Toncoin Reaches 19-Day Peak After Announcement of UAE Visa for Investment of $100,000 in Staked TONcoins
In a groundbreaking move, Toncoin, a blockchain project associated with Telegram, has partnered with the United Arab Emirates (UAE) to launch a unique Golden Visa program. This initiative allows investors to obtain a 10-year UAE residency by staking Toncoin (TON) tokens, offering a more accessible and cost-effective route compared to traditional programs.
## Requirements and Costs
To participate in the program, investors must stake a minimum of $100,000 worth of TON tokens for a minimum of three years. The staking process is conducted through a decentralized smart contract on the TON blockchain. There is a one-time processing fee of $35,000, and the staked TON remains the user's property and will be available after the three-year period ends.
## Benefits and Process
Successful applicants receive a 10-year UAE Golden Visa, with the benefits extending to the applicant's spouse, children, and parents, subject to standard government fees. The visa application process is quicker than the traditional route, taking up to seven weeks, compared to six months.
Participants can expect an annualized return of 3% to 4% during the staking period, although this rate may vary based on the price of the TON token. The UAE's visa issuing partner will guide users through the final steps of the process. It's important to note that obtaining the TON-based golden visa does not require the purchase of real estate or meeting income thresholds.
## Significance and Market Impact
This program is the UAE's first blockchain-native residency initiative, marking a significant integration of blockchain technology into residency solutions. The announcement has had a positive impact on Toncoin's market performance, with the cryptocurrency experiencing a surge following the news. The program is expected to raise demand for Toncoin among global investors, as it provides a novel pathway to residency that leverages blockchain technology for greater efficiency and transparency.
The TON-based golden visa process is significantly less expensive and time-consuming than a traditional golden visa, which could take up to six months and cost over $500,000. After the news trended, TON's price surged by double digits and reached a 19-day peak of over $3 before correcting slightly to $2.93 as of press time. The staking of TON leads to a sudden price pump and hitting a multi-week peak. The staked TON can be found and verified on the TON blockchain.
In conclusion, the Toncoin-UAE Golden Visa program offers a unique and efficient solution for those seeking residency in the UAE, leveraging blockchain technology for a faster, cheaper, and more accessible process.
- Investors can enjoy a return of 3% to 4% annually while staking Toncoin (TON) tokens as part of the UAE's unique Golden Visa program, which utilizes blockchain technology for a more accessible and cost-effective route to residence.
- Participants in the Toncoin-UAE Golden Visa program, who have staked TON tokens, can expect a sudden price pump and hitting a multi-week peak, making this crypto investment both financially beneficial and strategically significant.
- The Toncoin-UAE Golden Visa program is intended to encourage global crypto investors, as it merges finance, technology, and investing, offering an opportunity to tap into blockchain-native residency solutions and reap the benefits of affordable, efficient, and transparent transactions.
