Ukraine is all set to undertake a bitcoin airdrop on March 3 to boost its fundraising drive. The Ukraine government has declared that bitcoins given to the country’s official wallet would be airdropped. During the country’s continuing battle with Russia, companies, non-governmental organizations, and individuals have already donated over $30 million in digital assets.
Ukraine’s Effort To Mobilise Funds
Ukraine began collecting cryptocurrency as a kind of donation a few days after Russia launched its “special military operation”. Gavin Wood, the founder of Polkadot, added his name to the list of contributors by offering over $5 million in DOT yesterday (March 1). Authorities expressed their gratitude to him and hinted at a probable airdrop in the near future.
Ukraine’s ruling authority said on March 2 that such a distribution will take place on March 3. It further said that Mykhailo Fedorov (Vice President of the Republic) will provide additional information regarding the effort.
A crypto airdrop is a promotional event in which an organization distributes free tokens to members of its network. The move is meant to encourage people to use those assets.
This isn’t the first time a government has carried out a citizen airdrop. El Salvador’s government issued $30 worth of bitcoin to each adult who signed up for the scheme last summer, as the country prepared to use bitcoin as legal cash.
Despite this, Ukraine’s effort will be the first one in terms of launching an airdrop funded by bitcoin donations. It’s unclear what assets will be allocated, given that the authorities have been collecting Bitcoin (BTC), Ethereum (ETH), Polkadot (DOT) and Tether (USDT) as contributions.
Crypto Community Enhances The Defence of Ukraine
Ukraine has received strong support from organizations and individuals in the crypto community over the last few days.
Binance, for example, made a $10 million donation to the country. The world’s largest digital asset exchange, however, has stated that it would continue to service Russian accounts. “Crypto is designed to bring more financial independence,” the corporation stated, and such an attempt would go against its beliefs.
It’s also worth mentioning that a huge number of unknown individuals gave large sums of cryptocurrency to Ukraine. One anonymous donor gave 80 BTC to Come Back Alive, a charitable group that provides supplies to the Ukrainian army. It was worth more than $3 million at the time of the donation.
