The SwissBorg (BORG) token, formerly known as CHSB, is SwissBorg's official utility token that lies at the heart of its wealth management ecosystem. Serving as the backbone of the SwissBorg ecosystem, BORG offers multiple utilities such as governance, loyalty, and Premium membership access.
The original token, CHSB, was minted in 2017, during SwissBorg’s genesis ICO. On October 17, 2023, CHSB was migrated to the new BORG token, in order to expand its features and utility in the decentralised finance (DeFi) space.
The BORG token is now available on two major blockchain networks:
This dual-chain availability makes BORG more versatile and accessible for different DeFi protocols and wallets.
The BORG token serves multiple purposes within the SwissBorg ecosystem:
The BORG token operates on two blockchains, and each has its unique contract address:
You can find the technical details of the BORG token, including its contract addresses, contract code, decimals, and total supply, on trusted blockchain explorers like Etherscan for Ethereum and Solscan for Solana.
The Premium users can become Guardians of BORG and decide on how to use the BORG held in the Protect & Choose pool.
The Protect & Choose program has two components — ‘protect’, which involves buying back BORG, and the ‘choose’, which involves re-allocating the tokens to boost our ecosystem. Monthly, the Premium members of SwissBorg can use their voicing power regarding what should be done with the allocated funds. The core options will be the following:
Safety Net: The DeFi path is not an easy one. Following the multiple black swans that occurred this year, we are never over-prepared for an unforeseen event. Creating, maintaining and fueling a Safety net is a way to protect all Premium SwissBorg users against incurring losses on their holdings. The Community pushing for a Safety Net perfectly embodies the vision of SwissBorg, striving to become the safest place to invest in crypto.
Burn: Making BORG a deflationary token has always been a community-favourite option. Reinforcing the tokenomics, it’s an option that favours the long-term holders as each individual BORG becomes more scarce, making them regularly and permanently more valuable.
Contribution Reward: As a form of appreciation for all the Guardians who actively participated in the Protect and Choose and influenced its outcome with their decisions, SwissBorg will allocate a contribution reward based on their voting power. This reward applies regardless of their chosen options.
Pass: It’s possible that the time is not right to choose, or one doesn’t feel one option is better than the other at that time. Although likely to be less popular, we have decided that the right to skip a turn whilst expressively doing so is valuable and shall be respected.
You can find more details about the Guardians of the BORG in this article .
The BORG token is an essential element of the SwissBorg ecosystem, offering a wide range of utilities and benefits. Whether you’re looking to participate in governance, earn yields, unlock premium membership perks, or gain access to exclusive investment opportunities, the BORG token has a lot to offer. As SwissBorg continues to evolve, BORG remains a vital tool for users to manage and grow their wealth in the decentralised finance space.