Ukraine has verified that users who donated cryptocurrency to its official digital wallet addresses will get an airdrop.
In the last couple of days, the cryptocurrency has mobilized to assist Ukraine in its struggle against Russia’s military attack. The government pleaded for Bitcoin (BTC), Ethereum (ETH), and Tether (USDT) donations on Saturday, and has since begun to accept TRON (TRX), Polkadot (DOT), and Solana (SOL). Up to this point, donations to the government have totaled more than $28 million.
The people of Ukraine fighting for our freedom are forever grateful to Gavin Wood @gavofyork for the generous donation of $5M of @Polkadot $DOT as promised publicly. Thank you from all of us here in Ukraine working for a peaceful future 🇺🇦
— Ukraine / Україна (@Ukraine) March 1, 2022
As a reward for launching an initiative, project teams generally distribute free tokens to specified individuals within the early adopters in the cryptocurrency ecosystem. They are commonly employed as a marketing strategy as well. Tokens are usually produced from scratch and start off as assets with no inherent worth. Nevertheless, depending on their usefulness or value proposition, they could become desirable at some point in the distribution aftermath.
In other circumstances, platforms or organizations would distribute free Bitcoin (BTC) to entice consumers to sign up. El Salvador, for one, distributed $30 worth of Bitcoin (BTC) to each resident who installed the official Chivo digital wallet app in terms of promoting Bitcoin (BTC) mainstreaming.
Airdropping Bitcoin (BTC), on the other hand, would defeat the goal of the humanitarian campaign in Ukraine. While the country has not revealed made specifics about the airdrop public, given the restricted programmability of Bitcoin (BTC), it is reasonable to presume it will take place on another blockchain entirely.
Ukraine will be able to award its contributors with fungible tokens, non-fungible tokens (NFTs), or even POAP badges that have no value if the airdrop is performed on Ethereum (ETH) or Polkadot (DOT). In reaction to Ukraine’s statement, TRON (TRX) founder Justin Sun stated that it would not be fair to TRON (TRX) supporters to be omitted from the payout, which triggered backlash across the cryptocurrency ecosystem.
Justin Sun took to Twitter to argue that “it is not a matter of expecting a return but if an airdrop is going to all that donated and excluding TRON is UNJUST!”
Ukraine’s notification of an airdrop appears to have been extremely successful in garnering additional contributions. According to Zerion stats, Ethereum (ETH) contributions started pouring in shortly after the airdrop notice.
Ukraine has collected more than $3 million in Ethereum (ETH) and Tether (USDT) in more than 5 hours, accounting for about 1/3 of all money raised on that address after Ukraine started taking cryptocurrencies four days ago.
Although the government of Ukraine has collected about $28 million, other funding initiatives have garnered a minimum of $23 million, along with a Bitcoin (BTC) appeal from the NGO Come Back Alive and numerous NFT projects. The amount received via Bitcoin (BTC) already exceeds the United Nations’ financial contribution to Ukraine, that is now valued at $20 million, approximately.