Ukraine DAO Is Established on February 25, Is This A Good Way to Support Ukraine?

Ukraine DAO

Ukraine’s Ministry of Defense established a designated bank account to accept donations for its troops on Wednesday. Nonetheless, the Ministry stated that it can only accept fiat currency donations and is unable to accept donations made through cryptocurrencies or other payment systems such as PayPal.

Therefore, a Ukraine DAO which can gain money in the crypto space has established on February 25 and announced by a Twitter account @pussyriot. They said their goal is “to raise funds to donate to Ukrainian civilian organizations who help those suffering from the war that Putin started in Ukraine,” and they will buy a Ukrainian flag or an NFT to support this nation.

Cryptocurrency donations have poured in for the Ukrainian army in the last 24 hours as Russian forces continue to attack the country. According to research from blockchain and crypto analytics firm Elliptic, Come Back Alive, a Ukrainian nongovernmental organization that raises crypto funds for the Ukrainian army has received more than $400,000 worth of digital tokens in the last day. The average donation is between $1,000 and $2,000, and the organization has received at least 317 individual contributions in the last two days. As a result, this is a fantastic opportunity for this organization to raise funds to help the attacked nation as soon as possible.

On February 25, at 11 a.m., there will be a meeting with this organization to understand more about how it works to achieve its goal.

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