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Polkadot founder Gavin Wood donates $5.8m worth of DOT to Ukraine

Gavin Wood, the founder of the blockchain platform and cryptocurrency Polkadot (DOT), has just donated $5.8 million worth of DOT to Ukraine.

According to a DOT transaction the Polkadot founder just shared, the total donation is 298,367 DOT tokens.

Given DOT/USD is trading around $19.33, Wood’s donation stands at around $5.8 million.

Wood had this week promised to donate $5 million to the Ukrainian government if they posted a Polkadot address in addition to the Bitcoin (BTC), Ethereum (ETH) and Tether (USDT) addresses opened after last week’s Russian invasion of Ukraine.

Wood pledged $5 million if Ukraine added a DOT address

Earlier on Tuesday, 1 March 1, 2022, Ukraine announced that it was now accepting crypto donations in Polkadot.

In a tweet posted from the official government account, Ukraine authorities thanked the global community for the donations received so far. They released a DOT address and noted that they could accept donations in other cryptocurrencies too.

The people of Ukraine are grateful for the support and donations from the global crypto community as we protect our freedom. We are now accepting Polkadot donations too: $DOT: 1x8aa2N2Ar9SQweJv9vsuZn3WYDHu7gMQu1RePjZuBe33Hv. More cryptocurrencies to be accepted soon,” the tweet read.

Gavin Wood made his pledge via a reply to the Ukrainian government’s earlier plea for more donations. While he could have simply donated in BTC, ETH, or USDT, Wood’s request for a DOT address appears not to be such a bad move after all for the Ukrainian government.

The addition of the Polkadot cryptocurrency could open up the donation basket to more people, boosting the effort to support the battle against Russia and to offer humanitarian aid to a growing number of people.

The DOT address has just over $6 million at the time of writing, but the amount could grow quickly as witnessed with BTC and ETH over the past week.

The post Polkadot founder Gavin Wood donates $5.8m worth of DOT to Ukraine appeared first on Coin Journal.