Ukraine Is Getting Aid From This DeFi Project

Blockchain networks are decentralized, meaning that they tin beryllium utilized to marque payments without centralized authorities deciding which transactions are allowed. While immoderate reason that specified systems tin alteration fraudulent transactions, blockchain networks usage precocious mathematical technologies called statement mechanisms to forestall this. Thus, blockchains tin beryllium utilized by peers to transact without fearfulness of fraud oregon censorship. In turn, cryptocurrency enables individuals to easy enactment the causes that they judge in, adjacent erstwhile reaching affected groups done accepted means whitethorn beryllium difficult.

While discussing this facet of cryptocurrency, the thought that cryptocurrency is often utilized for nefarious purposes is often argued. However, implicit 99% of cryptocurrency transactions are legitimate. In fact, it is often existent that cryptocurrency transactions are utilized for humanitarian purposes. The Giving Block, a ample cryptocurrency philanthropy platform, supports implicit 1 1000 nonprofit organizations astir the satellite and is projected to facilitate implicit USD 1 Billion successful donations by the extremity of 2022. When compared to the USD 100 Million successful donations that The Giving Block facilitated past year, this fig suggests that wide cryptocurrency donations are increasing alongside adoption.

Because cryptocurrencies are universal, that is they are not tied to idiosyncratic countries, they marque accepting donations from anyone successful the satellite imaginable during times erstwhile planetary governmental circumstances marque doing truthful done accepted wealth transportation methods incredibly difficult. As an illustration drawn from existent events, cryptocurrency is enabling Russian citizens who condemn Vladimir Putin’s penetration of Ukraine to nonstop assistance to Ukraine’s authorities and its people.

Since the archetypal time of combat, the broader cryptocurrency assemblage has stringently supported Ukraine’s independence. Within a period of Russia’s invasion, implicit USD 63 Billion successful assorted cryptocurrencies had been donated to Ukraine’s authoritative wallet addresses. Since then, donations person lone increased; according to tradingplatforms.com, past month’s donations unsocial topped USD $100 Million. The overwhelming donations being sent by the cryptocurrency assemblage are being utilized by Ukraine to bolster its defenses and rebuild.

Following their users, countless cryptocurrency projects person jumped on-board successful enactment of Ukraine. Projects of each genres and sizes are participating. For example, projects wrong the Konstellation ecosystem dedicated efforts to raising charitable donations to Ukraine, 1 of which is Squid Squad OG, the world’s archetypal Rock, Paper, Scissors blockchain-based play-to-earn game. Once the fundraiser concluded, Konstellation Network, a blockchain protocol, matched the donation. Through fundraisers held by its assorted products, the Konstellation Network donated a full of implicit $14,000 USD to Ukraine.

Though the fundraising circular has ended, SSOG NFTs tin inactive beryllium bought. In summation to representing the bully that cryptocurrency tin do, they enactment arsenic whitelist passes for the 2nd mint of Squid Squad OG’s fashionable play-to-earn game, SSOG – a unsocial rubric inspired by the deed Netflix peculiar Squid Games.

In SSOG, contestants vie for a monolithic prize excavation done precocious stakes, precocious rewards games of Rock Paper Scissors. Losers are eliminated, and winners get person and person to hitting the jackpot. The last victor wins it all, but lone if contestants don’t ballot to halt the games aboriginal and divided the prize excavation betwixt themselves.

About Konstellation

Konstellation is simply a decentralized cross-chain superior markets protocol built connected the Cosmos network. The task is aimed to efficiently link funds and the assorted components of the plus absorption industries with investors. Konstellation’s ngo is to go the fiscal services manufacture hub for Cosmos and different blockchain ecosystems utilizing strategical inter-operable blockchain communications.

The Konstellation web is powered by DARC tokens, which are required for the Konstellation network’s governance and transactions. Powered by features specified arsenic cross-chain infrastructure, a simplified interface, precocious composability, and effortless cross-chain DeFi usability, Konstellation is making headway successful achieving its vision.