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SwissBorg is a blockchain-based wealth management platform that provides its users with the infrastructure and tools to manage their cryptocurrency investments more efficiently.
The project's goal in creating this easy-to-use platform is to help users navigate the new financial realm of cryptocurrencies. SwissBorg's founders saw the need for such a platform to overcome the sometimes complex nature of cryptocurrencies, sparse infrastructure, and tools that have yet to find standardization.
In our next review, we'll take a deep dive into SwissBorg and explore the problems they're trying to solve, how they'll do it, and the pros and cons of the platform.
The SwissBorg project is the idea of founders Anthony Lesoismer and Cyrus Fazel. The two first raised $ 53 million for the back of the project, then launched at the height of the cryptocurrency boom in December 2017.
While the project is based in Switzerland, its members are spread all over the world. It has members from more than 20 countries on its multicultural and multidisciplinary team committee.
SwissBorg is a secure blockchain-based wealth management platform for cryptocurrency investments. It is the first of its kind, and its goal is to simplify the cryptocurrency investment process. It does this in a number of ways, including integration with major cryptocurrency exchanges, and with a community-owned model.
In addition to the PC platform, there are also two mobile apps: the Wealth app and the Community app. Both are available for iOS and Android devices and make the process of signing into the platform much easier.
The main results of the project in early 2021 include the success of the
$ 53 million fundraising, building a large community, increasing use of a Bitcoin prediction app, and a powerful native token (CHSB).
SwissBorg Wealth application
The SwissBorg Wealth app is the centerpiece of the platform, allowing users to create and manage their cryptocurrency wallets. It is an easy and intuitive way to manage cryptocurrencies.
Users will find the dashboard very intuitive, but also extremely powerful. It can help take any guesswork out of the cryptocurrency investing process.
The easy to use and intuitive interface makes the Wealth app something special.
Swissborg is also flexible, allowing users to fund their SwissBorg accounts using a range of fiat currencies, including USD, EUR and GBP. Withdrawals are easy and as swissborg's banking partners belong to SEPA, bank transfers from the Faster Payments network can also be done in 5 minutes.
New resources are added regularly and the Wealth app will soon be available for IOS and Android operating systems.
To learn more about some of the features that make the Wealth app unique in the cryptocurrency investment community, read on:
Smart engine
The smart engine ensures that users of the Wealth app have access to the best liquidity and exchange rates available at all times in the extensive cryptocurrency markets.
The smart engine analyzes hundreds of trading pairs in seconds by logging in and searching all major cryptocurrency exchanges. This allows him to discover the best rates to buy or sell in any of the supported fiat or crypto currencies.
Analytical tools and consultants
The Wealth app continuously analyzes supported assets, and through its deep learning algorithms, users are able to gain a better understanding of their portfolios. This includes overall performance analysis, real-time advice on how to improve that performance, and tips that help users understand the weaknesses of their investment strategy.
Powerful analytical capabilities built directly into the application.
The robotic advisors within the Wealth app are also able to predict the direction of trends to help users make better timing decisions when investing in any of the cryptocurrencies supported by the Wealth app.
Advanced security
Because SwissBorg understands the dangers involved, they have placed the security of the Wealth app and users' funds as a top priority. Because of this, they have invested heavily in security practices, including MPC encryption, platform endurance testing, and the creation of advanced security software. As a result, the Wealth application is stable and strong, and remains safe from hackers, ensuring that users' funds are always safe.
Transparent taxes
Some platforms and entities in the cryptocurrency industry promise low or no fees, but have no transparency to back up their claims. SwissBorg has created one of the most transparent fee structures in the cryptocurrency industry. It is 100% focused on offering users the best exchange rates and no hidden fees.
This is not to say that there are no fees, but SwissBorg is completely transparent about this. This allows users to always be sure of their costs, and allows them to compare to make sure they are getting the best exchange rates available at all times.
Wealth App users can easily diversify and take the guesswork out of their investments by using the Wealth App cryptocurrency package. These are preselected groups of cryptocurrencies grouped together in the same way a fund works. This can help reduce risk and improve performance. Cryptocurrency bundles are rebalancing all the time, as funds are moved to the best performing assets and the worst performing assets automatically.
