Idea & Token
For this moment, there are 4,500+ different cryptocurrencies, only 1,400 of them are traded on exchanges, the rest are functionally dead. The crypto assets invested into the dead tokens are now trapped and cannot be transacted or traded. This a problem for cryptocurrency markets as well, because they suffer from the decrease of capital, resources, and reputation. CoinJanitor is aiming to exchange the dead tokens for its native Janitor (JAN) token. The received dead tokens will be burned. As a result, the lost value will increase, and the owners of JAN will be able to sell or exchange them for other cryptocurrencies. This way CoinJanitor is going to contribute to the network effect by uniting the fragmented communities and reusing the spent funds by reinvesting them into future projects. In addition, CoinJanitor will create its own network, a community of loyal users working together and therefore restoring the value of the crypto market.
Their utility token called JAN will be a deflationary asset pushing the prices up and creating comfortable terms for CoinJanitor to buy out subsequent failed projects. So the earlier user will buy JAN, the more benefit they will get, as JAN becomes more and more expensive. As CoinJanitor will buy out new projects, the interest to the project will grow engaging new user to the community. CoinJanitor plans to buy out 3 dead coins for the first 2 months.
A total supply is 100 million tokens. The distribution is as follows: 50% – sale, 30% – fund for purchasing dead coins, 10% – team, 5% – partners, 5% – bounty.
According to whitepaper, the unsold tokens will be airdropped to contributors.
The team consists of only 6 members, but looks very professional. The company CEO Marc Kenigsberg has 18 years of experience in online marketing, has been an active participant of crypto world since 2013. He’s the founder of BlockSmarter and Bitcoin Chaser, a notable ICO advisor, and regular speaker at multiple crypto conferences around the world. The team has also experienced professionals in software development, startup management, blockchain, marketing, and analytics. They also have 14 project supporters, all top professionals from the crypto world.
The idea to clean up the crypto industry is noble and pretty logical. We have no doubts the owners of dead tokens will be enthusiastic about the opportunity to convert their tokens into something valuable. The team has developed a detailed plan, roadmap, and whitepaper describing all their steps. Add here a simple fact that CoinJanitor is the only project of this kind, and you will see how bright the future of the project is. The long-term perspective looks especially positive.
An excellent idea of making the crypto industry healthier by buying out dead or failed tokens can restore the lost investments to the token owners and the value to the market itself.
CoinJanitor ICO datesexport to calend
There are 4 main groups of people who will benefit from the CoinJanitor project. People may belong to more than one of these groups simultaneously, which means they will enjoy the benefits on every group they might be in. The following are the groups of people who will benefit from the CoinJanitor project and how they will benefit:
Users of Failed Coins: They will benefit from the opportunity to get value back from coins that cannot be sold. They will also benefit from joining a community that will grow exponentially as CoinJanitor continues to amalgamate communities of other failed coins that are otherwise cut-off from the markets.
CoinJanitor Users: They will benefit from the creation of a new economy that wouldn’t exist otherwise. This economy is based on unlocking value trapped in failed coins and achieving a network effect by amalgamating the communities of these failed coins into a single one.
The Market: Cryptocurrency markets will benefit from 2 positive externalities that the CoinJanitor project will produce: the reduction of dilution in the markets through the decommissioning of blockchains that trap value, and the ability of CoinJanitor to become a vehicle through which the trapped value can be transferred elsewhere in the market.
Project Creators: They will benefit from creating an unprecedented project in the space, opening a debate that cryptocurrency enthusiasts should have about the best way to deal with failed coins, and the privilege of leading a newly created community with the development of more tools that will be useful to cryptocurrency enthusiasts and markets across the board.