AidForUkraine - $1.4M in $SOL donated by the Solana community to help Ukraine resist Russia

I already wrote an article about "How crypto companies help to stop horrible russian war against Ukraine". And now - one more incentive. Everstake is a well-known company in the crypto industry and I'm staking with them some of the cryptocurrencies in my portfolio: Cardano, Terra, Mina, Cosmos, Near, and Solana.

Aid for Ukraine - an initiative between the Government of Ukraine, Everstake (a Ukraine-based Web3 company), Solana (a public blockchain platform with smart contract functionality and whose native cryptocurrency is SOL) and the crypto community around the world, has already collected $1.4M in $SOL to date.

The Ministry of Digital Transformation of Ukraine, Sergey Vasylchuk, CEO at Everstake and Anatoly Yakovenko, Co-founder at Solana, are behind the Aid For Ukraine project to help Ukraine fight the oppression and cover shortages of military ammunition, food supplies, clothing, medicine, and more. Everstake alone has donated $375,000 in $SOL.

Sergey Vasylchuk, CEO at Everstake commented, “We’ve set up this DAO in partnership with some of these friends to raise funds in the wake of the war that’s overtaken our country. All funds collected through this effort will go directly towards aiding Ukrainians on the ground.

"We’re in close touch with all branches of the Ukrainian government and local NGOs. We will do our best to ensure funds raised get into the right hands, as quickly as possible. Aid for Ukraine is working closely with FTX to transfer digital assets into fiat currency. Funds will be deposited directly into a government account.”

“The situation on the ground is dynamic, and we’re continuing to evaluate the best way to get this money into where it’s most needed. We’ll post updates here as we distribute funds so you can keep up to date on our progress,” Vasylchuk added.

How are the funds being held, and who’s in charge of distribution?

Donations are being held in a multisig wallet ahead of distribution. Members of the multisig wallet include: two representatives from the Ukrainian Ministry of Digital Transformation, three representatives from Everstake, and one representative from Distributed Lab.