Today we are taking a look at a quite unique project. CoinJanitor are working on a way to reclaim lost or trapped value in cryptocurrencies that are no longer supported or being developed. Coinjanitor has identified more than 1000 coins or tokens that are essentially dead. Coinjanitor aim to restore lost value to the community, and convert these worthless coins or tokens into CoinJanitor tokens, which can then be used to buy Bitcoin etc.
CoinJanitor are aiming to restore value to coins and tokens that a now deemed worthless. They state on their site
CoinJanitor aims to solve these problems by unlocking trapped value in these projects and at the same time create the much-needed public discussion of how best to recycle value from failed projects in the future. CoinJanitor will achieve this by taking over failed projects. To do this we will exchange CoinJanitor tokens (JAN) for the delisted coins that users hold. We will then proceed to burn those tokens and coins that we acquire. Through this mechanism, value will be restored to individual users who can sell or trade their CoinJanitor tokens, and to the community at large by the recycling of codebases and project assets back into the community.
Once they have identified a viable canditate project, they contact the owner and community and offer to take over the project. All users are then given the opportunity to swap their worthless tokens for CoinJanitor tokens. Any development code that has potential or value, will then be offered to the community as open source. As the community grows, so too will the value of the token and the ability to unlock even more trapped value. THey are utilizing the Ethereum platfrom to create this project which means CoinJanitor tokens (JAN) are an ERC20 token.
So CoinJanitor is basically a community based project and service. It will only be successful and survive if people get behind the project and believe in reclaiming the lost value in this dead projects.
Total tokens supply: 100,000,000
Hard Cap: 7,500,000 USD
ICO Date: May 1st to May 31st
Token Price: 16 cents
So if we look at the roadmap, we can see these guys are progressing quickly with the first token swaps due after the ICO and the State of the Market report due in Q4. This shoud really give us some insight into what we can expect this project to achieve over the next 12 months.
Mention here, distribution of tokens.
CoinJanitor,according to their website, have all ready made their deals with some exchanges:
As soon as the public sale is over we will list our token on the exchanges we have struck a deal with already.
They we are giving away 2.5 Million JAN tokens for spreading the word about CoinJanitor! So you can grab some free tokens if you want to get involved in that.
So that’s the vision for CoinJanitor. Now this isn’t a completely new concept. Business buy out businesses all the time, but its a new concept in cryptocurrencies and I really hope the community gets behind them and its a success. There are 4 main groups of people who will benefit from the CoinJanitor project.
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US citizens and residents are not allowed to contribute to the CoinJanitor ICO, but to find out more about the project you can check them out here: