Swissborg — CHSB Utilities

Published in

SwissBorg DAO

5 min readNov 16, 2020

Swissborg’s CHSB, the blockchain-based asset management platform, is a Utility token. But what is it and what is it for?

First of all, let’s recall what are the different tokens that exist:

Payment token, like BTC, Zcash, Monero, …
Utility token, like ETH, BNB, CHSB, …
Security token like USDC, DAI, PaxGold

All these tokens need a network in order to work, which is called Blockchain.

The 2 main categories of blockchain are :

Proof-of-Work (PoW): like Bitcoin, whose network works thanks to minors, who create new Bitcoin or validate network transactions and for that they are paid, it’s Proof-of-Work. This is also the case with Monero or Zcash, for example.

Proof-of-Stake (PoS): like ADA and Tezos. For the network to work, tokens must be held and blocked (Staking) to participate in the validation of the network data, this is the Proof-of-Stake. The rewards are mainly tokens with a percentage amount.

What’s the purpose of CHSB?

For CHSB, it’s an ERC-20 token and runs on Etherum network. At the moment Etherum runs in PoW but soon in PoS with the release of ETH 2.0.

For the utility tokens, the fact of owning and staking them allows obtaining advantages: reduced prices, rewards, …

And Swissborg has been able to enhance the value of CHSB, by offering several uses for the holding of its token with :

The Meritocracy

Tokens holders can be rewarded with CHSB tokens for their involvement in the project :

Via the DAO: the community gets organized to promote Swissborg by carrying out missions. Discuss on forums, moderate social networks, make blogs, explain the project with videos, technical analysis, design of future goodies, …

Or by taking part in referendums to give its opinion on the decisions to be made. The last decision was to make an app’, the Wealth App’, instead of a website to access the management of your Swissborg account.

A game is also available, the Community App’, whose goal is to guess the price of bitcoin over the next 24 hours. With this game, you can earn some CHSB tokens.

The Premium Account

The real game-changer of the utilities of the Swissborg token is to be premium by staking CHSB tokens.

This brings a real plus and enhances the other utilities. But first of all, the advantage of becoming premium allows you to benefit from 0% fees on the purchase/sale of BTC, CHSB, PAXGold, USDC, DAI and from 0,25–0,5% on the other tokens listed on the application.

To become premium, you need to stake 50'000 CHSB (about 3500$ at the time of writing this article) and block them for 1 year. After one year, you have to maintain this level of tokens to stay premium but they are accessible again.

The Protect & Burn

The protect & Burn allows to reduce the supply to create rarity of the token.

Binance’s BNB token performs this action cyclically without taking into account what happens at time T.

What Swissborg has added to this action is to do it at key moments to protect the price of the token. They buy back tokens in larger or smaller quantities to withdraw them in order to avoid sudden price drops. This allows investors to have a certain guarantee on the value of the token they have in their possession.

The Yield Farming

The CHSB’s latest utility, the yield farming!

Like saving in the bank, make your investments work without doing anything, Swissborg does it for you.

SwissBorg has created a Smart Yield account that automatically scans the market to connect you to a range of DeFi and CeFi programs to find the best return for the lowest risk. They also mitigate the risks associated with yield farming with a safety net program where they set aside 25% of all earned income to offset the risk associated with smart contracts.

First available, very soon, with the stablecoin USDC that will allow a return of up to 20% APY for premium members. It will be possible to do yield farming with BTC, ETH, DAI, … in a second step.

Ready to get started? Sign up to be notified as soon as their Smart Yield accounts launch!

Note that Swissborg’s Wealth App’ allows the use of 18 different FIATS currencies and currently 12 Cryptos are available.

DAO

The SwissBorg DAO (decentralised autonomous organization) is a work & skill-sharing platform where SwissBorg rewards the engaged members of our community in return for their valuable feedback and contributions. The Swissborg DAO is today moderating the Telegram Channels, hosting AMAs, writing Token Analysis reports, translating articles, producing Tutorials and more. Join today the 250+ like-minded members of the SwissBorg DAO.

About the author

My name is Philippe alias Cryptophil, passionate about cryptocurrencies, poker, cooking, motorcycling and apprentice investor. I love to share my passions and actively participate in projects. Members of a service club.

The Wealth App offers one of the best experiences for buying crypto signing-up offers you a chance to win up to $100 in Bitcoin with my link: https://join.swissborg.com/r/philipNTYT