Ukraine Accepts DOGE as Justin Sun Criticizes Airdrop
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Ukraine Accepts DOGE as Justin Sun Criticizes Airdrop

Created 1yr ago, last updated 1yr ago

More than $50 million has now been raised across multiple cryptocurrencies, but Justin Sun has controversially claimed that it is "unjust" that TRON donors are being excluded from an airdrop.

Ukraine Accepts DOGE as Justin Sun Criticizes Airdrop

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Ukraine has announced that it now accepts donations in Dogecoin.

The country's deputy prime minister, Mykhalio Fedorov, said the memecoin has the potential to "support our army and save lives from Russian invaders."

He also called on Dogecoin's founder Billy Markus to make a contribution — as well as renowned enthusiast Elon Musk.

Markus quickly took up the offer to get involved, and replied:

"Dogecoin folks aren't usually rich and Dogecoin itself is generally used for small transactions, but we are a caring and passionate bunch. Those who want to help will offer what they can — I hope the country can heal and rebuild stronger after all of this."

At the time of writing on Thursday morning, Ukraine's official DOGE wallet had received $68,447 in donations — a modest figure compared with the millions of dollars that has been donated through other cryptocurrencies.

Data shows that over $50 million has now been raised across all cryptocurrencies.

A huge spike in transactions was seen after Ukraine unveiled plans for an airdrop that would "reward" contributors, with a snapshot of donors set to be taken later today. Many of them have been for miniscule amounts of Ether — as little as $0.30 — prompting speculation that wallets may only be eligible to benefit from the airdrop if their donation exceeded a particular threshold.

Although critics have lamented the surge in activity as a sign that some crypto users are merely interested in the reward that's on offer — rather than actually helping those in need — the airdrop has undoubtedly been a powerful incentivization tool that has ultimately enabled the country to raise more money.

Justin Sun has attracted criticism after he claimed that TRON users who donated more than $1.2 million in stablecoins are being "ignored completely" by the airdrop — writing on Twitter that it was "UNFAIR" and "UNJUST!"

The tweets were condemned for being tone deaf and out of touch — and he was told that people should be donating because it is a good cause, not because they expect something in return.

Crunching the Numbers

Figures released by the blockchain intelligence firm Elliptic suggest that more than 72,000 donations have been made so far.

Contributions are not just being made in cryptocurrencies either, as a CryptoPunk NFT worth an estimated $200,000 was recently sent to an Ethereum wallet belonging to the Ukrainian government.

CryptoPunk #5364 wears sunglasses, smokes a cigarette and wears a blue bandana.

A breakdown shows that 31.3% of donations have been made in Bitcoin, while 28% have been made in Ether, 23% in DOT, and 16% in stablecoins.

UkraineDAO — a decentralized autonomous organization backed by the Russian protest group Pussy Riot — has also raised 2,167 ETH, worth $6.3 million at the time of writing.

A one-of-a-kind NFT of Ukraine's flag was being auctioned off to the highest bidder, with 100% of the proceeds being directed to helping Ukrainian civilians.

Alex Bornyakov, Ukraine's deputy minister of digital transformation, has offered an insight into how the government is spending some of the crypto that it has received.

Earlier this week, he confirmed that part of the funds have been used to purchase "thermal imagers, drones and other military equipment needed for our army."

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