{"id":235684,"date":"2021-04-26T15:39:44","date_gmt":"2021-04-26T12:39:44","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/ethereum-creator-donates-100-ether-and-maker-to-indian-covid-19-relief\/"},"modified":"2021-04-26T15:39:44","modified_gmt":"2021-04-26T12:39:44","slug":"ethereum-creator-donates-100-ether-and-maker-to-indian-covid-19-relief","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/ethereum-creator-donates-100-ether-and-maker-to-indian-covid-19-relief\/","title":{"rendered":"# Ethereum creator donates 100 Ether and Maker to Indian COVID-19 relief"},"content":{"rendered":"

“# Ethereum creator donates 100 Ether and Maker to Indian COVID-19 relief <\/strong>”
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Ethereum creator Vitalik Buterin has contributed 100 Ether (ETH) and 100 Maker (MKR) tokens to a COVID-19 relief fund, as the country finds itself embroiled in the virus\u2019 second wave. Buterin contributed to a “crypto-COVID” relief fund set up on the cryptocurrency custodian platform, Gnosis Safe. <\/p>\n

Public transactions on the Ethereum blockchain show two transactions coming from one of Buterin\u2019s wallets on April 24. The Ethereum creator sent 100 ETH<\/a> and 100 MKR<\/a> to the relief fund, representing dollar values of $220,000 and $400,000 respectively. <\/p>\n

The donation drive was set up by Polygon (MATIC) co-founder Sandeep Nailwal. On April 24, Nailwal\u2019s Twitter<\/a> feed exploded after he sent out a rallying cry to help the COVID-19 situation in India. The Polygon co-founder tweeted<\/a>:<\/p>\n

\u201cCan’t take this sitting down anymore, I am going to run a Covid relief campaign in lieu of what\u2019s going on in India. Need help from the Global crypto community. I will take full responsibility for transparency, funds usage and regulatory compliance If you want to donate\u2026\u201d<\/p>\n

Nailwal then set up a Google form<\/a> for would-be donors, and asked for help from some of India\u2019s biggest cryptocurrency exchanges and institutions such as WazirX, CoinDCX and Bitbns. He tweeted<\/a>:<\/p>\n

\u201cWill need help from players like @WazirXIndia<\/a>, @CoinDCX<\/a>, @bitbns<\/a> to help convert the donations into fiat and be able to donate to ground people.\u201d<\/p>\n

Concerns were raised when Nailwal revealed he\u2019d found resistance from people who wanted to donate but were worried about regulatory friction. Nailwal later revealed he\u2019d received support from one of India\u2019s top chartered accountants, who had agreed to take care of the regulations and audits for the campaign. <\/p>\n

\u201cArguably India’s top CA in Crypto @Vacpad<\/a> has agreed to lead the regulatory and audit part for this campaign Support is pouring in from everywhere. Indian Crypto founders are personally reaching out to help. Next step is to deploy the funds on the group. Ppl need help RIGHT NOW,\u201d tweeted<\/a> Nailwal.<\/p>\n

The second wave of COVID-19 in India is expected to peak<\/a> in the third week of May. The Indian government recently removed all customs duty from essential relief materials, particularly items related to the storage and deployment of medical grade oxygen.<\/p>\n