SwissBorg provides users with tools (Wealth App, Smart Yield, $CHSB token, etc.) and the infrastructure (wider support from community, regulatory clarity etc.) to manage their cryptocurrency investments with negligible effort. Swissborg’s aim for doing this is to help users navigate the relatively new field of cryptocurrency which at times can have complex concepts and rather scattered infrastructure with little standardisation. In this article, we will take a deep look at SwissBorg: its merits, the problems it attempts to solve, and everything in between.
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Launched in December 2017 after having raised over USD $52 million, SwissBorg was founded by Anthony Lesoismer and Cyrus Fazel. Based in Switzerland and fully compliant with Swiss Law, the project has a multicultural team that comprises members from 200 countries consisting of highly experienced professionals having experience in major banks and investment management firms.
What Is SwissBorg?
SwissBorg is the first blockchain-based secure wealth management platform, aimed at simplifying the process of crypto investments, integrating with major digital asset exchanges and featuring community-based ownership. They also have a mobile version called “Wealth App” which is available for both iOS and Android platforms (see below).
The top achievements of the project, so far, have included its successful fund-raising of USD $53 million, large community, blockchain referendums, gamified Bitcoin prediction app, and a high-performing native token.
SwissBorg is available in over 100 countries (however it is currently not supported in the US) with many more to come. Although for some countries, the full range of features offered by SwissBorg may not be available. See here for a full list of supported countries.
SwissBorg supports over 30 cryptocurrencies including BTC, ETH, CHSB, USDC, PAXG, ENJ, BNB, LTC, XRP and BCH. They also have ongoing votes on which other cryptocurrencies should also be listed.
SwissBorg also supports 16 fiat currencies including EUR, USD, GBP, CAD, HKD, and SGD. Check here for a full list of SwissBorg’s supported assets.
SwissBorg Network Token ($CHSB)
The platform’s multi-utility token is SwissBorg ($CHSB), which is an Ethereum-based and ERC-20 compliant token. It has a circulating supply of 715 million out of a total of 1 billion.
The rest of the held supply is reserved for the development and promotion of the project. The CHSB token is traded on major exchanges like KuCoin, Uniswap (v2), Yobit, HitBTC, IDEX etc. and has multiple use cases.
CHSB token powers the entire SwissBorg ecosystem. It is used for staking for platform’s fee discount and grants voting rights on the platform.
Furthermore, it is also used for reward distribution through the “Proof of Meritocracy” concept as well as the team’s “Protect and Burn” policy. The purpose of the policy is to increase scarcity and enhance the value of existing tokens through burning the supply from generated revenue.
Proof of Meritocracy
SwissBorg token holders can participate in choosing the progress and development of the network through the Proof of Meritocracy policy. The CHSB token generates an RSB token, which is a referendum token for users to vote on referendum proposals. Users holding more CHSB will have more voting power. Users will also be rewarded for participating in these referendums in addition to being able to dictate the direction of SwissBorg’s development.
Protect and Burn
The Protect and Burn policy rewards long-term CHSB holders by ordering buyback and burn only when CHSB prices are going down. This is because the traditional buyback mechanisms whereby buybacks are announced in advance, short term speculators could buy the token before the buyback and sell it for a higher price shortly after the buyback when the token supply is lowered. According to SwissBorg, this traditional mechanism does not protect the token and in particular long term token holders, and is contrary to their mission to promote innovation that rewards their loyal community members.
Every month, SwissBorg will also add 20% of their profits generated from the fees on the Wealth App to a reserve so as to protect the price of the CHSB token. If the price of CHSB arrives as a bearish-zone (using the 20-day moving average as their indicator), SwissBorg will automatically place buy orders for CHSB.
The SwissBorg DAO (Decentralized Autonomous Organization) is the supporting body assisting with the governance of the SwissBorg ecosystem. A DAO is a development in the cryptocurrency and DLT space, which permits a democratic mechanism to run or manage a project on-chain.
The SwissBorg DAO acts as a unifying bridge between the team and community members, allowing the latter to play an active role in determining the direction of the project and be rewarded for their efforts in CHSB tokens.
