SwissBorg

SwissBorg traces its origin to Cyrus Fazel and Anthony Lesoismier, who framed conventional wealth management as expensive and closed to ordinary users. In 2017-2018 their ICO raised about $52 million from more than 23,000 participants. CHSB arrived before the service that would eventually give it daily utility. The original paper capped the event at CHF 50 million and specified 62.5% TGE, 20% team/advisers, 16.5% retained development and 1% bounty. The later $52 million retrospective uses a different currency and figure.

The app launched in March 2020 with fiat access and a Smart Engine routing orders across connected venues. Later releases added Earn strategies, thematic bundles, early-stage deals and portfolio services. Users gained one interface, but execution, custody and yield still depended on SwissBorg entities and external providers.

On 17 October 2023 SwissBorg replaced CHSB contract 0xba9d4199faB4f26eFE3551D490E3821486f135Ba with BORG contract 0x64d0f55Cd8C7133a9D7102b13987235F486F2224. One whole CHSB yielded one whole BORG. Under the hood, the migrator multiplied by 10^10 because CHSB used eight decimals and BORG uses eighteen.

The replacement token deliberately narrowed contract-level administration. Its source has no privileged role or upgrade proxy, and the initial amount excluded CHSB previously sent to the zero address. ERC20Burnable lets a holder destroy their own balance; ERC20Permit supports signed approvals; ERC20Votes records delegated historical voting weight. None of those extensions forces a company decision. The constructor minted 985,304,868.442 BORG; by the 5 September 2026 review, holder burns had reduced Ethereum supply to 981,352,443.442. The MiCA paper publishes a maximum of 981,853,000 and CoinGecko publishes 1 billion. Their publication dates and definitions need comparison; the lower observed Ethereum supply does not itself contradict either maximum or prove a bridge-accounting deficit.

Migration control stayed outside the BORG token. Proxy 0xaA854688caAB725fe17b7D21b46fDA5AF365985a can be upgraded by owner 0xAC15982Ca8A8e8BAc738FE492b84D8761B4384a3, documented as a 5-of-7 ecosystem multisig. Manager 0x259c444b50e3Ab173c4f850BB40d85A9EA0230F3, documented as 3-of-5, can pause and resume conversions. A safe reading separates the fixed asset from the changeable doorway that exchanges the old asset for it. Both automated in-app and self-service migration ended at 09:00 CEST on 29 April 2026. The notice directs remaining CHSB holders to support to discuss their situation, not to a guaranteed conversion service. Separately, the V2 proxy was observed returning MIGRATION_CLOSED on 5 September 2026; this observation does not date the implementation’s state change. The portal-participant agreement, clause 3.4, says BORG remaining in the new contract corresponding to unmigrated CHSB (Unmigrated BORG) remains company property and states a waiver of rights against the company in respect of that BORG. It does not establish that every holder waived every independent claim.

BORG reached Solana in 2024 at mint 3dQTr7ror2QPKQ3GbBCokJUmjErGg8kTJzdnYjNfvi3Z. SwissBorg publishes bridge managers, owners and proxy components on both chains. Multichain availability improves mobility, but circulating supply must account for locking and minting across the bridge; adding each chain's displayed supply can double-count the same economic units. On Solana, mint authority remains active at the NTT bridge PDA and metadata remains administered. “Immutable Ethereum token” therefore does not describe the entire multichain system.

SwissBorg's token programs changed repeatedly. Current Loyalty Ranks replaced Premium and Borger Journey, counting locked BORG toward cashback, selected deals, Earn boosts and governance rewards. A user can unlock, but loses voting power and benefits during the applicable cooldown. These are product rules, not immutable ERC-20 rights. Current program terms call rewards discretionary gifts rather than interest and let SwissBorg alter tiers, thresholds and benefits.

The current voting formula grants one Voting Power for each 10 locked BORG, with Guardians rewards after quarterly sessions. The token contains vote checkpoints, yet the reviewed rules do not state that every app poll automatically binds SBorg SA's board or BlockNodes's regulated duties. Consultation and corporate control remain different layers. Guardians is expressly advisory and non-binding and may be discontinued.

Earn is another separation. The app routes selected assets into third-party protocols or staking arrangements and displays estimated, variable APY. BORG locking may boost a rate; BORG itself does not guarantee interest, principal or protocol performance.

On 5 March 2026 France's AMF authorised BlockNodes SAS under MiCA for custody, execution, placing, advice, portfolio management and transfers. SwissBorg's disclosures say SBorg SA owns the app and issued BORG, while BlockNodes operates covered services. Regulation attaches to specified activities and entities, not to every market claim around BORG.

The group also discloses that some SBorg shareholders and directors hold BORG and overlap with BlockNodes. That candour matters because product changes can affect a token they own. It does not give outside token holders the same shares, board duties or remedies.

A BORG holder's direct on-chain rights are transfer, self-custody, delegation and voluntary burning. App benefits exist only for eligible accounts under current terms. No reviewed instrument grants dividends, company equity, reserve redemption or ownership of segregated customer assets. The migration modernised the token; it did not turn customers into shareholders.