What is SwissBorg?
The SwissBorg token, or CHSB, is the native utility token powering the SwissBorg ecosystem. It also grants Premium users voting rights by issuing RSB tokens, also known as the referendum token. This token is a key to SwissBorg referendums, where users vote on proposals.
CHSB is an ERC-20 token deployed on the Ethereum network. New SwissBorg tokens are mined utilizing the Proof-of-Stake (PoS) consensus mechanism via staking.
The native token has a variety of features and multiple use cases including:
- Yielding program based on yield tiers and the Community Index. The rewards are paid out from the SwissBorg’s treasury;
- Staking CHSB allows users to become Premium members of the network. This membership provides unique benefits such as a yield boost and lower fees when trading with CHSB, Bitcoin, and stablecoins. It’s important to note that users can become Premium members only after staking their tokens for an entire year;
- Protect and Choose mechanism that is similar to a buyback and burn model. The SwissBorg protocol takes 20% of all exchange fees and buys back CHSB. Most importantly, CHSB holders get to decide where those tokens will be put. The main reason for implementing this model is for maintaining the stability of the SwissBorg token;
- Access to SwissBorg referendums where CHSB holders vote on crucial decisions regarding the SwissBorg app. These types of referendums are hosted between 4-6 times every year.
In addition, the SwissBorg token comes with an integrated CHSB Buyback mechanism. To put it simply, SwissBorg will buy back a certain amount of CHSB tokens and distribute them across the entire SwissBorg project.
There is a total supply of 1 billion SwissBorg tokens. Since there is a limited token supply, it's possible that the CHSB price will grow as there will be fewer and fewer tokens in the circulating supply.
SwissBorg tokens have been distributed as follows:
- 38% - Community Sales;
- 20% - Core Team;
- 15% - Second round of funding;
- 14% - Experienced investors;
- 10% - Strategic investors.
CHSB can be acquired via major exchanges. Before making any purchase decisions, please make sure to do your research. You can start by checking out the SwissBorg price history and the current CHSB price on the graph above.
What are the Main Features of SwissBorg?
As discussed in the What is SwissBorg section, we’ve established that it’s a personal finance solution powered by blockchain technologies. SwissBorg provides Virtual Currency Exchange and Virtual Currency Wallets.
Besides the SwissBorg token, the project provides 2 more products - the SwissBorg Wealth app and the SwissBorg Community app.
The SwissBorg Community app was a decentralized crypto price prediction game. It had an integrated Bitcoin price history graph to allow successful predictions which, in turn, rewarded players with BTC. In early 2021, it was rebranded into the Crypto Challenge app. The app was shut down in April of 2022.
The rebranding of the SwissBorg Community app facilitated the rebranding of the SwissBorg Wealth app. The latter was renamed the SwissBorg app. It functions as a cryptocurrency investment platform on iOS and Android devices. The SwissBorg app allows users to buy, sell, and earn crypto. It aims to provide the best prices by connecting users with exchanges like Binance, Kraken, and HitBTC.
Moreover, the SwissBorg app comes with a Smart Engine, Asset Analysis, and Portfolio Analytics tools.
Users can find a unique real-time statistics page on the SwissBorg website called the CHSB Performance Metrics. It shows the staked amount of SwissBorg tokens, the current circulating supply, the number of SwissBorg Premium members, the weekly volume of the SwissBorg app, and so much more.
The SwissBorg crypto project has 4 core values - transparency, impartiality, and equality through Meritocracy.
One of their main goals is to facilitate smooth crypto investments without sacrificing security.
Who Developed SwissBorg?
The SwissBorg crypto project was founded by Anthony Leoismier and Cyrus Fazel who are taking the roles of CSO and CEO respectively. It was developed in Switzerland in 2016.
Anthony Leoismier successfully completed his finance studies at the Polytech Nice Sophia university. Prior to co-founding SwissBorg, Anthony had worked as the head of financial market digital advisory at JFD Brokers.
Cyrus Fazel graduated from the EDHEC Business School and earned his bachelor’s degree in International Business Management. Before the inception of SwissBorg, Cyrus worked as a hedge fund advisor at Aramis Capital and SEQUOIA.
The SwissBorg team consists of professionals with diverse backgrounds from all over the world.
The project has conducted pre-ICO and ICO events. It distributed the raised funds towards the investment division, legal division, technology development, marketing, running costs, and operations.
SwissBorg has partnered up with major exchanges such as Uniswap, KuCoin, Livecoin, and IDEX.
