Everything You Need To Know About SwissBorg (CHSB) – SwissBorg is a wealth management platform built on the blockchain that gives its members the resources they need to take control of their cryptocurrency holdings. We’re excited to share our enthusiasm for this long-standing platform with the readers of this SwissBorg review.
This project aims to provide users with an accessible platform to learn about and transact in the emerging cryptocurrency financial market. SwissBorg’s creators recognized the need for a centralized hub from which users could access the wide variety of cryptocurrency-related services and technologies that haven’t yet been standardized.
In this post, we will examine the SwissBorg Exchange, the SwissBorg token, the problems it aims to answer, how it does so, and the benefits and drawbacks of the platform.
What Is SwissBorg (CHSB)?
SwissBorg is bringing the benefits of wealth management to the masses by making it interesting, equitable, and community-focused. SwissBorg is a company based in Lausanne, Switzerland, with a global staff of over 180 individuals and a Virtual Currency License that permits them to provide virtual currency exchange and virtual currency wallets to customers worldwide.
The SwissBorg app enables over 450,000 users to purchase, sell, and digital exchange assets using tools like AI-powered asset analysis and Portfolio Analytics.
Their Smart Yield wallet is the best in the business, allowing users to earn yields of up to 20% in USDC. Moreover, premium account holders can earn up to 2X the standard yield, further enhancing the value of our token’s staking functionality.
The SwissBorg token is vital to the SwissBorg ecosystem and a top performer in 2020, having increased in value by over 2,700% and cracking the top 70 tokens on CoinMarketCap.
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SwissBorg thinks blockchain technology may give people more agency over their financial situation. This is a necessary step toward a world of decentralized governments in which everyone is valued for their efforts and receives just compensation.
Who Are the Founders of SwissBorg?
Cyrus Fazel is a co-founder and current CEO of SwissBorg. In 2007, he earned his degree from EDHEC Business School in international business management. His first job out of college was with Julius Baer in 2007 as a portfolio advisor.
After some time, Fazel started working as an advisor for Aramis Capital’s hedge funds. In 2016, he pushed his passion for personal finance in a new direction and co-founded SwissBorg.
SwissBorg’s other co-founder and current Chief Technology Officer is Anthony Lesoismier-Geniaux. After finishing his degree in finance at Polytech Nice Sophia in 2008, he promptly entered the workforce. At JFD Wealth, he started out as a fund manager’s assistant before being promoted to head of digital advice. It was in 2016 that he and Cyrus Fazel created the company SwissBorg.
What is the SwissBorg (CHSB) token?
CHSB is the central component of the SwissBorg ecosystem, and it is an Ethereum token (ERC-20). A few of the services that CHSB provides are:
Yielding
By tying the yield paid to the success of the SwissBorg ecosystem as assessed by the SwissBorg Community Index, the CHSB Yield Program completely revamps how cryptocurrency is rewarded.
Protect & Burn Mechanism
The CHSB token’s value is being protected by 20% of the revenue produced through fees in the SwissBorg app. SwissBorg will immediately begin placing buy orders whenever the market conditions turn unfavorable. After being purchased, all CHSBs are burned in an open ceremony.
Premium Membership
Tokens for the CHSB can be locked to gain access to Premium features. The Genesis Premium account doubles the yield on Smart Yield accounts for USDC, CHSB, ETH, BTC, BNB, USDT, and XRP, in addition to allowing fee-free Bitcoin, CHSB, and stablecoin exchanges. The Community Premium account has a yield multiplier of 1.5 and transaction fees of 0.75%.
Exclusive Access.
Participate in the Community Rewards program and gain early access to upcoming special wealth management products available only through the app. By contributing to the SwissBorg DAO, users are rewarded in CHSB.
SwissBorg National Council.
Token holders have a voice in SwissBorg’s development through a decentralized National Council established in 2021.
Why Is SwissBorg So Special?
SwissBorg’s creators believe the current banking system is antiquated, so they set out to fix it. SwissBorg’s goal in bringing blockchain technology to personal finance is to put the investor in charge of their portfolio.
Openness, fairness based on meritocracy, and objectivity are three of the company’s guiding principles. To guarantee user privacy and unrestricted access to their cash, the SwissBorg network relies significantly on blockchain decentralization.
The SwissBorg team takes pride in its global reach and openness to different backgrounds and perspectives. One of the most popular cryptocurrency apps in app stores, this mobile software has garnered over 450,000 verified users from all around the world.
How Many SwissBorg (CHSB) Coins Are There in Circulation?
SwissBorg created a total of 1,000,000,000 CHSB tokens for sale during the ICO. SwissBorg tokens have a total circulation of 1,000,000,000 and have all been released.
As much as 38 percent of all CHBS tokens were set aside for public sales through community-based initiatives. As a return for their work on the platform, the development team received 20% of the tokens. It is estimated that up to 10% of the entire supply was allocated to key investors, while another 15% was set aside for the project’s second round of fundraising. As a final step, SwissBorg doled out about 14% of all CHBS tokens to seasoned investors who had expressed interest in the project.
Only about 200,000,000 CHSB are now in circulation, as most have been locked by app users for Premium features or yield-earning wallets, as per the (CHSB overview]) page on the SwissBorg website.
How Is the SwissBorg Network Secured?
The CHSB tokens and the SwissBorg platform are built on Ethereum. Since CHSB is an ERC-20 token, it will be protected by Ethereum’s PoS consensus once it is fully implemented.
Proof-of-stake (PoS) is an alternative consensus mechanism to Bitcoin’s proof-of-work (PoW) consensus, which uses a network of nodes to distribute new tokens proportionally based on their holdings. With the addition of staking to the blockchain layer, this consensus method is far more flexible than PoW.
PoS is also more popular with both programmers and end-users because it reduces energy consumption. While PoW necessitates substantial computational power for mining, PoS depends on users’ persistent coin holdings and awards more mining power to those with a larger stake.
