Ukraine began accepting donations in the form of digital money or crypto Dogecoin to finance its army which is currently at war with Russia.
The cryptocurrencies that Ukraine accepts to help finance its military apart from dogecoin are solana and others.
Quoting CNBC International, the use of crypto money as financial assistance for Ukraine was announced by Deputy Prime Minister of Ukraine Mykhailo Fedorov, Wednesday (2/3/2022) local time. He said people could send Dogecoin for donations to their country.
“Now even memes can help our soldiers and save many lives from the Russian invasion,” Fedorov wrote on his personal Twitter account.
Previously, Fedorov had said that there is currently a project called Aid for Ukraine that is currently underway. The project is a collaboration of the Ukrainian government, Everstake, and a crypto blockchain platform called Solana.
Apart from accepting crypto money as donations, Ukraine has also started to allow tokens or NFTs (non fungible tokens) as donations that people can make for the country. NFTs are digital assets that are stored using blockchain technology.
Meanwhile, cryptocurrency exchange platform Uniswap has built a function that allows people to convert Ethereum-based digital currency into ether and send it to the Ukrainian government. Ethereum is a blockchain platform that developers can build on top of.
Ukraine also said it had received DOT crypto money equivalent to US$5 million from the co-founder of blockchain platform Polkadot. Fedorov said this donation really helped his country to win against Russia and helped people in trouble.
Since the war between Ukraine and Russia began, Ukraine has raised $35 million in crypto donations. Ukraine has been accepting cryptocurrencies as a form of donation since February 26.
Initially, Ukraine only accepted donations in the form of cryptocurrencies bitcoin, ether and tether. However, currently the amount of crypto money that the country accepts is increasing in type.