SwissBorg is an investment platform based on blockchain technology with headquarters in Lausanne, Switzerland. It is fueled by a native utility token CHSB. It was established in 2017 with the purpose to make wealth management decentralized and accessible to everyone giving the opportunity to invest in cryptocurrencies in a fair, safe, and easy manner. The company holds licenses for providing Virtual Currency Exchange and Virtual Currency Wallets internationally. SwissBorg pays a lot of attention to the security of its community protecting users’ data and preventing fraudsters’ attempts performing Know Your Customer (KYC) checks.
To give members of the CHSB ecosystem a clear picture of what is happening on the platform in real-time, the CHSB Metrics and Performance overview page was added on its website. Users can see the information concerning the total amount of staked CHSB, circulating supply, and the amount of burned coins on it. SwissBorg has created three products: Wealth App, Community App, and CHSB Token.
The Wealth App is SwissBorg’s main product, which enables users to deposit in fiat and crypto, to buy and sell crypto in a single account connected to multiple exchanges using 15 fiat currencies, including EUR, CHF, and GBP. The application is available in 100+ countries and provides 12 token listings with BTC and ETH being the most popular ones. Users choose the next token to be listed in the Wealth App by voting.
The benefits offered by WealthApp to its users include securing funds with MPC technology, a smart engine that gathers data from leading exchanges, and artificial intelligence-powered market analysis. A single account connects the application members with such exchanges as Binance, Kraken, Lmax, and HitBTC to offer the best price possible.
Token developers can apply to list their coins in the mobile application as well. Wealth App is available on both Android and iOS platforms.
SwissBorg Community app
SwissBorg Community app is a free game dealing with Bitcoin price predictions and educational mission. The application suggests daily Bitcoin analysis to help investors make predictions and earn BTC as a reward without taking any risks. It is available for both iOS and Android devices and comes with an interactive graph showing Bitcoin price history. Each successful prediction brings you points, which raise your rank and increase the chances to win a share of up to 500,000 USD. The mobile version is called ‘SwissBorg - Bitcoin Price Prediction Game App’.
SwissBorg token and its functions
To become a part of the community and enjoy membership advantages, users need to purchase CHSB tokens with the price set in CHF (Swiss francs) as it is considered to be the most stable currency in the world.
CHSB, a SwissBorg native token, is a utility ERC-20 token that supports the ecosystem performing a variety of functions. These are protection and burning, staking, voting, rewarding, and providing exclusive access.
Users can benefit from a decrease in token supply through the ‘Protect and Burn’ mechanism when 20% of the revenues from transaction fees on the Wealth App are dedicated to protecting the price of the CHSB token. If the price tends to go down, SwissBorg automatically places orders to buy-back and burn CHSB ensuring that long-term CHSB holders are rewarded for holding the token. This helps the project get rid of short-term price speculators.
Staking CHSB within the Wealth App for 1 year allows users to get a Premium account and exchange assets at competitive prices with zero fees. The CHSB token gives its holders voting rights to decide on the future platform developments and changes during referendums. Also, CHSB token holders get priority access to all future products launched by SwissBorg.
The maximum CHSB token supply is fixed at 1 billion coins. Unsold tokens are kept for rewards and further developments. Funds collected during the ICO and pre-ICO were distributed in the following way: 21.15% was given to the investment division, 17.70% was spent on legal and compliance while 24.4% was spent on technology development, 14.65% - on marketing, 7.5% - on running costs, 10.5% on operational costs. The rest of the funds was left for meritocracy.
The token is compliant with any ERC-20 cryptocurrency wallet.
Proof of Meritocracy and the RSB token
SwissBorg is using a new type of open protocol utility, the proof of meritocracy (PoM), to power the CHSB token and revolutionize the wealth management industry. All CHSB token holders get the option to participate in the development of the SwissBorg network through the concept of PoM. The CHSB token offers rewards during referendums on technical improvements over the Swissborg platform. The CHSB token is used to generate a referendum token, called the “RSB token”. The participants use the RSB token to vote on the referendum proposals. The voting power depends on the amount of CHSB tokens users hold at the time of the referendum, and it does not cost any CHSB tokens to vote. A referendum is organized four to six times per year.
SwissBorg team and partners
SwissBorg has an international team, which consists of over 70 highly experienced professionals specializing in digital investment management, machine learning, cryptocurrency, blockchain, finance, and technology.
Cyrus Fazel, the SwissBorg founder and CEO, is a fintech professional with more than a decade of experience in asset management and algorithmic trading. Anthony Lesoismier-Geniaux, an entrepreneur and tech enthusiast, is the CSO and co-founder at SwissBorg. Nicolas Remond, the Chief Technology Officer, and Jeremy Baumann, the Chief Financial Officer, are technology and blockchain devotees.
SwissBorg was financed by Dennis Liu alone and has one board member or advisor, Miko Matsumura. SwissBorg has partnered with Onfido, a digital verification solution, to securely verify applicant identities for its wealth management platform, providing a seamless customer onboarding experience. Among other SwissBorg partners are such exchanges as HitBTC, Livecoin, Uniswap, KuCoin, YoBit, and Idex, on which the CHSB token is traded.