The Kraken exchange has announced that it is giving away more than $10 million to Ukrainian users in aid amid the Russian invasion.
Kraken will distribute over $10 million worth of to aid clients in 🇺🇦Ukraine. Tranche 1 recipients will be credited $1000 of #BTC, withdrawable tomorrow. The package is funded by historical Ukraine revenues and H1 2022 revenues from Russia-based trading.https://t.co/DdkY2TsVoB
— Kraken Exchange (@krakenfx) March 9, 2022
Distribution will be organized in several stages. The date of the first airdrop is March 10th. Clients from Ukraine will be able to receive $1,000 in bitcoin and a similar amount in the form of commission discounts.
Conditions for receiving the first tranche:
- an account created before March 9, 2022;
- verification level Intermediate or Pro;
- the presence at any time of a non-zero balance in the account.
You can withdraw funds immediately after accrual, the exchange team emphasized.
During the second phase, Ukrainian users will receive a share of the amount of commissions paid by customers from the Russian Federation for the first quarter of 2022. Distribution date is April 1st. Anyone who did not receive funds from the first tranche will be able to participate.
The third stage is the distribution of the commission of Russian users for the second quarter.
At the 2nd and 3rd stages, the requirements for participants are similar to the first stage of the airdrop, but there is no need for the movement of funds.
“Cryptocurrencies remain an important humanitarian tool, especially at a time when many in the world can no longer rely on traditional banks and custodians,” said Kraken CEO Jess Powell.
The Kraken exchange team reports that the declared share amount approximates the amount of commissions received by the exchange from Ukrainian clients since 2013.