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UkraineDAO has raised $7 million in ETH to support Ukraine
UkraineDAO has raised $7 million in ETH to support Ukraine
Crypto

UkraineDAO has raised $7 million in ETH to support Ukraine

By Martina Canzani - 2 Mar 2022

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

UkraineDAO, raised $7 million in ETH

The main goal of this DAO is to support the huge military expenditures and non-profit organizations that are helping the Ukrainian people. 

The surprising thing is that in a short period of time, this decentralized autonomous organization has managed to raise $7 million in Ethereum!

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

Crypto community helps Ukrainian people

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

Alona Shevchenko, co-founder of the project, is extremely grateful and enthusiastic about how things are going, she said:

“To me, UkraineDAO is about providing Ukraine with the help that it needs, and providing those connections that unite people who are willing to help or that need help”.

Auction and large direct donations

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

A total of 2,258 ETH was raised through the auction from 3,271 donors!

A great success, there is no doubt about it.

The biggest donations were made especially during the last hours of the auction itself. 

UkraineDAO co-founder CryptoSteve was keen to point out that there were three large contributions that reached 101.5 ETH (approximately $300,000) in just eight minutes.

Donations to UkraineDAO
Donations to UkraineDAO

Everything else was raised through direct donations.

Vitalik Buterin also supports UkraineDAO 

Although Vitalik Buterin is of Russian descent, he has not delayed in expressing his position on this new armed conflict.

The founder of Ethereum immediately declared that he is on the side of the Ukrainians. Vitalik has also tried to use his visibility and influence in the crypto world to sponsor and help UkraineDAO, allowing the organization to reach its goal in a very short time.

If you would like 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 to the Ukrainian people who are about to be brought to their knees by the Russian giant.

 

Martina Canzani

Graduated in Law at the University of Milan. After completing her academic studies, she became interested in the world of blockchain, finding it a powerful tool for redemption. Her passion then turned into a job, and now she invests in early-stage projects in decentralised finance and DAO and writes articles on all the news concerning the crypto world.

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