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Romanian-German team develops cryptocurrency to support Ukraine
A team of Romanian and German developers created a cryptocurrency, LOVEUKRAINE, the purpose of which is to help Ukraine, according to a release sent on Friday.
A share of 4.8% of the total transactions with this cryptocurrency is redirected to an aid fund (a public crypto wallet).
LOVEUKRAINE was launched by the team of developers of Aether, a cryptocurrency that reached a maximum market capitalization of 3.8 million dollars. Presently, LOVEUKRAINE has a low market capitalization, of 100,000 dollars.
The team from Romania has conducted concrete actions at the Romanian border with Ukraine, offering aid, food, transport and anything necessary to Ukrainian refugees from the funds available. Furthermore, the LOVEUKRAINE team even traveled to Ukraine, offering food to people living near the border. All charitable actions of the team are broadcast live on Facebook.
"We invested in several cryptocurrency type projects trying to help Ukrainian refugees. All donated money in Bitcoin or through bank accounts. Unfortunately, many bank accounts were blocked, and transfers in Bitcoin couldn't be transformed into real money. This led to the interruption of aid offered to refugees. We put the bases of the LOVEUKRAINE project and decided to help exactly where it's needed. Real funds offered, on the spot, to real people. That is the only way we are sure that the funds of our community reach where they are needed," said Andrei Simion, project CEO.
On the other hand, for the refugees that travel to Germany, the members of the team from this country offers assistance in view of completing legal forms, ensuring employment and short-term accommodation.