The Ministry of Digital Transformation of Ukraine, the FTX cryptocurrency exchange and the Ukrainian decentralized staking provider in the blockchain industry Everstake launched the Aid For Ukraine website to raise funds from the crypto community for the military and humanitarian needs of Ukraine.
"This is the first time a cryptocurrency exchange has provided a channel for donating cryptocurrencies to a public financial institution," the initiators said in a statement.
According to it, anyone can choose the desired amount in the selected cryptocurrencies for donation, connect the wallet and confirm the transaction in the same convenient interface.
The fundraising process will be monitored in real time on the website. The total amount of donations will be summed up and pre-expressed in U.S. dollars at the Coingecko exchange rate.
The website also allows more cryptocurrencies to be added to the initiative thanks to the participation of Everstake, the largest decentralized staking provider in the industry, according to the release. For now, users can donate to existing ministry wallets in BTC, ETH, USDT (TRC-20), DOT, SOL, DOGE, and XMR. The initiative also added ICX, EOS and NEO.
"Freedom has always been the foundation of the crypto community. This is the same fundamental value that Ukraine is now fighting for, and the crypto community expressed a strong desire to help Ukraine immediately after the start of this terrible war," Serhiy Vasylchuk, the CEO of Everstake, said.
"The ICON Foundation is joining the efforts of the global community by donating $1 million to help the Ukrainian people. I hope that our technology and community can make a small contribution during this difficult time," ICON Founder Min Kim said.
Aid For Ukraine cooperates with the FTX cryptocurrency exchange, which converts received cryptocurrency funds into fiat currency and sends donations to the National Bank of Ukraine. Earlier this month, FTX already converted $1 million worth of SOL and transferred it to the NBU.