LOGO_CRYPTO_SIGHT

Uniswap Developed interface Supporting Altcoins Conversion Into ETH For Ukraine

By | March 3, 2022
coin, alt coin

Decentralized exchange Uniswap reportedly introduced an interface that supports the direct conversion of ERC-20 tokens, like Aave, Chainlink’s LINK and Decentraland’s MANA, to Ether. 

Specifically, the coins will reportedly be transferred to the official crypto wallet addresses of the Ukrainian authority, all in one individual transaction. 

Regarding the explanation of the introduction, Uniswap reportedly shared that the address shared by Ukraine is located on a centralized exchange, with Ether and Tether (USDT) being the two viable coins. 

Hence, the functionality reportedly makes the donation process easier for anyone holding ERC-20 tokens on Uniswap’s list and who wishes to donate via linking their wallet to the DEX.

However, via a Twitter post from the Uniswap team, a few members of the crypto community reportedly shared worries regarding “The keys to these wallets are held by a centralized Ukrainian exchange”, and are inquiring for a custody approach with an enhanced level of security. 

Nevertheless, Ukraine reportedly released facilitating features for donations in Polkadot’s DOT earlier today. 

Polkadot’s founder Gavin Wood himself reportedly made a contribution of $5.8 million in DOT to the freshly supported address. 

The blockchain community has reportedly been adopting a supporting stance in assisting Ukraine resisting an ongoing war. 

Apart from donations, different attempts like non fungible tokens drops for helping out Ukrainian artists and UkraineDAO have also been gathering attention. 

The Ukrainian authority and nonprofit organizations functioning locally have reportedly received over $53 million in donations at the time of publication. 

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