Uniswap Donates to Ukraine to Build Interface to Convert Altcoins to ETH

On Tuesday, decentralized exchange Uniswap launched an interface to directly convert ERC-20 tokens such as Aave, Chainlink’s LINK and Decentraland’s MANA into ETH. These coins will then be sent to the official crypto wallet address of the Ukrainian government, all in one transaction.

Explaining the launch, Uniswap stated that the Ukrainian share address is on a centralized exchange that only accepts ETH and USDT. Thus, this feature simplifies the donation process for anyone who holds ERC-20 tokens and wishes to donate by connecting their wallet to this DEX.

The address shared by the Ukrainian government is for a centralized exchange that appears to only accept USDT and ETH. We built the interface so that anyone who wants to donate but holds other ERC-2 tokens can do so with one click. https://t.co/0BfhARcgxS

— Uniswap Labs (@Uniswap) March 1, 2022

But in a tweet cited by the Uniswap team, some members of the crypto community expressed concern that “the keys to these wallets are held by a centralized Ukrainian exchange” and demanded a more “secure approach to custody.” Nonetheless, Ukraine rolled out support for Polkadot’s DOT donations earlier today. Polkadot founder Gavin Wood personally donated $5.8 million in DOT to the newly supported address. The blockchain community has been active in helping Ukraine fight the ongoing war. In addition to donations, efforts such as non-fungible token offerings and UkraineDAO supporting Ukrainian artists have also gained attention.

At the time of writing, the Ukrainian government and nonprofits operating in the country have received more than $53 million in donations, according to data tracked by Cointelegraph. These figures are based on projects tracked and do not include donations between individuals or through various altcoins. Well-known donation programs include Kuna’s Reserve Fund of Ukraine, Come Back Alive, and Bitcoin, Ethereum, Tether, and DOT sent directly to Ukrainian government-verified wallet addresses. It’s worth noting, however, that the surge in donation value is partly due to capital appreciation from the continued rally in the cryptocurrency market.

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