CoinJanitor is a platform that offers a recycling solution to dead cryptocurrencies, by unlocking the value trapped in functionally dead coins. The platform also seeks to reduce dilution in the markets through the amalgamation of dead coins communities into the CoinJanitor platform.

What CoinJanitor Hopes To Achieve

More than 4,500 cryptocurrencies are in circulation today. However, most of them are dead coins. The dead coins pose a challenge to the cryptocurrency market, as the market has to deal with value dilution while the owners of the coins have the value of the coins trapped in digital currencies that are not accepted in the market. Additionally, most cryptocurrency wealth is concentrated on coins with a market cap of $1 billion and above, and yet thousands of users have coins with a market cap of $50,000 or lower. The CoinJanitor platform hopes to welcome and recycle all these coins via the use of the CoinJanitor token. The steps below will be followed to achieve this goal:

  • Analyzing and profiling the dead coins using a set of designed parameters
  • Use of community outreach to work together with dead coins communities in the coinJanitor platform
  • The dead coins will be exchanged with the CoinJanitor tokens to amalgamate the dead coins on the CoinJanitor platform and allow the users to transfer the value of these coins to the market
  • Burning the bought coins and decommissioning the blockchains of the dead coins with the consent of the creators and the dead coins communities
  • Organizing the code and data from the projects that CoinJanitor buys out in open source markets and developing new tools for the cryptocurrency communities.

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The beneficiaries of the CoinJanitor project include:

Owners Of Failed Coins

The users will benefit, as they will get value from their dead coins. Another benefit is that they will join a community that is set to grow exponentially as CoinJanitor continues to grow and add new communities of other failed coins that cannot be sold on the market.

CoinJanitor Users

The users will benefit from the creation of a new economy. The economy will unlock the value trapped in dead coins and achieve a wide network of other communities with dead coins.

The Cryptocurrency Market

The market will benefit due to dilution of the market by the decommissioning of blockchains that trap value of the dead coins. Additionally, CoinJanitor will be a vehicle that will transfer the trapped value of the coins elsewhere.

Project Creators

The creators will open a space where a debate on what is the best way to deal with dead coins will be ongoing. The creators will also bring together, lead a community, and come up with better tools that will be useful to the cryptocurrency market.

CoinJanitor Token ICO Details

The ICO date for the token will start on 2nd April and end on 2nd May 2018. The total number of tokens will be 1 million and 50% of these tokens will be sold to the public. The total number of reserved tokens will be 30% of the million. The founders and partners of the platform will get 10% and 5% of the tokens respectively.

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