Fri. Jul 1st, 2022

After three official wallets were activated to donate Bitcoin, Ethereum and Tether, the news of the creation of a DAO also came, UkraineDAOto support Ukraine.

UkraineDAO, raised $7 million in ETH

The main purpose of this DAO is to support the huge military spending and non-profit organizations that help the Ukrainian people.

What is amazing is that in a short period of time, this decentralized autonomous organization has managed to raise $7 million worth of Ethereum!

A result that really surprised everyone and that is the result of the joint effort between the investment group PleasrDAO, the NFT studio Trippy Labs and the Russian art collective Pussy Riot.

Crypto community helps Ukrainians

The funds raised, as mentioned above, will be used in full to support non-profit organizations, Ukrainians struggling to withstand the Russian invasion, and also the army.

Alona Shevchenkoco-founder of the project, is extremely grateful and excited about how things are going, she said:

“For me, UkraineDAO is about giving Ukraine the help it needs and providing those connections that bring people together who are willing to help or who need help.”

Auction and large direct donations

On February 27, the DAO launched an auction for a unique NFT, an image depicting the Ukrainian flag.

A total of 2258 ETH through the auction 3271 donors!

A great success, of that there is no doubt. The largest donations were made especially during the closing hours of the auction itself. The co-founder of UkraineDAO, CryptoSteve wanted to point out that there was three great contributions which reached 101.5 ETH (approximately $300,000) in just eight minutes.

Donations to UkraineDAO Everything else was raised through direct donations.

Vitalik Buterin also supports UkraineDAO

Even though Vitalik Buterin is of Russian descent, has not been slow to express his position on this new armed conflict. The founder of Ethereum immediately stated that is on the side of the Ukrainians. Vitalik has also tried to use his visibility and influence in the world of cryptocurrencies to sponsor and help UkraineDAO, which allowed the organization to reach its goal in a very short time. If you want to donate, the process is very simple. All you need to do is go to the DAO website and connect your wallet. A simple and safe operation that, although small, can really make a difference for the Ukrainian people who are about to be brought to their knees by the Russian giant.

By Farwa Raza

Farwa Raza is a writer who specializes in news articles. She has been writing on wttspod.com for over one years, and during that time she has written over 100+ articles on various topics ranging from politics to entertainment. Her goal as an author is to provide readers with the latest news stories while also providing her own opinion on them.