Uniswap sets up an interface to swap ERC-20 tokens into ETH donations for Ukraine

Uniswap exchange has built an interface that allows anyone who wants to donate to Ukraine but holds other ERC-20 tokens to do so with ease,
Uniswap sets up an interface to swap ERC-20 tokens into ETH donations for Ukraine

Uniswap, a decentralized exchange, introduced an interface on Tuesday that allows users to convert ERC-20 tokens like Aave, Chainlink’s LINK, and Decentraland’s MANA to Ether (ETH). The coins are then sent in one transaction to the Ukrainian government’s official crypto wallet addresses.

Uniswap said that the address supplied by Ukraine is on a centralized exchange that only accepts Ether and Tether in its explanation of the rollout (USDT).

As a result, anyone owning ERC-20 tokens on Uniswap’s list who wishes to give by connecting their wallet to the DEX can do so more easily.

However, some members of the crypto community are concerned that “the keys to these wallets are held by a centralized Ukrainian exchange,” according to a tweet cited by the Uniswap team, and are calling for a more “safe custody strategy.”

Regardless, Ukraine added donation support to Polkadot’s DOT earlier today. Gavin Wood, the founder of Polkadot, gave $5.8 million in DOT to the newly supported address.

The blockchain community has been engaged in assisting Ukraine in its fight against the ongoing conflict. Aside from donations, initiatives like nonfungible token drops to benefit Ukrainian artists and UkraineDAO have garnered traction.

Donations continue to troop in for Ukraine

At the time of writing, the Ukrainian government and nonprofit groups have received more than $53 million in donations, according to recent data.

The figures are based on monitored projects and do not include individual donations or donations made using multiple altcoins.

Kuna’s Reserve Fund of Ukraine, Come Back Alive, and Bitcoin (BTC), Ether, Tether, and DOT transferred directly to wallet addresses verified by the Ukrainian government are among the notable donation projects.

It’s worth mentioning, though, that the increase in the value of the donations is due in part to capital appreciation as a result of the cryptocurrency markets’ continued boom.