"We built this interface so anyone who wants to donate but holds other ERC-20 tokens can do so with one click," stated the Uniswap team.
Uniswap, a decentralized exchange, unveiled an interface on Tuesday that swaps ERC-20 tokens, like Aave, Chainlink's LINK, and Decentraland's MANA, for Ether directly (ETH). In a single transaction, the coins are transferred to the Ukrainian government's official crypto addresses.
Uniswap stated in its explanation of the launch that the address shared by Ukraine is located on a centralized exchange and exclusively accepts Ether and Tether (USDT). As a result, the feature streamlines the contribution procedure for anyone with ERC-20 tokens on Uniswap's list who intends to contribute by linking their wallet to the DEX.
However, according to a tweet quoted by the Uniswap team, several members of the crypto sector are concerned that "the keys to these wallets are held by a centralized Ukrainian exchange" and are requesting a more "secure custody approach." Meanwhile, Ukraine added donation support to Polkadot's DOT earlier today. Gavin Wood, the founder of Polkadot, voluntarily donated $5.8 million in DOT to the new supported address. The blockchain industry has been engaged in assisting Ukraine in its fight against a blazing war. Apart from donations, initiatives such as nonfungible token drops to help Ukrainian artists and UkraineDAO have acquired traction.
According to data, the Ukrainian government and charitable groups in the country have acquired more than $53 million in donations.
The figures are based on recorded projects and do not include donations made between people or through multiple altcoins. Kuna's Reserve Fund of Ukraine, Come Back Alive, and Bitcoin (BTC), Ether, Tether, and DOT transferred straight to wallet addresses authorized by the Ukrainian government are among the prominent donation projects. However, it is noteworthy that the increase in donation value is due in part to capital growth as a result of the crypto markets' continuous rise.