SwissBorg raises CHF11 million in three days

SwissBorg’s team has announced that the soft cap of 5 Million USD has been successfully achieved. Three days after the ICO’s launch, 11Million CHF has been raised. A significant portion of this amount came through pre-sale agreements with strategic investors — venture funds, banks, and Swiss UHNWI. Despite the significant amount raised, the subscription process was negatively affected by factors such as network congestion, the rising price of Bitcoins. Therefore, the ICO was extended until January 10th.

SwissBorg’s objective is to become the first Crypto Wealth Management project based on the Blockchain technology. Its community-centric approach aims to revolutionise investment in cryptocurrencies. During the ICO investors will have the opportunity to receive CHSB Tokens. A core feature of the CHSB Token is giving holders the ability to choose the direction in which the network will be developed. The CHSB token is used to generate a referendum token, called the “RSB token”. For each decision, the RSB token is used by the holders to make decisions on the referendum proposals. The voting power will be weighted based on the amount of CHSB tokens users hold at the time of the referendum announcement and it will not cost any CHSB tokens to vote. The holder will be rewarded for participating in the referendum. The type reward will depend on the type of referendum. ETH, CHSB or ERC-20 Tokens can be offered.

In 2018, the SwissBorg team plans to launch the Cryptallion token Hedge Fund, an Absolute Return Hedge Fund aiming to provide a higher level of investment safety and capital preservation by investing in a diversified set of strategies and frequently hedging market risk. Whereas most token Funds focus on long only strategies such as ICO investing or top cryptos, which have a high level of risk if the cryptocurrency market falls, Cryptallion aims to be materially hedged most of the time to limit the risks from falling markets and instead benefit from a diversified number of sophisticated investment strategies.

(SK)

Picture Fotolia.com / momias