Embracing DeFi: The CHSB to BORG Migration at SwissBorg

Exciting news! BORG has arrived at SwissBorg, and we have completed the monumental journey of migrating our native token, CHSB, to BORG. This migration isn't just a technological advancement; it's a strategic move designed to bring better access to DeFi for our community of app users. By leveraging innovation, employing rigorous security standards, and aligning with the core principles of decentralised finance, we are positioning ourselves to empower our community with enhanced DeFi opportunities. Here's everything you need to know about this groundbreaking migration:

What Does This Mean for You?

If you're holding CHSB within the SwissBorg app, you can sit back and relax. Every CHSB token in your portfolio, whether in Premiums, or vaults, has automatically been converted into BORG.

Got CHSB outside the app?

Can't download the app? No worries! We've developed a super-intuitive, on-chain migrator website to ensure that your CHSB to BORG transition is smooth. Check this page.

Unchanged Supply: 1B Minus what has already been burned

The migration of CHSB to BORG does not entail a change in the token's overall supply. Our total supply will remain at 1 billion tokens, minus any that have been burned, ensuring that the value and scarcity of the token remain consistent within our ecosystem.

1 CHSB = 1 BORG

The ratio between CHSB and BORG is 1:1, meaning that for every 1 CHSB token held, users have received 1 BORG token, ensuring the token's value remains the same.

OpenZeppelin ERC-20 Standard on Ethereum

Our BORG token is based on the OpenZeppelin ERC-20 standard on Ethereum, providing a robust and secure framework.

Multi-chain compatibility

BORG will be multi-chain compatible. By supporting multiple multi-chain technologies, we allow enhanced scalability and efficiency. This enhancement should become a reality between the end of Q4 2023 and Q1 2024.

Audit Completion: A Significant Progress

We're thrilled that the BORG smart contract successfully passed the Hacken audit, earning a perfect score of 10 out of 10. This demonstrates our commitment to rigorous security standards and readiness for migration. We extend our heartfelt appreciation to the Hacken team for their professionalism in validating our smart contract.

SwissBorg Premium Benefits Remain Unchanged

For our valued Premium members, we want to assure you that the CHSB to BORG migration will not affect your membership perks. All SwissBorg Premium benefits will remain unchanged, allowing you to continue enjoying the exclusive advantages that come with your membership. We appreciate your trust and commitment, and we remain dedicated to providing you with the high-quality services you've come to expect from SwissBorg. 

Conclusion

Our focus on transparency, security, and decentralisation continues to shape our vision for the future. With seamless transition mechanisms, a strong commitment to security, and an innovative approach to on-chain utility, we are poised to redefine the crypto landscape. The anticipation for late 2023 to early 2024 brings new opportunities for BORG holders, and we thank you for being a part of this thrilling endeavour. Together, we're building a future that's transparent, secure, and decentralised.