The Open Network Partners with UAE for Golden Visa

The Open Network (TON) has joined forces with the UAE to provide a 10-year Golden Visa for those who stake $100,000 in TON for three years.

This groundbreaking initiative facilitates a lower-cost residency option and has already spurred a 10% price surge in TON, highlighting increased investor interest.

TON’s $100,000 Staking Requirement for UAE Residency

The The Open Network collaborates with the UAE, introducing a Golden Visa program. Stakers must lock in $100,000 worth of TON for three years through a smart contract.

The agreement marks TON’s entry into significant government collaborations. With a one-time $35,000 fee, the initiative significantly cuts traditional residency cost barriers. “This partnership with TON represents a groundbreaking approach to residency issuance, leveraging blockchain technology to attract global talent,” said a UAE Government spokesperson. Source

Market Reacts with 10% Surge in TON Value

This partnership has attracted interest from high net-worth individuals globally. Following the announcement, TON’s market value surged 10%, reflecting increased investor participation.

Industry reactions suggest a potential shift in how residency is granted, with crypto assets playing a more significant role in government partnerships. TON Foundation’s official announcement emphasizes setting a new standard for investment and residency.

Innovative Residency via Crypto Staking, a First in Blockchain

Unlike prior residency initiatives that relied on real estate, TON provides direct residency through staking, a first for any notable cryptocurrency protocol.

Bobby Ong of CoinGecko notes the program’s competitive advantage. The lower cost of entry is expected to attract significant interest from global investors. He stated, “The entry is 5x lower than an equivalent real estate / FD investment and will certainly get the attention of whales to take a look at TON and consider this as an option.” Source