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It goes without saying that one of if not the most important aspect of this industry is that of trust. After all, cryptocurrencies are extremely volatile and unpredictable digital assets that have been known to provide enormous profits as well as massive losses.
However, it is usually the seemingly irrecoverable losses that everyone thinks of whenever there is a bear market such as the one in which the world currently finds itself. During such times, trust, safety and reliability become more important than anything else and that is exactly what SwissBorg aims to provide above all else.
Naturally, before anyone can feel comfortable enough to rely on any given project, they would normally need to find out everything there is to know about it beforehand. In a nutshell, Swissborg consists of a group of finance as well as technology specialists who are collectively committed to democratizing wealth management by making it fun, fair, transparent and community-focused.
When it comes to SwissBorg, the goal is to deliver the best investing experience, with the values of purpose over profit, impartial inclusivity, empowerment instead of control, innovation, meritocracy, and full transparency.
Most recently, in an effort to prove that safety continues to be a top priority, it was revealed that SwissBorg’s risk management team agreed to keep two-thirds of the organization’s assets in fiat and stablecoins, mitigating the risks associated with volatility in various other cryptocurrency assets. The remaining one-third of the treasury is held in crypto, with the majority invested in top-10 tokens with solid fundamentals such as Bitcoin (BTC) and Ethereum (ETH).
But is SwissBorg safe?
Of course, due to the current state of the market and the recent TerraUSD (UST) disaster, investors are understably hesitant to trust anyone these days. SwissBorg realizes that now is the time to instill confidence in investors and that is why the app seamlessly combines the best of centralized finance (CeFi) and decentralized finance (DeFi). In addition to financial stability, the ‘Virtual Currency License’ makes it compulsory for SwissBorg to keep all user funds completely separate from corporate funds no matter what. This means that the users’ funds shall always be fully redeemable in the unlikely event of a hack, or scam or bankruptcy.
Moreover, SwissBorg has partnered up with one of the world’s biggest custody providers, Fireblocks, to secure users’ assets and personal data using MPC keyless technology alongside advanced cryptography. In 2021, the SwissBorg app also passed a penetration test which was conducted by trusted whitehat hackers with flying colors. Also, because SwissBorg’s practices are based on both CeFi and DeFi, it is widely regarded as a very safe cryptocurrency application for the purposes of yielding, trading and storing digital assets.
What else is there to know about SwissBorg?
Once again, it is important to remember that the most important thing for SwissBorg is dependability, safety and transparency. Although the SwissBorg team supports numerous altcoins, the team also has the obligation to not only protect users’ assets, but to additionally preserve the app’s services and features. To that end, maintaining the treasury in what are widely considered to be ‘lower-risk’ cryptocurrencies ensures that SwissBorg can achieve its goals. Due to this, SwissBorg avoided any exposure to UST thanks to robust risk management strategies and reliable budgeting practices.
There are also the ‘$CHSB‘ tokens in addition to the treasury. These tokens are primarily used to finance CHSB Yield 2.0 and to reward the team, but they also serve as a rainy-day fund if necessary. Furthermore, while the value of SwissBorg’s treasury has indeed declined during the ongoing bear market, the team still possesses the assets needed to weather the storm.
Finally, SwissBorg has also put contingency plans in place for the unlikely scenario that the bear market keeps continuing. The moral of the story is, SwissBorg aims to embed confidence and trust into crypto investors once again and remind everyone that things always worsen before they eventually improve.
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.