Toncoin (TON), the prime asset of The Open Network, experienced substantial growth owing to the unveiling of a “Golden Visa” initiative in the United Arab Emirates (UAE). This enticing program invites investors to secure permanent residency by allocating $100,000 to TON over a span of three years. Following this announcement, TON’s value leaped from beneath $2.75 to $3.08, marking a significant 12% ascent and creating the most notable hourly surge observed in recent weeks.
What Does the Golden Visa Offer?
The novel program requires investors to maintain their crypto holdings in a specified wallet, locked for a three-year duration using a smart contract mechanism. This ensures autonomy over the assets without third-party intercession, while offering investors an annual return of 3% to 4%.
This visa is inclusive of the applicant’s immediate family, including spouse, children, and parents, with the UAE application fee remaining at a standard $35,000. Underpinned by the decentralized framework of the TON Blockchain, the entire procedure is transparent and fully automated.
How Does Collaboration Elevate TON Coin?
In the wake of this initiative, trading volumes surged, propelling TON’s price to approach significant resistance levels. Experts highlight that collaboration with Telegram’s vast user community grants the program an initial edge, facilitating its adoption and growth.
The application timeline, anticipated to conclude in about seven weeks, may position the UAE as the swiftest avenue for integrating cryptocurrency into immigration processes, possibly inspiring similar initiatives globally.
Industry leaders assert this development magnifies the concept of self-sovereign digital identities, projecting that it’s likely to incite a lasting demand boost within the TON ecosystem.
- TON surged by 12% after the Golden Visa announcement.
- Application process promises full transparency via decentralized contracts.
- The UAE could lead in crypto-based immigration solutions with accelerated procedures.
- Collaboration with Telegram enhances the program’s uptake potential.
With such a promising start, Toncoin’s trajectory suggests potential for further accomplishments. Observers are eager to see how other countries might react and whether they propose comparable opportunities to attract crypto investments. The unfolding competition could yield innovations that reshape the landscape of crypto-backed residencies.
