Get to know SwissBorg’s Referendum II
In the history of modern financial services, the opportunity for new contenders to become tomorrow’s leaders has never been greater. This Referendum is an opportunity for CHSB token holders to help shape SwissBorg’s future projects and redraw the landscape of the financial world.
Through robotics, automation, self-learning algorithms and decentralization, digitalization is disrupting the banks’ business models by reducing costs and leveraging swarm intelligence.
As blockchain protocols evolve, we anticipate growth at the application layer, the so-called “Dapp”. Just like it took time for email application to develop after internet protocols emerged, expansion of blockchain technology has laid the foundation for an ecosystem of Dapps.
A financial ecosystem for a decentralized future
In less than a decade, tech giants such as Uber, Facebook, Alibaba, and Airbnb have amplified their dominance thanks to their network economics and evolutionary business models. Like a snowball effect, the more users they have, the more data they collect. The more data they collect, the more they can enhance their algorithms. This cycle generates better services for their consumers (and advertisers) while increasing the benefits of being a part of their network. These models, networks, and cycles end up developing a highly centralized marketplace.
Decentralization and meritocracy are the center of the next wave of innovations, that will notably disrupt financial services:
The ultimate potential of the blockchain lies in its ability to provide a direct peer to peer interaction without the need for a costly and intrusive intermediary. Through utility tokens, the community will turn blockchains into networks and markets.
How do utility tokens help build decentralized ecosystems?
Money is a form of accounting between individuals in a society meant to facilitate exchange. But this traditional tool of exchange entails a prominent and intrusive role played by an intermediary, namely a central bank, that designates and insures value. Blockchain and tokenization promise to disrupt this system and usher in a new ecosystem that enables peer to peer interaction and lowers the cost and intrusiveness of intermediaries.
A class of token that is growing in popularity and proving to be very essential within the blockchain ecosystem is the ‘utility token’. This class of tokens exists, primarily, as units of accessibility on the blockchains that they represent. A more interesting characteristic of these tokens is the versatility that they offer by revolutionizing existing concepts and creating new ecosystems that empower the participants therein.
The ideal utility token creates a win/win solution for every single stakeholders’ interaction with an ecosystem.
- Miners are happy to lend their computing power to validate transactions because they receive a reward in bitcoin.
- Bitcoin enthusiasts are happy to pay miners because bitcoin transactions are (most of the time) cheaper and faster than bank transfers.
CHSB, a multi-token powered by swarm intelligence
Since our ICO over 4,200 SwissBorg community members participated in the very first test of our ‘proof of meritocracy’ system by voting in our first referendum.
As we promised in our white paper, reports, and public talks, we are on the verge of adding a new utility to the very heart of our ecosystem: the CHSB token. We believe that CHSB’s potential as a multiutility token has yet to be tapped. The more utilities we unveil the more the SwissBorg community and the larger crypto community will understand the SwissBorg token’s real value.
What is an ecosystem?
Utility tokens are designed to act as the connecting units of an ecosystem allowing the population to communicate with each other to create a community that evolves collectively.
SwissBorg ecosystem — population
The larger the population a platform attracts the bigger the community. The bigger the community, the more demand for its utility token. Let’s list the demographic categories that could potentially collaborate within the SwissBorg ecosystem:
Which category should SwissBorg focus on for the first ICO competition?
We believe that our CHSB token holders should play a pivotal role in every major decision SwissBorg makes, that is why we are asking you to join-in, and cast your vote for the specific industry you would like SwissBorg to engage:
- Communications and Social Networks (Filecoin, Status …etc.)
- Data & AI (QRL,Numeraire)
- Finance (Bancor, Cindicator)
- Gaming (bitcrystals, gamecredits)
- Hospitality and Entertainment (TAO)
What’s new in the second Referendum smart contract and process?
The distribution of RSB tokens is no longer a 1:1 ratio against CHSB. This time, we want to add the holding time in the equation, giving more voting power (and reward) the longer the tokens are staked.
Let’s say that in general, the function f(∆t)is the new factor applied to the CHSB balance, where ∆t is the holding period.
However in practice the CHSB balance is not always coming from a unique token transfer, and we have to track each token’s provenance to compute an accurate RSB amount.
In this example, we have three transfers.
T1 buy 3 CHSB
T2 sell 1 CHSB
T3 buy 2 CHSB
The final balance at the referendum time is 4, at which point we have to split it into two regions A and B to correctly get the RSB tokens. Region C is discarded. The final equation is:
For the second referendum, we define:
This means we have a linear bonus:
For participating in the second referendum, you will receive 0.01 CHSB tokens for every RSB token used to vote.
HELIX ORANGE & SWISSBORG REFERNDUM II:
HELIX Orange is the first project to be selected for the SwissBorg ICO Platform. A great, solid digital ID project that was also nominated for the FinTech Germany Award, Helix is a perfect fit for the SwissBorg ecosystem. Staying true to the SwissBorg’s meritocratic and community-centric approach, all CHSB token holders participating in the second referendum will receive SwissBorg selected project’s token in addition to the CHSB tokens promised, in this case, the Helix Token (HIX), once their ICO has been completed. Unlike the distribution of the CHSB reward the distribution of HIX tokens will take place after the completion of the Helix ICO based on community members’ participation in second SwissBorg referendum.
**The ratio for the HIX token airdrop is 1/60 so, 60 RSB2 gives you 1 HIX. 1000 RSB2 = 10 CHSB + 16.66 HIX**
Note: If you did not hold CHSB tokens in your own private wallet during the 1st of July, you will not receive RSB tokens. All the transfers after this block:
5885914, will not be taken into consideration.
Voting has been opened and closes on the 3rd of August, 2018, 12:00 UTC!!
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