Coin Janitor | Restoring Lost Value in Crypto

ansteadm(41)

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Coin Janitor ICO

What is Coin Janitor?

Coin Janitor is one of the more unique cryptocurrency projects I have come across, and they are planning to essentially bring value back into your cryptocurrencies which have lost value. This has happened because either developers just abandoned the project, or the community just has little to no backing. Just in 2017, almost 46% of all the ICOs that were launched failed (https://www.marketwatch.com/story/nearly-half-of-all-2017-icos-have-failed-2018-02-26)! Coin Janitor is here to now bring value into some of these lost projects by "sweeping" up those in the community and buying out their tokens, Github repo, and unlock the value from their blockchain!

The Team

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The team behind Coin Janitor's project is definitely one of the more unique and interesting ones that I have come across. If you take a closer look, they don't have any advisors on their board. I looked into why they might have done this, and found out that a plethora of different people applied to be put onto their advisory board, but their CEO, Marc Kenigsberg, decided that they don't need them. Mr. Kenigsberg has a well-known history in cryptocurrency, as he has been invested in Bitcoin and involved in blockchain since 2013! He founded the organization, Blocksmarter, where he was the CEO, and he also started up BitcoinChaser. Having him at the reigns of Coin Janitor definitely puts them in great hands!!

The Problem

Over the last few years, we have seen cryptocurrency as a whole exponentially explode! With this massive growth, we have had a lot of successful projects, but unfortunately, we have seen an even greater number of failed projects.

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The amount of projects that are out there compared to the amount of tokens is extremely skewed. As we go into the smaller cryptocurrency projects (ones with a market cap under $50k), there are more total coins than in the rest of the entire crypto marketplace!! These projects make the crypto marketplace somewhat unhealthy, and they need to be cleaned up!

The Solution

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Coin Janitor is here to clean up this huge mess in the cryptocurrency market! So how exactly does Coin Janitor plan to "sweep up" these unnecessary cryptocurrency communities and projects? To put it into a short terms, they essentially buy-out these coin communities, the Github repos, and burn the tokens. There are actually multiple different aspects that the Coin Janitor team needs to look at when conducting these steps. They have to look at how strong the community is, whether it's united or split, and the consensus of the coin's community to conduct this approach.

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Coin Janitor needs to receive a consensus from the entire coin's community, the developers, marketers, users, creators, as well as its followers that they want to conduct this process. Some of the requirements that take into affect for this process is that the coin needs to be over 2 years old to be considered "failed" or "dead" to have them be integrated into the Coin Janitor project. The coins that Coin Janitor "sweeps up" will have economic value as the whole community will be immediately brought into the Coin Janitor ecosystem. They will use their own token, JAN, to buyout the various failed crypto communities, and the earlier that they are bought out the better it will end up being for them economically. The more that Coin Janitor buys out these cryptos, the more their token will increase in value, making it a greater incentive to get involved sooner than later!

The Token

The Coin Janitor ecosystem is built off of their ERC-20 token, JAN. The token has a total supply of 100,000,000, and in their ICO, they have set a hard-cap of $7,500,000 for their project.

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