CoinJanitor will pay users of dead coins for their useless coins, to bring them back into the market.
Cryptocurrency markets are full of coins that have failed. These coins are functionally dead and cannot be traded. The holders of these coins are stuck, and the value left in these blockchains is locked. CoinJanitor is the first and only project so far that can change this situation. The project will buy dead coins from the people who got stuck with them, allowing them to recover some of the value they have trapped in those coins. The buy outs on the other hand will bring all those dead coin assets – users, code, data and marketing assets – under the CoinJanitor umbrella, where they will create a powerful network effect and serve to build new market analysis tools.
An Innovative Concept from Early Cryptocurrency Adopters
This innovative idea is the brain child of early cryptocurrency adopters, led by Marc Kenigsberg who has been a Bitcoin advocate from 2012. The idea is to use economic powers to achieve the project’s goals. Marc came up with the idea for CoinJanitor after a discussion about failed blockchain projects, in which he saw that despite the discussions about dead coins, there are no real solutions out there to clean them up, offer their users a way out and use the assets that they have. No one really knows what happens when a blockchain project dies or how it failed.
How Many Dead Coins are There?
Nevertheless, there are more dead coins in the market than successful ones. There are more than 4,500 coins in the market and more than 3,000 of these are dead. Many more are in the process of dying, even if they were once legitimate projects with interesting goals. The market is highly competitive and not all the ideas can stand on their own. These ideas and the assets that were developed to deploy them, can be recycled for the benefit of everyone.
CoinJanitor Recycles Anything that is Valuable
Therefore, there is a need in the market to recycle the elements that are valuable from those projects and to give the holders of those dead coins a way to come back into the markets. That is why CoinJanitor will use its economic power to buy dead coin projects out, integrate those users under the CoinJanitor umbrella and study all the code and data from those dead coin projects to see what can be created with them.
CoinJanitor Rewards Anyone Who Spreads the Word
If you are interested in this idea, you can get involved with the project at various levels. Anyone can claim the project’s bounties, that involve spreading the word about the project. This bounty program is unique and has the components necessary to help CoinJanitor start buying out dead coins immediately after the public sale is over. Here are the details about the CoinJanitor bounty program.
People interested in the project can also support it by contributing during the public sale. The JAN token which will be sold during the crowdfunding stage, was designed to become the only scarce resource that can buy out dead coins. This guarantees that there will be demand for the token from dead coin holders.
CoinJanitor will start cleaning up cryptocurrency markets as soon as the public sale is over, using its own JAN token reserve. CoinJanitor’s public sale will start on May 1st and it will end on May 31st. Buyers will be able to enjoy all the development that CoinJanitor will bring based on the code and the data that it will acquire while it cleans up dead coins.
If you are interested in this project, you can have a look at its website. CoinJanitor also has a Telegram group that people can join to ask its team questions. This Telegram group has more than 1,000 users now, which shows that the project has a budding community of followers. Anyone interested can also follow the project on Twitter and Facebook.
This is a press release. Trustnodes has not undertaken any verification of any of the above statements and any statement contained therein is not necessarily endorsed by Trustnodes. Readers are strongly urged to do your own research.