SwissBorg Price (CHSB)

What Is SwissBorg (CHSB)?

SwissBorg is a Switzerland-based project aiming to bring independence and decentralization to personal finance. Launched in 2017, SwissBorg aims to revolutionize Swiss private banking and employ the power of blockchain technology and smart contracts to create a decentralized network for personal finance.

SwissBorg relies on its multi-utility CHSB token to allow users to perform a plethora of actions on the network. The project aims to create a democratic, decentralized and professional ecosystem, enabling users to manage their crypto portfolios with ease. SwissBorg’s creators also launched the SwissBorg Wealth App, which further optimizes the management of personal finances. The app uses revolutionary MPC keyless technology to allow users to exchange between fiat and crypto in a matter of seconds.

Who Are the Founders of SwissBorg?

Cyrus Fazel is one of the co-founders and current CEO at SwissBorg. He graduated in international business management from the EDHEC Business School in 2007. His professional career started as a portfolio advisor at Julius Baer in 2007. Later on, Fazel became a hedge fund advisor for Aramis Capital. In 2016, his interest in personal finance took a new form, and he helped found SwissBorg.

Anthony Lesoismier-Geniaux is the other co-founder and CTO of SwissBorg. He graduated in finance from Polytech Nice Sophia in 2008 and immediately started working in the field. At first, he was a fund manager assistant and later became head of digital advisory at JFD Wealth. In 2016 he partnered up with Cyrus Fazel and co-founded SwissBorg.

What Makes SwissBorg Unique?

According to SwissBorg founders, the current banking system is obsolete, and their project is a response to this problem. By introducing blockchain technology to personal finance, SwissBorg aims to give individuals complete control over their portfolios and investments.

The central values of the company include transparency, equality through meritocracy, and impartiality. The SwissBorg platform depends heavily on blockchain decentralization to ensure that personal data is protected and users can control their funds without restrictions.

The SwissBorg team boasts inclusivity and has members all over the world. The mobile app is one of the top cryptocurrency apps in app stores and has attracted more than 100,000 verified active users globally.

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How Many SwissBorg (CHSB) Coins Are There in Circulation?

During the initial coin offering (ICO), SwissBorg minted the maximum supply of 1,000,000,000 CHSB tokens. All of these tokens have been released, which means that the total circulation of SwissBorg tokens is also 1,000,000,000.

About 38% of all CHBS tokens were allocated to community sales to the public. Another 20% of the tokens were distributed among team members as rewards for creating the platform. Close to 10% of the total supply was directed towards strategic investors, while another 15% was dedicated to the second round of funding for the project. Finally, SwissBorg distributed close to 14% of all CHBS tokens to experienced investors, who had already stated interest in the project.

How Is the SwissBorg Network Secured?

SwissBorg and the CHSB tokens are Ethereum-based. As an ERC-20 token, CHSB will be secured by the proof-of-stake (PoS) consensus, as Ethereum itself transitions to it.

Unlike the proof-of-work (PoW) consensus employed by Bitcoin, PoS relies on majority holders to mine new tokens. This consensus method is significantly more versatile compared to PoW, as it introduces the process of staking to the blockchain layer.

In addition, PoS is becoming more popular among developers and users alike because it is more energy conscious. While PoW requires a lot of computing power for mining, PoS relies on static coin holdings and gives more mining power to users with a more significant stake.

Where Can You Buy SwissBorg (CHSB)?

SwissBorg can be traded at a number of popular exchanges, including:

• HitBTC
• UniSwap (V2)
• KuCoin
• Bilaxy

Read more about buying crypto.