SwissBorg (CHSB)

Basics

• Based in: Switzerland and Estonia.
• Started in / Announced on: 11-2017
• Testnet release:
• Mainnet release:
• Blockchain based wealth management platform

Audits & Exploits

• Bug bounty program can be found [insert here].

• From this deep dive (1-1-2021):

"They have invested heavily in security practices, including MPC cryptography, platform stress tests, and the creation of advanced security software."

Governance

DAO

• The SwissBorg Decentralized Autonomous Organization (DAO) is envisioned (1-1-2021).
• Has no full DAO yet, but holds referendums. From their website (22-10-2021):

"The CHSB Token gives you the possibility to participate by giving your opinion in our referendums to help us shape the future of the SwissBorg app. It is just the first step towards fully decentralised governance of the application."

• From this deep dive (1-1-2021):

"The Proof of Meritocracy features allows CHSB token holders to participate in the development and progress of the entire network. When holding the CHSB token there are RSB tokens generated, and these are used as voting tokens for referendum proposals. The more CHSB held, the more RSB generated, and the greater voting power the holder has"

Token

Launch

• Raised $53M from 24K people in over 149 countries (2017).

Utility

• Has voting, staking, lower fees and yield schemes. From their website (22-10-2021):

"20% of the revenue from the SwissBorg ecosystem is used to buy back and burn CHSB tokens."

So far, around 9M tokens has been burned.

• From this deep dive (1-1-2021):

"Each month SwissBorg adds 20% of the Wealth App fees to a reserve meant to protect the price of the CHSB token. If the price of CHSB moves into a bearish-zone (using the 20-day moving average as their indicator), SwissBorg will automatically place buy orders for CHSB using the reserve funds."

Other Details

• Has the RSB voting token (1-1-2021).

Coin Distribution

The top address holds 24.5% of the token supply and is labeled as SwissBorg 2, the second address is unlabeled and holds 20% exactly. After these two addresses most addresses hold less than 2% (22-10-2021).

Technology

• Whitepaper can be found here (16-11-2017).
• Code can be viewed here.

Implementations

• Built on: Ethereum

How it works

• From this deep dive (1-1-2021):

"The Smart Engine ensures that users of the Wealth App are given access to the best liquidity and exchange rates available at any time in the broader crypto markets. The Smart Engine analyzes hundreds of trading pairs in seconds by connecting to and searching all the major cryptocurrency exchanges. This allows it to discover the best rates for buying or selling in any of the supported fiat or crypto currencies.

The robot advisors within the Wealth app are also capable of predicting the direction of trends in order to assist users in making better timing decisions when investing in any of the cryptocurrencies supported by the Wealth App."

• More information on the structure can be found here (8-3-2018).

Fees

• From this deep dive (1-1-2021):

"SwissBorg has created one of the most transparent fee structures in the crypto-industry. It is focused 100% on offering users the best exchange rates and no hidden fees. That’s not to say there are no fees at all, but where there are SwissBorg is completely transparent about them. This allows users to always be certain of their costs, and allows them to compare to be sure they are getting the best exchange rates available at all times."

Staking

• From their website (22-10-2021):

"By staking CHSB, users lock their tokens for a pre-defined period, reducing the available supply and increasing scarcity while enjoying Premium benefits."

• From this deep dive (1-1-2021):

"Users interested in upgrading to a premium account need to purchase 50,000 CHSB tokens and then stake them for a 12 month period. During these 12 months the tokens are locked and cannot be withdrawn or exchanged."

Validator Stats

• 176.12 M staked (22-10-2021), this is about 25% of the circulating supply.

Compliance

• Has three institutions, SBorg SA, SwissBorg Invest SA and SwissBorg Solutions OÜ. Has a list of supported countries (100+). One notable exclusion from the list is the United States. Investors in the U.S. are unable to open an account with SwissBorg or use their Wealth App due to the stringent financial regulations in the U.S (1-1-2021).

Roadmap

• Can be found here (22-10-2021).

Usage

• Claims 1.76B in user assets value with 450K+ verified users (22-10-2021).

Competition

• Yield optimizers like yEarn.

Team, Funding and Partners

Team

• Full team can be found here.
• Has three institutions, SBorg SA, SwissBorg Invest SA and SwissBorg Solutions OÜ.
• Anthony Lesoismer; co-founder
• Cyrus Fazel; co-founder
• "It counts members from over 20 countries as part of its multi-cultural and multi-disciplinary team." (1-1-2021)

Funding

• Raised $53M from 24K people in over 149 countries (2017).

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