Ethereum co-founder is with DAO that raised $8 million to aid Ukraine

The Ethereum co-founder has been discreetly helping a DAO that helped Ukraine raise $8 million in cryptocurrency.

Alona Shevchenko was terrified when she learned that Russian President Vladimir Putin and his army were ready to invade Ukraine. On Jan. 19, Shevchenko, a 28-year-old Ukrainian living in the United Kingdom with family in Ukraine, learned of the impending invasion via a buddy connected to Ukrainian intelligence.

Alona Shevchenko Against the war but not crypto

A DAO that raised $8 million in bitcoins for Ukraine has been covertly supported by an Ethereum co-founder.

She spent weeks protesting in front of the Russian embassy in London. She wrote a blog entry about the war in Ukraine on February 21 to inform others about what was going on.

Shevchenko, on the other hand, is not your typical individual. She is a key member of a lot of well-known crypto DAOs, and she has friends who are as well.

How DAO to aid Ukraine was established?

Shevchenko and two pals from Pleasr DAO, which collects art, held a group chat on the same day she published her blog post to discuss the possibility of forming a DAO dedicated to raising money for Ukraine.

DAOs are decentralized autonomous organizations (DAOs) that are run by a single administrator. The rules and governance of the DAO are written in smart contracts and can only be altered by DAO members. Each DAO has its own set of missions and objectives. It’s like a decentralized group chat amongst individuals with a shared bank account.

Shevchenko’s three-person group chat expanded quickly into the Ukraine DAO, which attracted thousands of members to its Discord, a popular crypto-community messaging platform. In less than a month, the Ukraine DAO raised nearly $8 million for organizations and individuals aiding Ukrainians harmed by the violence.

Some well-known crypto figures, like Vitalik Buterin, the Russian-born co-founder of the blockchain that powers Ethereum, the second most valuable cryptocurrency, and Buterin’s father, Dmitry, became engaged throughout the process.

So far… soo good

So far, the Ukraine DAO has raised about $8 million, according to Shevchenko.

It has given $7 million to a variety of groups, including Comes Back Alive and the Ukrainian government. Ethereumscan, a website that displays crypto wallet transactions, can be seen.

The DAO raised $6.7 million via the sale of portions of an NFT of the Ukrainian flag, according to PartyBid, a platform that allows people to pool resources to acquire NFTs (non-fungible tokens) as a group.

The NFT’s ownership was shared proportionally among the ETH contributors who contributed to the NFT’s winning bid.

Shevchenko says that she works in Ukraine for about 14 hours every day. She spends much of her time at home.

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Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing