TON Launches UAE Residency Program Boosting Toncoin 8%

The Open Network (TON) has launched a novel residency program in the United Arab Emirates (UAE), allowing applicants to secure a Golden Visa by staking cryptocurrency. This initiative bypasses traditional requirements such as purchasing real estate or meeting income thresholds. Applicants need to lock $100,000 worth of TON tokens for three years, along with a $35,000 processing fee. The entire process, managed through a decentralized smart contract, is expected to take less than seven weeks from document submission to visa issuance.

This program offers a unique pathway to UAE residency, traditionally accessible through significant real estate investments or long-term fixed deposits. By staking TON tokens, applicants can qualify for a 10-year Golden Visa, which extends to their spouse, children, and parents. The staked assets remain under the applicant's control throughout the lock-up period, and the process is publicly verifiable on the TON blockchain.

The announcement of this program has had a notable impact on the price of Toncoin. The token experienced an 8% price jump, with trading volume spiking by 254%. This surge reflects the market's positive response to the residency program, which aligns with the UAE's increasing adoption of blockchain technology and cryptocurrency.

Applicants can expect an annual yield of 3–4% on their staked TON tokens over the three-year period. This return is subject to the token's network economics during the lock-up period. The program's structure is designed to lock up a significant supply of TON, potentially removing around $100 million worth of the token from circulation if 1,000 participants join. This supply reduction, coupled with the program's annual yield, encourages long-term holding and stability in the token's value.

The TON Foundation's initiative represents a strategic move to attract a broader range of investors by offering a unique residency program that combines cryptocurrency staking with long-term residency benefits. This move is part of a broader trend of integrating blockchain technology with traditional financial and residency programs, reflecting the growing acceptance and adoption of digital assets in the global economy. The program not only provides a more accessible entry point into the UAE but also positions TON as a leading player in the blockchain and cryptocurrency space.