What is the SwissBorg Token?
The SwissBorg token (CHSB) is a cryptocurrency that powers the SwissBorg ecosystem.
It is a multi-utility token, meaning its holders get exclusive benefits in the SwissBorg ecosystem.
CHSB: The ERC-20 token
CHSB is an ERC-20 token that was built on top of the Ethereum blockchain, using the ERC-20 token standard, rather than a separate SwissBorg blockchain and smart contracts to make blockchain products.
The advantages of building on an existing blockchain are that projects can develop tokens much more easily, and that as more applications adopt existing standards, more applications will continue to adopt them, leading to interoperability between more tokens and protocols. Tokens built on existing blockchains also benefit from the chain’s existing scalability and security, which is a big advantage for CHSB.
Unsurprisingly, many of today’s most popular cryptocurrencies are ERC-20 tokens.
CHSB: The multi-utility token
The SwissBorg token is also a utility token. This term, first introduced in 2016, refers to cryptocurrencies that are issued to fund the development of the cryptocurrency, while allowing holders to interact with a company’s services.
This is different to a security token, which gives holders voting rights (similar to how shareholders are able to vote on the direction a company takes). Instead, utility token holders are given benefits in exchange for holding tokens.
CHSB metrics and utilities
The most important question to ask yourself before buying a cryptocurrency is: what is the purpose of the cryptocurrency I’m buying?
Bitcoin miners are incentivised to mitigate the double-spend problem. Ethereum miners are incentivised to operate a distributed application development platform. These incentive mechanisms and operational governance are called token economics.
Unlike protocol layer tokens such as Bitcoin or Ethereum, ERC-20 utility tokens provide a layer to build consumer platforms. For instance, one of the most successful case studies is the BNB token, a utility token that works just like discount coupons when trading on the Binance exchange. This utility token also includes voting and has incorporated a buy back and burn mechanism.
In CHSB’s case, CHSB holders are incentivised with a range of utilities, including Premium benefits, the Hero Score Program, the Community Index, the Protect & Choose mechanism and community engagement opportunities.
SwissBorg Premium benefits
CHSB holders can also lock their tokens for 12 months to receive Premium account benefits. There are 4 Premium tiers available - Explorer, Community, Pioneer and Generation Premium.
All Premium users benefit from a yield multiplier (meaning, they will earn a higher yield than standard users for all tokens they have in Earn wallets) as well as reduced fees on exchanges.
- Explorer Premium benefits: Lock 500 CHSB to earn a 25% higher yield.
- Community Premium benefits: Lock 2,000 CHSB to earn a 50% higher yield and 25% less in fees.
- Pioneer Premium benefits: Lock 7,000 CHSB to earn a 75% higher yield and 25% less in fees.
- Generation Premium benefits: Lock 20,000 CHSB to earn 100% more yield and 50% less in fees.
Learn more about SwissBorg Premium .
The Community Index
The Community Index is a measure of the health of the SwissBorg ecosystem.
The different areas the index takes under consideration are the volume of assets held in the SwissBorg app, the price of the CHSB token, the level of activity in the SwissBorg app, the engagement in the SwissBorg ecosystem and the engagement among SwissBorg’s social media audience. The higher the score is in each of these areas, the higher the Community Index will be.
Protect & Choose mechanism
The Premium users can become Guardians of CHSB and decide on how to use the CHSB held in the Protect & Choose pool.
The Protect & Choose program has two components - ‘protect’, which involves buying back CHSB, 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 CHSB 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 CHSB becomes more scarce, making them regularly and permanently more valuable.
Contribution Reward - As a thank you to all the Guardians who show great involvement in contributing to the Protect and Choose and have impacted the result of the Protect of Choose with their choices, a contribution reward will be allocated that corresponds to their voicing power, calculated according to the formula below. This applies regardless of what their choices were.
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 CHSB in this article .
The future of CHSB
CHSB was minted in an ICO in 2017, with a total maximum supply of 1,000,000,000 CHSB. (No more CHSB will be ever created on the Ethereum Blockchain.) There were nearly 24,000 participants from 149 countries, and the price of CHSB was set at $0.10.
You can see the latest metrics about burning transactions, CHSB locked in Premium and the circulating supply at CHSB Overview .
Our CHSB has already come so far, from an all-time low of $0.004 to a all-time high of $1.65, and we are confident that the future is bright.