The Open Network (TON) has launched a program in the United Arab Emirates, offering a 10-year Golden Visa to those who qualify. To participate, applicants must stake $100,000 in Toncoin (TON) for a period of three years, in addition to a $35,000 processing fee. The program extends to immediate family members.
Following the announcement, the price of Toncoin experienced a surge, increasing by over 10% and reaching approximately $3.02. Participants in the staking program can anticipate annual yields ranging from 3% to 4%. The program is managed by private partners based in the UAE.
The visa approval process is estimated to take approximately seven weeks from the date of document submission. This initiative is in line with the UAE's objective to establish itself as a global center for blockchain innovation. However, it's important to note that the program does not have official endorsement from the UAE government.