All these features allow SwissBorg users to use sophisticated portfolio management techniques with ease.
Smart Yield Account
The Smart Yield account is a relatively new addition to the Wealth app that allows users to earn annual returns for depositing various cryptocurrencies. As this is a new program SwissBorg is currently accepting applications to be put on a waiting list and then slowly board users.
The Smart Yield account connects you to select counterparties with a full range of decentralized financial applications to create a leading return program. This allows you to take advantage of the best market opportunities, allowing you to obtain the maximum return for the most acceptable level of risk.
DeFi features are added via Smart Yield.
Currently, the only supported asset is USDC, with an APY of 10,35% for standard users of the wealth app, and 20,69% for premium users. The team is also working on adding BTC, ETH, BNB and CHSB to the Smart Yield account.
Rewards Program SwissBorg
The SwissBord Rewards program is a referral program that allows users to invite their friends and earn BTC in the process. Each successful invitation earns you and your friend an award ticket worth between 1 and 100 euros. The process is quite simple:
STEP 1: Share your invitation link by opening the Rewards tab in the SwissBorg app and sharing the unique reward link.
STEP 2: Your friend downloads the SwissBorg app and makes a deposit of € 50 or more (or equivalent in their currency).
STEP 3: The user and friends receive an award ticket and can claim their reward in Bitcoins. Then keep sharing to earn more tickets and prizes.
SwissBorg Premium Members
Becoming a premium account holder allows you to reap benefits such as reduced exchange fees and dramatically increased returns in your smart yield account. Users interested in upgrading to a premium account must purchase 50.000 CHSB tokens and keep them for a period of 12 months. During these 12 months, the tokens are blocked and cannot be withdrawn or exchanged.
After the initial 12-month period, in-game tokens are unlocked. At this point the user can keep them in play to maintain his premium account status, but he is also free to remove or redeem the tokens at any time.
Community application
The SwissBorg community application is an interesting concept as it allows users to speculate on the future price of Bitcoin and earn Bitcoin if they are right. Basically, it strengthens learning about Bitcoin. It is available in Android and iOS versions and once installed it only takes 90 seconds or less to sign up and get started.
Make your Bitcoin price prediction for a chance to win some Bitcoins.
SwissBorg team
SwissBorg defines itself as "a team 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 shows the first eight team members, including its two founders Anthony Lesoismer and Cyrus Fazel, it goes on to say that the full team covers 20 different countries. Many members of the SwissBorg team bring years of experience in portfolio management and financial advisory services. Many of them have also graduated from some of the best business schools in Europe.
Cyrus Fazel is one of the founders of SwissBorg and acts as CEO. Ciro is a
multicultural fintech professional with over a decade of experience in wealth management and algorithmic trading. Before founding SwissBorg, he was Head of Investment Management Platform and Senior Hedge Fund Advisor at SEQUOIA Asset Management SA.
In addition to his role at SwissBorg, Cyrus is also co-leader of Disruption Disciples, a decentralized global collective of innovators and technology enthusiasts united by shared values and a desire to build a better world with the help of exponential technologies. Through local and international meetings, continuous exchanges of thought and collaborations, they explore and develop creative solutions to pressing problems.
Anthony Lesoismer is the other co-founder of SwissBorg and his CSO. Prior to founding SwissBorg, Anthony was in charge of digital financial market advisory at JFD Brokers. He has also held various sales positions in derivatives and ETFs.
The first eight members of the SwissBorg team.
On the technical side, the technical director is Nicolas Remond, an experienced software engineer. After earning a master's degree in computer science from the Ecole Nationale Supérieure des Mines de Paris, he has held various roles in software creation and design. One thing missing from his CV, however, is any experience with blockchain technology.
Looking at the overall team, it is clear that they have extensive experience in finance and investing, but they appear to be quite weak in terms of blockchain technology. Of course, SwissBorg is not an extremely complex blockchain project, so the management team's limited blockchain experience may not be a huge problem. Among other individuals spread across 20 countries, we are sure there must be blockchain experts.
Available countries
SwissBorg can currently be used in over 115 countries around the world, and they have plans to include many more in the future. One thing to consider is that residents of some countries may not be able to access SwissBorg's full range of features. You can see if your country is included and what is supported by visiting this page.
The 15 fiat currencies currently supported by the Wealth application.
One notable exclusion from the list is the United States. In the US, investors are unable to open an account with SwissBorg or use their Wealth application due to the strict financial regulations in the US.
Activities supported
Currently (March 2021), SwissBorg supports 15 different cryptocurrencies and 15 different fiat currencies.
The list of new activities under review on March 1, 2021.
They are always adding new assets and have continuous votes on what other assets should be included in their asset application.
Private asset management
The private wealth management industry has grown considerably in recent years in response to rising levels of wealth around the world. In the United States alone, the number of millionaires has more than doubled since 2010, and there are similar trends in the rest of the world, particularly in China and other emerging economies.
Another thing that is driving the growth in turnout and the need for private wealth management, of course, is the cryptocurrency and decentralized finance revolution that is making far more millionaires.
An encrypted private wealth management platform such as SwissBorg is considered a private wealth management Fintech. The traditional wealth management industry has been slow to include blockchain technology, despite the urgent need for wealth management to become more transparent and accessible to all.
There is a strong set of values behind the development of SwissBorg.
This is partly due to the fact that large companies and financial players continue to underestimate the exponential growth and disruptive nature of blockchain technology. Furthermore, as cryptocurrencies continue to be subject to confusion and uncertainty about their status as an asset class, there are few in the traditional community of financial advisors willing to develop solutions for cryptocurrency holders.
In short, the financial industry, especially the private wealth management industry, must redefine itself and catch up with the decentralized finance and blockchain technology revolution.
Decentralized financial platforms offer many benefits that traditional centralized finance and investment solutions do not have. This includes greater transparency, lower fees, time savings and improved investment solutions.
When SwissBorg was founded, it was one of the only decentralized wealth management projects. The only similar projects were the crypto-funds that existed at the time. SwissBorg is considered superior to these centralized solutions because it gives the community the right to choose the direction the platform will take.
There have been competing projects that have emerged more recently, but with its advantages SwissBorg remains one of the largest blockchain and cryptocurrency-based wealth management platforms. Even considering the emerging competition, the private wealth management industry is large enough to support a number of platforms.
SwissBorg Network Token (CHSB)
The utility token used on the SwissBorg platform has the ticker CHSB. It is an ERC-20 token, with a total supply of 1 billion tokens. The current supply in circulation is slightly less than this figure, which is 933 million.
The CHSB exploded higher in 2020.
The remaining tokens are kept in reserve for the development and promotion of the project. Most CHSB tokens are traded on HitBTC, although there are some small volume trades on KuCoin and Uniswap. Most major exchanges like Binance and Bittrex are not in favor of trading the chsb token.
In terms of price performance, the chsb token exploded in 2020. Before, it was quite depressed, starting in February 2018 at $ 0,10, but dropping below $ 0,01 in August 2018. The price remained there until in January 2020, when it more than doubled to over $ 0,02.
The price remained there until May 2020, when it exploded upwards to $ 0,15 in one month. Prices fell back to just under $ 0,07 at the end of October 2020 before exploding again. As of January 1, 2021, the price of a single chsb token was just over $ 0,26.
Advantages of the chsb token
Aside from the potential for price appreciation, there are a number of other benefits gained by holding the chsb token. These benefits include:
Access to future exclusive wealth management products and services within the app.
Premium membership with very competitive exchange rates and zero taxes. This is known as a “staker” on the application.
The right to vote in referendums and the future of the SwissBorg platform.
Earn amazing rewards for investing in the SwissBorg ecosystem.
Chsb is a powerful utility token.
Speaking of price appreciation, the chsb token also has a feature called Protect & Burn which protects the CHSB price by burning the tokens to reduce the supply in circulation. This feature aims to protect the token from flash crashes and devaluation, and should provide constant upward pressure on the CHSB price. Currently, 20% of the taxes generated by the Wealth application are burned to reduce supply and protect prices.
