Announced during the summer by cryptocurrency platform SwissBorg, the migration of its CHSB token to BORG has begun today. What you need to know
BORG, the new native token of the SwissBorg platform
Crypto exchange SwissBorg today began migrating CHSB to its new native token: BORG.
From this week and for a period of 5 days, CHSBs present on the platform can be converted to the new asset. This conversion must take place at a ratio of one to one, and the total quantity of BORG issued must amount to one billion minus all the CHSBs burned up to that point.
In addition, this new token should benefit from new functionalities compared to its predecessor, starting with a native multi-string presence:
“The BORG will be compatible with multiple channels from the outset. Support for multiple multi-chain technologies improves scalability and efficiency. This enhancement is expected to materialize in the fourth quarter of 2023. “
On the other hand, the platform intends to promote the adoption of its token through yield generated in particular from its decentralized finance business (DeFi), although details of how this will work do not appear to have been shared yet.
SwissBorg Premium members will see their benefits unchanged by this migration. At the time of writing, the CHSB, which is still active for the time being, was trading at just over $0.18 per unit, down 1.9% over the last 24 hours.
