On July 6, Max Crown, CEO of Ton Foundation, announced at X a pioneering initiative offering Toncoin
Holders the chance to secure a 10-year-old outlook on a 10-year-old.
The program requires applicants to stab $ 100,000 worth of Toncoin for three years and pays a one -time treatment fee of $ 35,000. After the three -year locking period, stacked funds can apparently be unlocked, and in the race (Apy) On their stacked tokens.
Ton Foundation’s Website highlights several key alleged benefits: Quick approval within seven weeks of document filing, a simple process without the need to buy real estate or meet income limits and inclusion of family members – spouse, children and parents – at no extra cost beyond standard fees. The setting is executed through decentralized smart contracts on tonnes of blockchain, which it argues to ensure transparency and security.
The program claims to offer a capital-efficient alternative to traditional UAE-golden visa routes, which Ton Foundation says typically requires 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 proclaimed a faster, more affordable and digital native path to the UAE residence and adapts to the country’s ambition to become a global crypto and web3 hub.
The message had an immediate impact on Toncoin’s market performance. Shortly after the news bread, Toncoin’s price rose by 12%. At the time of writing, the token is about $ 2,8944, reflecting an increase of 5.36% over the last 24 hours. In addition, the current 24-hour average trading volume is approx. 251.54% higher than the 30-day average, signaling for increased market interest and activity, according to Coindesk Research’s technical analysis model.
Despite the enthusiasm, the message has created controversy within the crypto community. Bobby Ong, co -founder and COO for CoingeCko, praised the partnership as a “fantastic story” that could attract whales and provide strong purchase support to Toncoin, although he expressed hope that the initiative is not a temporary scheme.
Reverse “Joe Hedgedhog” (“@Joehedgedhog” on x)An investment partner in Sigil Fund, pointed out that this is not an official UAE government partnership, but rather a third-party law firm using tonnes as a power of attorney to help clients applying for the golden visa under the entrepreneurial category. He noted that the company could have used any cryptocurrency and that the stack requirement serves more as a token tool sink than a government mandate.
Further skepticism came from “Ivangbi” (“@ivangbi_” on x)The head of strategy and business development at Gearbox Protocol, which described the message as misleading. According to this perspective, the law firm receives the non-refundable fee of $ 35,000 and attempts to submit applications to the UAE government, which ultimately decides approval. He argued that the stacked ton -balance is only one of several requirements and may not be relevant to updated rules. He continued to say that the absence of carpet approval for tone stakers means that acceptance is uncertain and the program can primarily serve as a marketing tool combined with token tool.
Changpen zhao (alias “cz”)Co-founder and former CEO of Binance, expressed cautious support for tonal founder Pavel Durov, but emphasized the need to “trust but verify.” He noted that such a program would typically require an official government partnership and message that has not yet been confirmed.
The UAE entrepreneurial visa category that this program seems to target is designed for individuals who own financial projects of a technical or innovative nature. Applicants must give approval letters from an accredited UAE Auditor that confirms the value of the project (At least 500,000 AED)Local authorities that verify the project’s innovative nature, and an accredited UAE business incubator to establish the proposed activity in the country.
Technical analysis highlights
- Price rose from $ 2.75 to a highlight of $ 3.06, which represents a total range of $ 0.34 (12.4%).
- Rally suddenly began within 7:00 hours on July 6, when the volume spiked to almost 13 million.
- Extraordinary 57.5 million volume wave in 8:00 hours of progress tons to its high.
- That has formed support around $ 2.86- $ 2.89 with the purchase of high volume.
- Resistance appears at $ 3.03, suggesting that the token has established a new trading area.
- In the last 60 minutes from July 6, 15:12 to 16:11, Ton experienced a significant price increase of 2.4%.
- Dramatic outbreak occurred at. 15:48, when the volume was spiked to 1.68 million tokens.
- The token reached a highlight of $ 2.93 at. 15:50 before establishing a new support level around $ 2.90- $ 2.91.
Disclaimer: Parts of this article were generated with the help of AI tools and reviewed by our editorial team to ensure accuracy and compliance with Our standards. For more information, see Coindesk’s full AI policy.
