Telegram’s Open Network (TON) today announced an interesting initiative: a 10-year UAE Golden Visa to investors who stake $100,000 worth of Toncoin (TON) for three years. The program dramatically lowers the entry threshold for residency in the United Arab Emirates and is the first of its kind within the crypto space.

How the TON golden visa works

Under the new scheme, applicants must stake at least $100,000 in TON tokens for three years through a decentralized smart contract on the TON blockchain. The process is fully transparent and verifiable, ensuring that investors retain control of their funds throughout the lock-up period. It should be noted that, in addition to the staking requirement, there is a one-time government processing fee of $35,000.

Successful applicants and their immediate family members, including spouses, children, and parents, are granted a 10-year renewable UAE Golden Visa, allowing them to live, work, and invest in the country. The entire process can be completed in under seven weeks, which represents a significant improvement over traditional routes that often require at least $540,000 in illiquid assets and lengthier processing times.

Stakers also benefit financially: the program offers an estimated 3–4% annual yield on the staked TON during the three years, and all funds are fully unlocked at the end of the term, regardless of market conditions.

Community reactions and social buzz

The announcement generated significant excitement in the crypto community, which has increasingly been eyeing the UAE, and Dubai, in particular, as the up-and-coming crypto capital of the world. Ash Crypto tweeted:

“Breaking: TON has just partnered with UAE to offer 10 year golden visa to TON stakers. – Stake $100,000 $TON for 3 years – 10 years Dubai golden visa”

CEO of the TON Foundation, Max Crown enthused:

“Big News! Toncoin has just launched a groundbreaking initiative, offering TON holders the exclusive chance to secure a 10-year Golden Visa.”

Why Dubai? Crypto adoption and global appeal

Dubai and the UAE have rapidly become a global hub for digital assets, thanks to progressive regulation, tax incentives, and a thriving blockchain ecosystem. The country’s recent move to exempt crypto transactions from the 5% value-added tax, effective retroactively from January 2018, further cements its appeal for crypto entrepreneurs and investors.

The UAE’s regulatory clarity, driven by authorities like the Virtual Assets Regulatory Authority (VARA), and its proactive approach to innovation have attracted major crypto firms, including Binance, Crypto.com, and Bybit.

As CryptoSlate recently reported, Dubai’s combination of clear rules, government engagement, and high-profile blockchain events has made it a magnet for top crypto companies and talent from around the world.

A new era for residency by crypto

TON’s Golden Visa program is an ambitious move in crypto-to-real-world integration, lowering the financial barrier to long-term UAE residency and offering a transparent, blockchain-based process that opens the doors for a new class of global digital nomads and investors.

As the UAE continues to position itself as a leader in blockchain and digital assets, initiatives like this are likely to further accelerate crypto adoption.

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Synthetix founder Kain Warwick has issued a stern message to SNX stakers, urging them to adopt the protocol’s newly launched staking mechanism aimed at restoring the dollar peg of its stablecoin, sUSD.

In an April 21 post on X, Warwick made it clear that if voluntary participation fails, stronger measures may follow.

The sUSD 420 Pool, introduced on April 18, offers stakers a share of 5 million SNX tokens over a 12-month period if they lock their sUSD in the pool for a full year.

New Staking Mechanism Aims to Restore sUSD’s $1 Peg by Reducing Supply

The goal is to reduce circulating sUSD and help restore the token’s $1 peg.

However, Warwick admitted the mechanism is currently “very manual” and lacks a user-friendly interface—though one is in development.

Once the UI goes live, Warwick warned that if participation remains low, pressure on SNX stakers will increase.

“We tried nothing, which didn’t work. Now we’ve tried the carrot, and it kind of worked—but I’m reserving judgment,” he said. “I think we all know how much I like the stick.”

Synthetix’s sUSD is a crypto-collateralized stablecoin backed by locked SNX tokens, meaning its price stability depends heavily on the performance and market confidence in SNX.

Since the start of 2025, sUSD has faced repeated instability. On April 18, it fell to $0.68, a 31% drop from its intended $1 peg. As of April 21, it had recovered slightly to $0.77, according to CoinGecko.

Warwick noted that the solution lies with the community: “The collective net worth of SNX stakers is in the billions. The money to solve this is there—we just need to dial in the incentives.”

Synthetix’s latest changes stem from SIP-420, a proposal that shifts debt risk from individual stakers to the protocol itself.

Stablecoin Depegs Remain a Recurring Challenge

Depegs in the stablecoin space are not uncommon. USDC briefly lost its peg in March 2023 after Circle revealed $3.3 billion in reserves were stuck with the collapsed Silicon Valley Bank.

Similarly, TrueUSD (TUSD) dropped below $1 earlier this year amid a wave of redemptions.

Despite the challenges, the stablecoin sector has grown steadily, with total market capitalization surpassing $200 billion in 2025 and transaction volume hitting $27.6 trillion—exceeding the combined annual volume of Visa and Mastercard.

In March, Federal Reserve Chair Jerome Powell affirmed the central bank’s support for developing a regulatory framework around stablecoins during a Senate hearing.

Powell stated that the Federal Reserve supports the creation of a regulatory framework for stablecoins, noting the importance of protecting consumers and savers.

Earlier this month, the U.S. House Financial Services Committee approved the advancement of a stablecoin bill that seeks to establish clearer regulations for the sector.

Known as the Stablecoin Transparency and Accountability for a Better Ledger Economy Act, or the STABLE Act, the legislation passed out of committee on Wednesday with 32 votes in favor and 17 opposed.

The bill, introduced by Committee Chair Rep. French Hill (R-Ark.) and Rep. Bryan Steil (R-Wis.), seeks to establish a comprehensive framework for the issuance and oversight of dollar-pegged stablecoins.

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