The Toncoin team has announced a new offer related to obtaining a golden visa in the UAE for participants willing to stake tokens valued at $100,000 for at least three years.
Details of the New Offer
According to the announcement, the tokens worth $100,000 staked for three years will remain 'fully yours' and accessible after this period. The team offers an estimated annual percentage yield (APY) of 3-4%. The whole process will be carried out through a decentralized smart contract, fully verifiable on the TON blockchain.
Market Reaction
Following the news, the price of Toncoin surged significantly, hitting a multi-week peak. The asset experienced a double-digit increase, reaching a 19-day high of over $3 before slightly correcting to $2.93 at the time of publication.
Advantages and Conditions
The visa application process is expected to take up to seven weeks, and future UAE residents will not need to purchase real estate or meet income thresholds. Moreover, the visa will cover their spouse, children, and parents at no extra cost (only the standard government fee applies). According to the developers, staking TON will be significantly less costly and time-consuming than acquiring a traditional golden visa, which can take up to six months and cost over $500,000.
In conclusion, the new offer from Toncoin could represent an attractive option for those looking to acquire a visa in the UAE with minimal effort and costs.
