A Swiss blockchain company SwissBorg, located in Lausanne, has just started its ICO campaign. In the first day of token sale, it managed to raise 11 million dollars.
Apart from Switzerland, the project’s teams of developers are present also in Canada and Japan. The project promotes community-oriented values, where people, institutions, and DAO (decentralized autonomous organizations) can benefit from the democratic, transparent and reliable investment platform. The developers note:
SwissBorg is revolutionizing wealth management services with a community-centric approach powered by blockchain technology. We are a wealthtech DAO made in Switzerland decentralized to the world.
The aim of SwissBorg is the development of CyberWealthManagementPlatform (cyber-platform for asset management), using the community-oriented approach. Meritocracy and collective intelligence will be the center of the SwissBorg ecosystem. It will assure the providing of investment services in the best interests of the community and make a revolution in the sphere of wealth management.
The ICO has started on December, 7 and will last until January, 10. In the first day, 11 million dollars were gathered, which is twice the minimal amount needed for the project development. The price of tokens during the ICO is $0.1 for 1 CHSB token. The company aims at attracting 50 million of Swiss francs, equivalent to 50.4 million dollars. At the moment, the ICO is half-finished. The overall amount of tokens is 1 billion.
A significant feature of CHSB is that it allows its owner to choose the direction in which, in his opinion, the network should be developing. This token will be used for generation of another token – RSB (Referendum), which actually will provide a user with a possibility to take part in referendums and offers. The priority of the vote will depend on the number of CHSB on the user’s account. The type of rewards will depend on the referendum. ETH, CHSB, or ERC-20 tokens can be used during the voting.
The company SwissBorg is governed by the international team that has experience in various forms of private banking, hedge funds management, algorithmic and quantitative trading on Wall Street.