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Ukraine to reward its supporters with crypto tokens

written by Bella Palmer
crypto-tokens

In its tweet announcing the airdrop, Ukraine did not provide details on who would receive the airdrop gifts or what they would get

After raising almost $47 million through donations in Bitcoin and other cryptocurrencies, Ukraine announced Wednesday it would reward those who have helped fund the country’s war against Russian invasion through a promotional ‘airdrop,’ distributing crypto tokens directly into user wallets.

Usually, a company conducts an airdrop as a promotional tool to increase the number of users for a new token or blockchain project.

To unlock the free tokens, recipients are asked to complete a certain task, sometimes as simple as following a social media account, before the tokens are transferred.

In its tweet announcing the airdrop, Ukraine did not provide details on who would receive the airdrop gifts or what they would get.

Reportedly, that hasn't stopped people from making small donations to Ukraine's official crypto wallet, sometimes as tiny as $0.30 in Ether, in the hopes of getting a free gift from the Ukrainian government.

Ukraine’s proposed airdrop is not the first by a government. El Salvador, which accepts Bitcoin as legal tender, airdropped each of its citizens $30 worth of Bitcoin last year in an effort to promote uptake of the new currency.

Although cryptocurrency is legal in Ukraine, the government hasn't recognized cryptocurrency as legal tender. Yet Ukraine is expanding the number of cryptocurrencies it is willing to accept as donations, after Bitcoin, Ether, and other tokens proved a popular channel for funding the country's military and relief organizations.

On Wednesday, Ukraine Vice Prime Minister Mykhailo Fedorov tweeted that the government is now accepting donations in Dogecoin, referring to the popular meme coin supported by Elon Musk and Mark Cuban, as well as accepting donations in Solana.

Now even memes can support our army and save lives from Russian invaders, Fedorov said.

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