- Toncoin and UAE collaborate on crypto residency program.
- Requires $100,000 stake for residency.
- 10-year visa offered to TON stakers.
The Toncoin Foundation has announced its latest initiative, partnering with the UAE to offer 10-year golden visas to TON stakers. This program underscores a collaboration between the two, with applicants needing to stake $100,000 in TON tokens for a period of three years. The staked amount is confirmed to remain non-withdrawable during this tenure.
Staking Details and Government Fees
Participants of the residency program must also pay a one-time $35,000 government fee. During the staking period, they are anticipated to receive an annual yield of around 3-4% APY. This collaborative venture marks the first official use of crypto staking tied to government residency, offering a lower threshold compared to traditional golden visa programs which rely on real estate investments.
“This new initiative is designed to open doors to real-world opportunities through crypto. By staking $100,000 in $TON for three years, applicants gain access to long-term UAE residency—a major step in bridging crypto and traditional investment pathways.” – Official Announcement, Ton Foundation
The introduction of this residency program could create positive pressure on the Toncoin ecosystem. The anticipated increased demand for long-term staking could potentially affect the market dynamics positively. Despite the innovative nature of the collaboration, regulatory responses outside the UAE remain unaddressed. As this unfolds, the market and industry will keenly monitor its progression, with analysts noting the potential impacts on Toncoin’s profile and adoption.
Long-term implications could reveal if blockchain initiatives can anchor traditional societal structures like residency. As of now, community sentiment remains optimistic, with discussions in official Telegram and Discord channels largely positive. The Toncoin Foundation has cautioned against phishing scams, recommending to only use the official ton.org portal for applications.
Follow TradingView for Market Insights and Updates to keep a close eye on market trends and updates concerning the Toncoin developments.
| Disclaimer: The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions. |
