What is SwissBorg (BORG)? What it is and how does it work?

SwissBorg is an innovative digital asset management platform transforming investment practices. By integrating blockchain technology with artificial intelligence, it offers users a safe, transparent, and efficient investing experience.

Let’s dive into whether SwissBorg is truly reliable and, while also exploring its standout features with AZCoin.

What is SwissBorg?

Launched in December 2017 after raising over $52 million, SwissBorg was founded by Anthony Lesoismer and Cyrus Fazel. Based in Switzerland, the project features a multicultural team comprising members from 200 countries, including seasoned professionals from major banks and investment management firms.

SwissBorg is the first secure asset management platform based on blockchain, designed to streamline the cryptocurrency investment process, integrating with major digital asset exchanges and offering community-driven ownership. They also provide a mobile version called “Wealth App,” which is available on both iOS and Android platforms.

As of early 2021, the project’s key achievements include a successful fundraising effort of $53 million, the establishment of a large community, the increased usage of Bitcoin prediction apps for betting, and the high performance of their native token (CHSB).

SwissBorg Development Team

SwissBorg calls itself “a group of finance and technology experts dedicated to improving the cryptocurrency industry by making it fun, fair and meaningful for everyone.”

While the SwissBorg website only lists the top eight members of the team, including founders Anthony Lesoismer and Cyrus Fazel, it also goes on to say that the full team spans 20 different countries.

Numerous team members at SwissBorg have extensive backgrounds in portfolio management and financial advisory. Additionally, a significant number of them are alumni of prestigious business schools across Europe.

Cyrus Fazel is one of the founders of SwissBorg and serves as its CEO. Cyrus is a multicultural fintech professional with over a decade of experience in asset management and algorithmic trading.

Before starting SwissBorg, he served as the Head of Investment Management Platform and was a Senior Hedge Fund Advisor at SEQUOIA Asset Management SA.

Anthony Lesoismer serves as the co-founder and Chief Strategy Officer of SwissBorg. Before launching SwissBorg, he was in charge of Financial Markets Digital Advisory at JFD Brokers. Additionally, he has worked in various sales roles focusing on derivatives and ETFs.

Technically, the CTO is Nicolas Remond, an experienced software engineer. After earning his Master’s degree in Computer Science from the Ecole nationale supérieure des Mines de Paris, he went on to take on a number of roles in software creation and design. However, one thing missing from his resume is any experience with blockchain technology.

SwissBorg products

SwissBorg Wealth App

The SwissBorg Wealth app is the heart of the platform, allowing users to create and manage their cryptocurrency portfolio. It is an easy and intuitive way to manage their cryptocurrency assets. Users will find the dashboard quite intuitive, yet extremely powerful. It can help take guesswork out of cryptocurrency investing.

It is also flexible, allowing users to fund their SwissBorg accounts in a number of fiat currencies, including USD, EUR, and GBP. Withdrawals are easy, and since SwissBorg’s banking partners are part of the SEPA and Faster Payments networks, bank transfers can be completed within 5 minutes.

Smart Yield Account

Smart Yield Account is a relatively new addition to the Wealth App that allows users to earn annual returns on their deposits of various cryptocurrencies. Smart Yield Account connects you with selected partners across a full range of decentralized finance applications to create a best-in-class yield program. This ensures you benefit from the best market opportunities, delivering the highest returns for an acceptable level of risk.

SwissBorg Rewards Program

SwissBorg Rewards Program is a referral program that allows users to invite their friends and earn BTC in the process. Each successful invitation will earn the user and their friends a Bonus Ticket worth between €1 and €100. The process is quite simple:

• Step 1: To share your invitation link, simply access the Rewards Tab within the SwissBorg app and distribute your exclusive reward link.
• Step 2 : Your friend downloads the SwissBorg app and deposits €50 or more (or the equivalent in their currency).
• Step 3 : Both users and friends get bonus tickets and can claim their Bitcoin rewards. Then continue sharing to earn more tickets and rewards.

SwissBorg Premium Members

Becoming a SwissBorg Premium Member unlocks benefits such as reduced exchange fees and significantly increased Smart Yield Account yields. Users interested in upgrading to a premium account need to purchase 50,000 CHSB tokens and then stake them for a period of 12 months. During these 12 months, the tokens are locked and cannot be withdrawn or traded.

After the initial 12-month period ends, the staked tokens unlock. At that point, users can keep them staked to maintain their premium account status, but they are also free to withdraw or exchange tokens at any time.

