UkrainianPool, a not-for-profit crypto initiative to provide funds to Ukraine, has launched the world’s first not-for-profit Initial Stake Pool (NASDAQ:) Offering (ISPO) crypto fundraising project.

This unique initiative does not require participants to give assets directly to raise funds. Instead, they ‘stake’ their funds which generate rewards on the blockchain which are then transferred to a wallet owned by the Ukrainian Government. In layman’s terms, this means that participants temporarily allow their crypto assets to be frozen which essentially generates high interest yields of 5%. The more funds are staked in the pool – the more funds can be raised for Ukrainians in need. Participants can at any moment unfreeze assets. It’s the first time that an ISPO was used this way.

UkrainianPool was created by Ugnius Šeškas and Karolis Gogaitis, Principal Partners of Beckton Group, Laura K. Inamedinova, Founder & CEO of LKI Consulting, and Paulius Vaitkevičius, Founder & CEO of VILP Solutions. MELD and CRYPTO A.M. are the backing organizations. This project received support from both the Ukrainian and Lithuanian Governments.

UkrainianPool hopes people will join the ISPO and help the organization reach its initial goal of $10 Million in humanitarian aid funding.

Laura K. Inamedinova, Initiative Creator of the project, said: “We know that so many people want to help Ukraine but because of the difficulties of the past few years they may not have the ability to donate much. The ISPO enables them to make a real difference – donations do not cost them anything and could potentially generate much more money than a direct transfer.

Our entire team and advisors have come together from across the world to freely donate their time and expertise to launch this project because we believe we can make a difference to the people in Ukraine.”

UkrainianPool is an open-source protocol that will allow contributors to track what happens with their funds. It will improve transparency and openness. This project is supported by the Ministry of Digital Transformation of Ukraine. It plans to distribute the accrued rewards every five days after the completion of the 14-day maturity period.

“Crypto proved to be a real life saver due to its ease of use. The unity of the crypto community is unprecedented, while still standing by Ukraine. It’s a significantly important trend: Ukraine’s support is constantly growing. No wonder, both Ukraine and crypto serve the principles of freedom and democracy and get used to fighting for their rights,” said Oleksandr Bornyakov, the Deputy Minister of Digital Transformation of Ukraine on IT industry development.

The project currently runs on the ecosystem and uses the blockchain’s embedded features to validate transactions through the stake pools and issue rewards for each validated transaction in the form of financial support for Ukraine. Anyone can join the project by placing their cryptocurrency directly into the Yoroi or Daedalus wallets. These funds can be pulled out at any moment and are tied to specific stake pools.

“The format of the ISPO fundraising is not new to the industry but its scope was always limited to commercial projects. The tragic events that transpired in Ukraine made us take action and develop a fast and trustworthy way to support Ukrainian people in the decentralized space,” explained Ugnius Šeškas, Initiative Creator of UkrainianPool.

UkrainianPool has enlisted the support of a variety of Independent Contributors and Advisors representing 8 different countries. They have assembled a 25+ professional team in Marketing, Cybersecurity, Law, PR/Communications and Law to propel their project forward. MELD and CRYPTO A.M are some of the notable supporters.

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