The team has defined different roles for community members to participate as. Here are some of these roles:
A digital artist (more understandably a content creator) is a community member, tasked by the team, to develop arts, pictures, texts, presentations and videos etc. about the SwissBorg project.
A translator is an important member of the community, responsible for translating important documents or articles, related to the SwissBorg project. SwissBorg DAO leverages the power of incentivized multi-cultural participants to get one of the most difficult yet important jobs done.
A promoter is responsible for spreading the word about the project on various social media platforms. They play an important role in increasing adoption and usage by promoting the project. Thus, also directly enhancing the value of the token.
A moderator (better understood as an admin on forums and telegram groups) is responsible for regulating the communication on the SwissBorg’s project channels. The various duties include promoting a healthy discussion, removing inappropriate content, modulating the flow of discussion and enforcing group rules.
A campaigner (a real-world promoter) is responsible for networking with different people and organizing events, to better promote the project. They may hold group meetings, AMA’s, city meets, etc., to promote development and cohesion of the SwissBorg community.
A business introducer (commonly understood as an ambassador) is a SwissBorg community member, who strives to arrange in-person meetings of the SwissBorg team with prominent influencers, investors, business partners etc.
A cyber virtuoso (known as a developer) is responsible for developing tools, scripts, softwares etc. to help develop the SwissBorg ecosystem. They may also be tasked with creating step-by-step tutorials and supporting documents for the project.
SwissBorg Wealth App
The Wealth App is the principal and smart command-and-control centre of SwissBorg. It allows users to build, monitor, and manage their crypto portfolios, permitting easy and secure wealth management.
The dashboard is simple but powerful and intuitive, taking the guesswork out of cryptocurrency investing.
The users can fund their accounts with USD, EUR, GBP, and CHZ. The withdrawals can be made to the local bank of the user’s choosing. Furthermore, a limited number of crypto-assets are supported, in a similar manner to Coinbase, ensuring quality.
However, new assets are regularly added, if they fit the inclusion criteria. The app is available on both IOS and Android operating systems.
The smart engine offers users the opportunity to buy crypto-assets at the best rates and lowest slippage, from multiple exchanges. Furthermore, it is AI-powered, offering valuable insights about the investments (history, performance, deposits, withdrawals, etc.), which assists the user in making informed decisions.
All of these features allow people to employ sophisticated techniques for portfolio management with relative ease.
SwissBorg Smart Yield
SwissBorg’s Smart Yield is a feature on its app which allows users to potentially earn passive income through Decentralized Finance (DeFi) and Centralized Finance (CeFi) platforms without much pre-requisite knowledge. The Smart Yield feature works with top platforms such as Compound, Curve Finance, Binance, Aave, and Uniswap.
SwissBorg’s CHSB Yield 2.0
SwissBorg’s latest CHSB Yield 2.0 program aims to be a community-centered and sustainable approach to promote the growth of the SwissBorg ecosystem. It has various yield tiers which according to the Team will provide attractive returns for CHSB token holders. Holding more CHSB in the yield program affects your returns. Currently, the lowest tier of holding 0-2k CHSB in their Standard Account generates a maximum of 12.58% yield. Those with the Genesis Premium account type can earn up to 25.17% yield.
The difference between SwissBorg’s CHSB Yield 2.0 and their Smart Yield program is that Yield 2.0 is paid out of SwissBorg’s own treasury- i.e. an internal transfer. This means that there is no risk of DeFi hacks or impermanent loss (Learn what is Impermenant Loss in our video here). Also, with the reward structure of Yield 2.0, smaller holders benefit from accelerated growth whilst at the same time, larger CHSB token holders are rewarded in the long term.
SwissBorg ran one of the most successful fundraises back in 2017 and has delivered a powerful product. SwissBorg solves the major problem of managing wealth and making cryptocurrency investments accessible to everyone.
The Wealth App offers a one-stop solution for crypto investments, combining deposit, buying, trading, management and withdrawal facilities, all under a clean and minimal interface.
Moreover, SwissBorg is fully compliant with all relevant regulatory frameworks, which ensures that users can invest and take part in the digital assets field while being certain about the legality.
The community-based democratic outlook of the team ensures that all members can take part in the evolving ecosystem. The product is currently available in more than 60 countries and with more to come, making it truly global.
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