SwissBorg ICO started just last week on December 7, though has already reached new heights amidst a surge in popularity. The project has already managed to raise over $10 million in the first 12 hours and has successfully passed a soft cap of $5 million – tokens are available for purchase at the price of $0.1 per 1 CHSB token.
Inspired by the open-source philosophy, SwissBorg is leveraging on a new type of open protocol utility: “proof of meritocracy” aiming to revolutionize the wealth management industry. A core feature of the CHSB Token is giving holders the ability to choose the direction in which the network will develop. The CHSB token is used to generate a Referendum token, called the “RSB token”.
For each DAO’s direction, the RSB token is used by the holders to make decisions on the referendum proposals. The voting power will be calculated based on the amount of CHSB tokens each user holds when the referendum announcement is made. The type of reward will depend on the Referendum. ETH, CHSB or ERC-20 Tokens can be offered during Referendums. More information regarding the project can be accessed by exploring the group’s white paper.
— SwissBorg (@swissborg) December 8, 2017
SwissBorg represents a decentralized wealth management platform based in Lausanne, Switzerland with a team in Japan and Canada. The project promotes community-centric values, where individuals, institutions and DAOs (Decentralized Autonomous Organizations) will benefit from a democratic, transparent, and trustworthy, investment platform.
The investment team is planning to actively manage crypto-wealth with best-of-breed technologies (blockchain & AI). The company is managed by an international team with 90+ years of cumulative experience between them, from the varied backgrounds of private banking, hedge-fund management, and algorithmic and quantitative trading all the way to Wall Street.