Ukraine backtracks on airdrop and looks to issue NFTs to support military

Ukraine has canceled plans to behaviour an airdrop that was owed connected March 3rd.

The country’s Prime Minister, Mykhailo Fedorov, tweeted that the state had backtracked connected the program aft “careful consideration” and is present looking to contented NFTs to enactment its military.

After cautious information we decided to cancel airdrop. Every time determination are much and much radical consenting to assistance Ukraine to combat backmost the agression. Instead, we volition denote NFTs to enactment Ukrainian Armed Forces soon. We DO NOT HAVE immoderate plans to contented immoderate fungible tokens

— Mykhailo Fedorov (@FedorovMykhailo) March 3, 2022

Airdrops typically springiness users escaped crypto to assistance propulsion adoption. However, it was unclear what Ukraine intended to airdrop and whether it would beryllium a caller cryptocurrency issued by the state.

Similarly, Fedorov has not divulged details astir the announced NFT task and it is unclear what signifier it volition take.

Microdonation spike pursuing Airdrop announcement

The airdrop announcements made connected Fedorov and Ukraine’s authoritative Twitter caused a surge successful micro donations to the state ranging from 0.01 ETH to 0.001 ETH, according to information from Dune Analytics.

Every azygous Ethereum artifact present has tx that is donating to the @Ukraine, 95% are either 0.001 eth oregon 0.01 eth trying to seizure the max worth of the airdrop. So acold 25k addresses person been donated. This is gonna beryllium truthful arguable either mode however it volition extremity up pic.twitter.com/dY3YTmMKTx

— 9x9x9🆘 (@9x9x9eth) March 2, 2022

Social media users began pointing retired that the caller donations were being made by radical trying to go eligible for the airdrop, with immoderate labeling the caller donations arsenic radical who lone attraction astir money.

the authorities of crypto pic.twitter.com/MhTjnhINvs

— NateAlex ლ⚈෴⚈ლ (@NateAlexNFT) March 2, 2022

Meanwhile, immoderate rumors accidental the microdonation surge is simply a “Sybil attack” to crippled the airdrop and maximize their airdrop rewards. Sybil attacks are erstwhile a azygous idiosyncratic makes aggregate donations from antithetic addresses to effort and crippled the system.

Some radical connected assorted societal media expressed dissatisfaction aft the airdrop was canceled, however, astir radical bash not attraction that they volition not beryllium rewarded for their donations.

More than $50 cardinal donated successful a week

Ukraine has raised much than $50 million successful crypto donations since the penetration began past week. Fedorov has been astatine the forefront of the country’s run to rise enactment done cryptocurrencies and present NFTs.

While astir of the donations are being made successful crypto, idiosyncratic donated a CryptoPunk NFT to the cause. Additionally, an Ethereum-based radical Ukraine DAO auctioned disconnected an NFT of the country’s emblem connected March 2nd for $6.75 cardinal — making it 1 of the astir costly NFTs ever sold.

🇺🇦 2250 ETH / $6.75M USD CONTRIBUTED TO THE UKRAINIAN FLAG NFT 🇺🇦

Thank you to each who supported our task 🙏

Next steps: POAP for each those who donated to partybid, enactment with Come Back Alive connected safely transferring funds

You whitethorn inactive donate ETH straight to ukrainedao.eth pic.twitter.com/GsQBLzHIVK

— UkraineDAO (@Ukraine_DAO) March 2, 2022

It is unclear however the proceeds are being spent owed to the nationalist secrecy involved. Ukraine has said that its Defense Ministry is successful complaint of disbursing funds and is chiefly utilizing it to bargain instrumentality for the military.

The state added that blockchain’s transparent quality makes it truthful anyone tin spot however the funds are being spent.