Ukraine fundraising campaign raises $1.8M from crypto community within 72 hours

By Reuben Jackson, blockchain security consultant

Following Russia’s invasion of Ukraine, the global outcry has emerged as the glue binding together a broader community-based response. Millions of dollars worth of cryptocurrencies are pouring in from all directions for the Ukrainian government, its military, NGOs, and activists on the frontline, helping defend against the invasion while providing much-needed aid to civilians.

In one such effort, Unchain Ukraine, a global crypto-native fundraising campaign launched on February 25, 2022, has raised $1.8 million worth of crypto donations for Ukraine to date. Unlike the Ukrainian government which is directly accepting crypto donations in BTC, ETH, DOT, and USDT via Tron Network, Unchain Ukraine is accepting a plethora of altcoins. The list of accepted cryptos includes BNB, BUSD, USDT, USDC, ETH, ONE (Harmony), MATIC, NEAR, AVAX, CELO, and DOT across more than eight different blockchains.

The Unchain Ukraine initiative is a crypto-native community of more than a thousand contributors who are active globally, collecting and coordinating funds for humanitarian aid, including but not limited to migration support, protective equipment, food, medicine, communication, cybersecurity tools, and more. All funds will be distributed amongst vetted local Ukrainian initiatives and other organizations that are providing humanitarian aid in these desperate times like Voices of Children, Vostok SOS, Project CURE, International Medical Corps, Polish Center for International Aid, and People In Need.

Within just 72 hours of its launch, Unchain Ukraine has received support and donations from communities, organizations, and individuals worldwide. Some of the most notable contributions to the Unchain Ukraine initiative include those from Polygon, Solana, Pool Together, pet3rpan, NEAR Protocol, Stefan George, and many more.

On raising $1.8 million in such a short period, Rev Miller, one of the co-organizers of Unchain Ukraine, notes, “Our story is just another example that human will and dedication can make a difference, especially during the crisis period. We’ve gone from an idea to $1.8 million raised with the global community within 72hrs. All of these funds will be used for humanitarian aid only, and we are really thankful to the global community for coming together to truly make a difference for those in need in Ukraine.”

The Unchain Ukraine contributors community is conducting a vetting process of the organizations and causes the group will fund to ensure maximum transparency. All funds raised are fully transparent, with multi-signature signers from some of the most prominent platforms like NEAR Protocol, Gitcoin, 1kxnetwork, Atlantis World, Allbridge.io, Binary, MoneyWeld, and Harmony Protocol. Moreover, the decision-making and overall distribution process are open to community members.

Ukraine ranks among those nations with the highest adoption rate for cryptocurrencies due to its tech-savvy population. In light of an invasion now threatening the nation’s conventional banking network, it has turned to cryptocurrencies to sustain relief efforts for its citizens. Several other activists and organizations are also working diligently to raise funds for Ukraine, including the Russian feminist protest group Pussy Riot’s newly launched UkraineDAO, the Reserve Fund of Ukraine which is backed by Ukraine’s native crypto exchange Kuna, and Come Back Alive, the NGO helping Ukrainian Armed Forces’ resistance efforts, among others.

In the meantime, crypto users across the globe are continuously asking the Ukrainian government to expand their list of accepted cryptocurrencies to other altcoins, not just BTC, USDT, and ETH. To that extent, industry leaders like Polkadot co-founder Gavin Wood and CEO and co-founder of VeChain Sunny Liu have tweeted to the Ukrainian government, proposing acceptance of DOT and VET donations. According to the latest tweets, Gavin Wood will contribute $5 million in DOT, and Sunny Liu is donating $8 million in VET.

Per real-time data published by blockchain analytics firm Elliptic, the Ukrainian government and other non-profit organizations have raised around $24.6 million to date. Of the total funds, the addresses listed by the Ukrainian government on their Twitter handle on February 26, 2022, have received $17.1 million from a total of 20,680 transactions.

If you want to learn more, make a donation, or learn about other ways to help, please visit unchain.fund. 

Reuben Jackson is a blockchain security consultant