FEBRUARY 3, 2021
Earn a yield on CHSB, the heart of the SwissBorg ecosystem!
We are excited to announce that as of 28 January, 2021, you can now earn a yield on the SwissBorg token, CHSB!
Calculated based on the SwissBorg Community Index, the CHSB Yield Program wallet rewards all CHSB token holders who put their CHSB in the CHSB yield wallet in the app. For those who are already Premium users, a yield offers them a reward for any tokens they hold beyond the 50,000 they have staked. Meanwhile, those who have smaller balances will earn a yield that can help them go Premium at a faster rate.
In short, our yielding program makes earning a yield on your crypto accessible to all, and this added benefit of hodling CHSB is just one more factor contributing to it becoming one of the most valuable multi-utility tokens.
New to CHSB? Meet our token!
CHSB is our multi-utility ERC-20 token, and offers the five following utilities:
- The protect and burn mechanism: 20% of the revenues made on fees in the SwissBorg App are dedicated to protecting the price of our token. When the price enters a bearish zone, we automatically place buy orders. All purchased CHSBs are then burned in a transparent manner.
- Premium benefits: Lock CHSB within the SwissBorg app to get access to 0% fees on BTC, CHSB and stablecoins, as well as double the yield on all Smart Yield balances!
- Early access: Be the first to get access to new wealth management products in the app
- Voting: Participate in shaping the future of SwissBorg during our referendums
- Community rewards: Earn rewards through the SwissBorg DAO.
In 2020, CHSB rose by over 2,700%, hitting an all-time-high of $0.33 and reaching CoinMarketCap’s top 70 coins with a market cap of over $305 million, demonstrating that more investors are seeing the value in our token. With the ability to earn a yield added to this impressive list of utilities, the sky’s the limit!
Stay up to date with CHSB’s performance on our CHSB overview page.
How will the yield be calculated?
As we covered in our white paper on the Community Index, we will be calculating a weekly score based on key figures of the SwissBorg ecosystem. This score will be based on:
- SwissBorg App Volume Score: A combination of the volume generated from exchanges as well as the amount locked in different Smart Yield wallets (excluding the CHSB yield wallet).
- CHSB Token Score: Calculated based on trading volume on CoinMarketCap and the current price of CHSB.
- SwissBorg App Activity Score: A combination of new users joining the app, as well as the activity of new and existing users in the app. So the more you deposit, exchange, check your portfolio or read our asset analysis, the higher the score will be!
- Community App Score: This is calculated based on activity in the Community App.
- DAO & Social Media Engagement Score: These scores are based on the number of active members in the DAO and the engagement we get on Facebook, Twitter, LinkedIn and Instagram, so make sure you like, share and comment on our posts to boost the score.
As you can see, there are a number of elements of the score that are directly related to your activities. So, if you’d like to earn a higher yield, simply be more active in our apps, in the DAO and on our social media channels!
With this approach, we hope to link the growth and performance of the SwissBorg ecosystem with its community, as well as giving a sustainable income to our community based on the ecosystem’s growth.
How much can you earn?
The yield on CHSB will be calculated based on the weekly Community Index score, with different tiers for how many CHSB the community is holding in their yield wallets. As mentioned in our white paper, we will review these numbers quarterly, with the most recent review having taken place on April 20 2021.
Just like with our other yield wallets (currently we offer a yield on USDC, with BTC, ETH and BNB still to come), if you are a Genesis Premium user you will earn double the standard yield.
How can you go Premium? Simply buy 50,000 CHSB in the SwissBorg app, and then go to the Premium tab of the app to stake your CHSB for 12 months. Then you will benefit from 0% fees on BTC, CHSB and stablecoins, as well as a double yield.
How to activate your CHSB yield wallet
To activate your CHSB yield wallet, simply:
- Make sure you've got the latest version of the app - update in the App or Play Store.
- Exchange some of your assets for CHSB tokens in the SwissBorg app.
- In the Portfolio tab, tap on your CHSB balance.
- Scroll down to the Yield Wallet card and tap ‘Start Now’.
- Enter the amount you would like to deposit into your yield wallet and tap ‘Next’.
- Tap ‘Activate Account’.
Then you will start to earn a daily yield!
Download the SwissBorg app today to start earning
Disclaimer: The information contained in or provided from or through this article (the "Article") is not intended to be and does not constitute financial advice, trading advice, or any other type of advice. Neither SBorg SA nor its affiliates (“Entities”), make any representation or warranty or guarantee as to the completeness, accuracy, timeliness or suitability of any information contained within any part of the Article, nor to it being free from error. The Entities reserve the right to change any information contained in this Article without restriction or notice. The Entities do not accept any liability (whether in contract, tort or otherwise howsoever and whether or not they have been negligent) for any loss or damage (including, without limitation, loss of profit), which may arise directly or indirectly from use of or reliance on such information and/or from the Article.
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