Community App

The SwissBorg Community App is an interesting concept that allows users to speculate on the future price of Bitcoin and earn Bitcoin if they are right. It essentially rewards learning about Bitcoin. It is available on both Android and iOS and once installed, signing up and getting started takes just 90 seconds or less.

SwissBorg Network Token (CHSB)

The SwissBorg platform utilizes a utility token called CHSB. This token is based on the ERC-20 standard and has a maximum supply of 1 billion tokens. Currently, there are approximately 933 million tokens in circulation.

The remaining tokens are held in reserve to develop and promote the project. The majority of CHSB tokens are traded on HitBTC. Although there are some small volume trades on KuCoin and Uniswap, you can open an account at the best crypto exchanges 2024. Most major exchanges such as Binance and Bittrex do not support trading of CHSB tokens.

Benefits of CHSB Token

In addition to the potential for price appreciation, there are a number of other benefits to be gained from holding CHSB tokens. These benefits include:

• Get exclusive access to upcoming wealth management tools and services right in the app.
• Premium membership with very competitive exchange rates and no fees. This is called “Staking” on the wealth app.
• Voting rights in referendums and the future of the SwissBorg Platform.
• Earn great rewards by investing in the SwissBorg Ecosystem

CHSB Use Cases

Since the CHSB token powers the entire SwissBorg ecosystem, it has great utility. Not only can users stake CHSB to offset some of the platform’s fees, the token also grants voting rights to participate in the governance of the platform.

It is also used in reward distributions set by the Proof of Meritocracy concept and is part of the Protect & Burn policy which aims to maintain upward pressure on the token price by increasing scarcity by burning circulating tokens.

Proof Of Meritocracy

The Proof of Meritocracy features allow CHSB token holders to participate in the development and progress of the entire network. When holding CHSB tokens, RSB tokens are created and they are used as voting tokens for referendum proposals.

The more CHSB they hold, the more RSB they generate and the more voting power they have. In addition to helping determine the future direction of SwissBorg, users are also rewarded for participating in referendum votes.

Protect And Burn

Protect and Burn help support the price of the CHSB token by buying back and burning circulating tokens whenever the price of CHSB tends to be lower. This is beneficial because it avoids price arbitrage that can occur when buybacks are announced ahead of time.

In traditional buybacks, where buybacks are announced ahead of time, it is not uncommon for arbitrageurs to buy tokens before the scheduled burn time and then sell their tokens at a higher price once the token supply has decreased. This does not protect long-term token holders and loyal community members in the way that the SwissBorg Protect and Burn policy does.

Every month SwissBorg adds 20% of the Wealth application fee to a reserve to protect the price of the CHSB token. If the price of CHSB moves into bearish territory (using the 20-day moving average as their indicator), SwissBorg will automatically place a buy order for CHSB using the reserve.

SwissBorg DAO

The SwissBorg Decentralized Autonomous Organization (DAO) was created to support ecosystem governance. It serves as a unifying bridge between the SwissBorg team and community members. Through it, community members have the ability to help determine the direction the project will take, while also being rewarded with CHSB tokens for their participation in ecosystem governance.

The team has identified a number of different roles for community members to participate in. Here are some of them:

• Digital Artist: Meet a content creator responsible for generating various forms of content—such as videos, presentations, blogs, and images to support the promotion of the SwissBorg initiative.
• Translator: The translator’s job involves converting significant documents and articles into their primary language. This highly sought-after position helps SwissBorg complete one of the most difficult but important tasks.
• Promoter: The promoter is a marketer who is responsible for spreading the word about SwissBorg, mainly on social media platforms. Promoters are key to increasing the adoption and usage of the platform, thus increasing the value of the CHSB token.
• Moderator: A moderator is similar to an administrator found on forums and discussion boards. Moderators regulate communication on the various channels used by SwissBorg. These responsibilities include enforcing group rules, moderating discussion threads and promoting healthy discussion, removing inappropriate content, etc.
• Advocates: Advocates are similar to promoters, but instead of working with social media channels, they work with real-world channels. This means connecting with other groups and people and organizing events to promote SwissBorg. This can include town halls, AMAs, group meetings, and other in-person events.
• Business Referral: In essence, a business referrer takes on the role of an ambassador, trying to make connections with business partners, investors, and influencers in the crypto community.

Conclution

In 2017, SwissBorg successfully conducted one of the most remarkable fundraising campaigns and launched a robust product. The company tackles a significant issue by making asset management and cryptocurrency investment accessible to everyone.

AZCoin hopes the article has provided you with valuable insights regarding SwissBorg’s cryptocurrency.