For the first time in the history of our token, the CHSB, we have successfully completed a Protect & Burn.
We are, also, excited to reveal the improvement that we have made to the traditional buyback and burn mechanism.
From now on, we will buy back tokens on the exchanges when the market is bearish for the CHSB to protect the price while reducing the supply.
The traditional buy-back mechanism has a short-term reward incentive. This is because buy-backs are announced ahead of the event allowing speculators to buy the token before the buy-back takes place and then sell it at a higher price shortly after the buy-back takes place.
With Protect & Burn, we reward long-term CHSB holders by placing orders to buy-back and burn only when the price of the token is going down. In this way, we protect our token and, more importantly, our long-term token holders in alignment with our mission to promote innovation that rewards our loyal community members.
Every month, we will add 20% of the profits made on fees in the Wealth App to a reserve to protect the price of our token. When the price arrives in a bearish zone (the 20-day moving average is our indicator), we automatically place buy orders.
All purchased CHSBs are then burned in a transparent manner.
On the occasion of our first Protect & Burn, we’d like to introduce you to a new page on our website: CHSB Performance Overview.
On this page, you can consult key information about the Wealth App ecosystem and the utilities of the CHSB. In particular, you will have the opportunity to follow the transaction volume of the SwissBorg Wealth app, the number of CHSBs that are staked, the amounts to be burned and the transactions proving that these have been burned.
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