03 March 2022

UKRAINE'S 'CRYPTO AIRDROP' A NO-GO

Hmmm...The crypto market was severely affected since Wednesday
A crypto airdrop is a promotional event for a new blockchain-based service. In an airdrop, participants are given free crypto coins or tokens by a new service. Those looking to participate in an airdrop require a crypto wallet to do so.
Airdrops involve crypto projects sending free tokens en masse to their communities in a bid to encourage adoption
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Ukraine Cancels Crypto Airdrop, No Plans to Issue NFTs

"Ukraine Vice Prime Minister and Minister of Digital Transformation Mykhailo Fedorov announced the country has canceled its planned crypto airdrop.

In a tweet, Fedorov revealed that the Ukrainian administration is suspending the “Peaceful World” token airdrop after “careful consideration.” Instead of an airdrop, the Vice Minister promised to “announce NFTs to support [the] Ukrainian Armed Forces.”

Fedorov, however, clarified that Ukraine has no “plans to issue any fungible tokens.”

Much earlier, the official Twitter page of Ukraine “confirmed” that an airdrop would happen after securing a $5 million dollar crypto donation from Polkadot Founder Gavin Wood. The airdrop was supposedly a move to reward the global community of donors for Ukraine while it fights back the Russian hostility.

Notably, this airdrop would have been the first of its kind for crypto donors and would have opened windows for new use cases for crypto across the general public.

The pronouncement from Fedorov received mixed receptions. Topping the discussion is a verified user who tweeted this in the thread:

This is the best rug ever

— Cobie (@cobie) March 3, 2022

While some users claimed to have anticipated the “rug-pull,” one user noted he does not mind the move and suggested Ukraine airdrop or put for sale some NFTs of the country’s scenic views instead."

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Ukraine Cancels Crypto ‘Airdrop’ Rewards for Donations

  • Nation will issue nonfungible tokens soon to support military
  • More than $33 million in crypto donations received so far
Updated on
Ukraine has scrapped a plan to reward people who donated to its fight against a Russian invasion with newly created crypto assets, following complications with the project.
 
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Crypto Airdrop: What's an Airdrop and Why Crypto Airdrops Are Issued

 

 

 
 
 
 

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