jenson Nuñez
