On July 6, Max Crown, CEO of the TON Foundation, announced on X a “groundbreaking initiative” offering toncoin (TON) holders the “exclusive chance” to secure a 10-year UAE Golden Visa.
The program requires applicants to stake $100,000 worth of toncoin for three years and pay a one-time processing fee of $35,000. After the three-year lock-up period, staked funds can apparently be unlocked, and during this time, applicants reportedly earn an estimated 3-4% annual percentage yield (APY) on their staked tokens.
The TON Foundation’s website highlights several key alleged benefits: fast approval within seven weeks from document submission, a simple process without the need to purchase real estate or meet income thresholds, and inclusion of family members — spouse, children, and parents — at no extra cost beyond standard government fees. The staking is conducted through decentralized smart contracts on the TON blockchain, which it argues ensures transparency and security.
The program claims to offer a capital-efficient alternative to traditional UAE Golden Visa routes, which the TON Foundation says typically require a minimum investment of approximately $540,000 in real estate or fixed deposits, often tied to illiquid assets and longer processing times. The TON Golden Visa initiative is touted as a faster, more affordable, and digitally native pathway to UAE residency, aligning with the country’s ambition to become a global crypto and Web3 hub.
The announcement had an immediate impact on toncoin’s market performance. Shortly after the news broke, toncoin’s price surged by 12%. At the time of writing, the token trades around $2.8944, reflecting a 5.36% increase over the past 24 hours. Additionally, the current 24-hour average trading volume is approximately 251.54% higher than the 30-day average, signaling heightened market interest and activity, according to CoinDesk Research’s technical analysis model.
Despite the enthusiasm, the announcement has generated controversy within the crypto community. Bobby Ong, co-founder and COO of CoinGecko, praised the partnership as an “amazing story” that could attract whales and provide strong buy support for toncoin, although he expressed hope that the initiative is not a temporary scheme.
Conversely, “Joe HedgedHog” (“@JoeHedgedHog” on X), an investment partner at Sigil Fund, pointed out that this is not an official UAE government partnership but rather a third-party legal firm using TON as a proxy to assist clients applying for the Golden Visa under the entrepreneur category. He noted that the firm could have used any cryptocurrency and that the staking requirement serves more as a token utility sink than a government mandate.