CHSB use cases
As the CHSB token powers the entire SwissBorg ecosystem, it serves a great purpose. Not only can users bet on the CHSB to offset some of the platform's fees, but the token also grants voting rights to participate in the governance of the platform.
It is also used in reward distributions outlined by the meritocracy concept of proof, and is part of the combustion policy that keeps upward pressure on token prices by increasing scarcity by burning out tokens in circulation.
Proof of Meritocracy
The meritocratic proof features allow CHSB token holders to participate in the development and advancement of the entire network. When holding the chsb token, RSB tokens are generated, and these are used as voting tokens for referendum proposals.
The protection and the burn-in process.
The longer the CHSB is held, the more RSB is generated and the more voting power the holder has. In addition to simply helping to determine the future course of SwissBorg, users are also rewarded for participating in the referendum vote.
Protect and burn
The Protect and Burn policy helps support the price of chsb tokens by repurchasing and burning the outstanding tokens whenever the price of CHSB is falling. This is beneficial because it avoids the arbitrage that can occur when repayments are announced in advance.
In traditional redemptions where the redemption is announced in advance, it is not uncommon for merchants to buy tokens early and then sell their tokens at a higher price right after the token supply is low. This does not protect long-term token holders and loyal community members like SwissBorg's Protect and Burn policy does.
Each month, SwissBorg adds 20% of the asset application fee to a reserve 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 an indicator), SwissBorg automatically places buy orders for chsb using reserve funds.
DAO from SwissBorg
The SwissBorg Decentralized Autonomous Organization (DAO) was created to assist in ecosystem governance. It is a unifying bridge between the SwissBorg team and community members. Through it, community members have the opportunity to help determine the direction the project will take, while being rewarded with CCSB tokens for their participation in ecosystem governance.
The team defined a few different roles for community member participation. Here are some of these roles:
Many different roles to play in contributing to the DA.
Digital Artist: This is a content creator responsible for creating any type of content (videos, presentations, blobs, photos, etc.) that helps promote the SwissBorg project.
Translator: Translators are responsible for translating all important documents and articles into their native language. This uncivilized position helps SwissBorg accomplish one of the most difficult but important tasks.
Promoter: The promoter is a market specialist who is responsible for the dissemination of SwissBorg, mainly on social media platforms. The promoter is the key to increasing the adoption and use of the platform, thus increasing the value of the chsb tokens.
Moderator: A moderator is similar to an administrator found in forums and discussion boards. The moderator regulates the communications on the various channels used by SwissBorg. These responsibilities include enforcing group rules, moderating the discussion flow and promoting healthy discussion, removing inappropriate content, and more.
Activist: The activist is similar to the promoter, but rather than working with social media, he works with real-world channels. This means networking with other groups and individuals and organizing events to promote SwissBorg. This can include town hall meetings, AMAs, group meetings, and other in-person events.
Business Introduction: Essentially, the business introducer acts as an ambassador, seeking to connect with business partners, investors, and influencers within the crypto community.
Conclusion
The $ 53 million fundraising in 2017 was one of the most successful in the blockchain industry at the time. SwissBorg didn't waste the funds either, but delivered an impressive product that solves many of the problems associated with private wealth management for cryptocurrencies. It also makes investing in cryptocurrencies simple and accessible to everyone.
The community app has already attracted more than 150.000 users.
The Wealth app developed by SwissBorg is a powerful yet simple solution for investing in cryptocurrencies. Users can buy and sell, deposit and withdraw, manage all their crypto assets and even trade, all in the same intuitive interface.
What's even more impressive is that SwissBorg has become fully compliant with all regulatory frameworks for the more than 115 countries that can take advantage of the Wealth application. This means that users can participate in cryptocurrency investments without worrying about the legality of their actions.
We also like the community approach and decentralized governance, which is already working very well for SwissBorg.
Overall, it seems clear that the SwissBorg Wealth app has fulfilled the project's mission of making cryptocurrency asset management simple and more accessible. Investors seem to agree given the huge price hike seen in the CCSB token in 2020.
If SwissBorg can continue on the path it has taken, this could be one of the major blockchain projects that will continue to set the tone for wealth management for decades to come.
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