UkraineDAO: The First Crypto War
Using the power of web3 and community to raise funds for Ukrainian organizations that are helping those suffering from the war
Four days ago, on February 24th, Russia invaded Ukraine to fulfill President Vladimir Putin’s mission of slowly restoring the Soviet Union. This leaves the 44 million citizens of Ukraine in a precarious position where life as they know it has been turned upside down, and their homeland is now a warzone. According to Reuters, there have already been more than 240 civilian casualties and 64 deaths. With the world watching these egregious acts many have wondered how they could help. One way is by donating to UkraineDAO which is raising funds to help those suffering in Ukraine.
UkraineDAO was set up with this one purpose and in less than a week has already raised more than $3.5 million dollars from more than 2,000 contributors. GoFundMe’s recent decision to block donations to Canadian truckers protesting Covid 19 restrictions, since it was not a political movement they supported, highlights that it is more important than ever for there to be multiple platforms users can choose when donating their money (CBS News).
There are two ways to donate money to UkraineDAO and support those who are currently suffering.
Donations can be made by sending cryptocurrency directly to UkraineDAO.eth (more than $250,000 have already been sent)
“If you would like to make a donation available immediately for disbursement via UkraineDAO, then this is a good option if you do not have an on chain wallet set up already (i.e. you would like to send directly from an exchange like Coinbase).”
Donations can be made by participating in the party bid for a 1 of 1 NFT of the Ukrainian flag
“PartyBid lets people pool their capital together to purchase NFTs as a team. Anyone can create or join a Party to collectively bid in an NFT auction or purchase an NFT that’s on sale at a fixed price.”
The current top bid stands at 1,103 ETH (~ $2.9 million) and the PartyBid pooling is currently at $3.3 million with the auction ending on March 3rd at 7:00 am EST.
“Contributors will receive tokens proportional to the amount of your ETH used in the winning bid. If the party loses the bid, or not all of your ETH is used to win the NFT, you will be able to claim the remaining unused funds from your bid.”
Funds raised from this DAO will go towards Ukrainian civilians who help those suffering from the war initiated by Putin, and one of the most effective and transparent Ukrainian charitable and volunteer initiatives: https://savelife.in.ua
Additionally, in what is now being called the first “Crypto War”, the official Ukrainian Twitter account made the world aware that they are now accepting crypto donations. According to Decrypt, these two crypto wallets have received over $19 million in donations since the Russian invasion began.
DAOs provide an efficient, transparent, and decentralized way for people to raise money. With every transaction visible to UkraineDAO.eth and the PartyBid, there is no doubting where the money is going. Learn more and help those in need today by using one of the links below.
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