The CoinJanitor project is envisioned as a platform, which will offer a recycling solution to crypto coins that have lost their relevance in today’s market. It will be achieved by unlocking the value that is locked up in dead coins. This platform also wants to reduce dilution in the crypto markets by amalgamating communities of dead coins into the CoinJanitor Community.
The Vision of CoinJanitor Creators
Today, there are over 4500 digital coins in circulation. However, most of these coins have died out. These dead coins are a major challenge for the crypto community. This is because the market usually has to deal with value dilution. The reason for this is that these coins already have value locked up in them, but that value cannot be transferred into the markets.
Besides that, most of the value in the crypto market is found in a few coins that have a value of $1 billion or more. However, there are thousands of people out there that have coins with a market cap of $50,000 or less. The vision of CoinJanitor is to unlock and recycle these coins via the CoinJanitor token.
How they will achieve their Mission
To restore lost value, the platform will profile coins based on certain parameters. They will then utilize a community outreach program to work with communities of the dead coin via the CoinJanitor platform. These dead coins will then be exchanged for CoinJanitor tokens in a buy out. The blockchains of the dead coins will then be decommissioned and their coins burned.
Beneficiaries of this initiative
By creating value for dead coins, the first beneficiaries will be owners of the failed coins. They will get value for a dead coin and join a growing community. CoinJanitor users will also benefit. This is because this project is essentially creating a new economy, with an un-tapped source for network effect: dead coin communities.
The other major beneficiary will be the market. This is because they will be helping to unlock value locked up in the markets. This value can then be transferred to others in the community or elsewhere within the market.
Details of the ICO
The ICO will start on May 1, and it will end on May 31, 2018. There will be a million tokens, and half of these will be sold via the ICO. Other thirty percent of the total tokens will be held in reserve. Founders of the platform will get 10% of all tokens while partners get 5%. CoinJanitor is a simple project backed by a revolutionary idea.
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