Support for Ukraine is growing and so is the cryptocurrency community. Trippy Labs, PleasrDAO and one of the founders of the Russian anti-Putin music group Pussy Riot have launched the decentralised autonomous organisation (DAO) called Ukraine DAO.
Ukraine DAO launched to support the country
Russia’s invasion of Ukraine has led to a wave of support for Ukraine. Cryptocurrency users wanted to do their part and show the value of blockchain technology in such a situation.
Thus, one of the founders of Pussy Riot, Nadia Tolokonnikova, together with Trippy Labs and PleasrDAO, launched Ukraine DAO in support of the country. The announcement was made on Twitter
welcome to @Ukraine_DAO
our goal is to raise funds to donate to Ukranian civilian organizations who help those suffering from the war that Putin started in Ukraine.
we’ll be buying an NFT of Ukrainian flag.
much support and love to Ukraine @TrippyLabs @PleasrDAO pic.twitter. com/cxVS7OiP2K
– (@pussyrrriot) February 24, 2022
As stated in the tweet, the aim of this DAO is to raise funds for Ukrainian organisations to help the civilian population who may be suffering from the war.
As a reminder, a DAO is an automated organisation whose rules of governance are immutably and transparently recorded on a distributed register. This allows it to be uncensored by a government, open to all, transparent and international.
The cryptocurrency world supports Ukraine
Tolokonnikova said that 10,000 NFTs of the Ukrainian flag would be put up for sale and the proceeds will be donated to the Return Alive Foundation and the NGO Proliska. The Russian singer added that Ukraine DAO would itself buy a non-fungible token (NFT) of the Ukrainian flag.
Trippy Labs is an artist, who recently worked with the DAO FreeRossDAO. The latter aims to sell a collection of NFTs in support of Silk Road founder Ross Ulbricht. PleasrDAO is a collective of digital artists and collectors who acquire art for charity
Immediately mobilizing to start Ukraine DAO w/ @pussyrrriot @PleasrDAO & Trippy Jetpack DAO. Let’s save some lives…
– Trippy Labs (@TrippyLabs) February 24, 2022
This is the second major initiative in the cryptocurrency world in support of Ukraine, following the donation of $400,000 in Bitcoin (BTC) to the Ukrainian armed forces.
The non-discriminatory nature of the digital assets makes them of interest to both Ukraine and Russia. Indeed, should Russia be excluded from the Swift network, it may well turn to crypto-assets. Perhaps this is why Russia is moving towards cryptocurrency legislation…
