Uniswap (UNI) to ease Ukraine crypto donations through a new interface

Uniswap, a leading decentralized exchange (DEX), has announced the launch of an interface that will facilitate the conversion of ERC-20 tokens into Ethereum. ERC-20 tokens include Aave (AVAE/USD), Chainlink (LINK/USD) and Decentraland (MANA/USD).

The conversion of these tokens will make it easy for people to donate to the Ukrainian military.

Uniswap to facilitate donations to Ukraine military

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Through this newly-launched feature, it will be easy for donations to be made through the Uniswap DEX. Anyone on the DEX who wishes to donate to Ukraine can easily link their wallet to the DEX.

While this is a noble action by the Uniswap team, some crypto community members have expressed their concerns about these crypto donations. The concerns revolve around the keys to these wallets being held by a centralized exchange in Ukraine. These users are now asking for a “secure custody approach” to donate towards Ukraine.

Despite these concerns, Ukraine continues to receive crypto donations, with the government recently adding a DOT address. The founder of Polkadot, Gavin Wood, has donated $5.8 million worth of DOT tokens to this wallet address.

Crypto donations pouring into Ukraine

The blockchain community has been actively involved in supporting the Ukrainian people since Russia’s invasion of the country. Non-fungible tokens (NFTs) have also been involved in the financial support efforts, with initiatives such as UkraineDAO already gaining traction.

The Ukrainian government and non-profit organizations have been receiving overwhelming donations. Over $53 million worth of donations has already streamed into the country.

This donation amount does not include the data of individuals who have personally donated towards the cause or the donations made through other altcoins. Bitcoin, Ether and Polkadot have stood as the most popular cryptocurrencies used for these donations. The donations are being sent to the wallet addresses verified by the Ukrainian government. However, the increase in donations could be attributed to the increased value of cryptocurrencies across the charts. This week, cryptocurrencies have been in a bold rally after a major recession last week.