Idea & Token
For this moment, there are 4,500+ different cryptocurrencies, only 1,400 of them are traded on exchanges, the rest are functionally dead. The crypto assets invested into the dead tokens are now trapped and cannot be transacted or traded. This a problem for cryptocurrency markets as well, because they suffer from the decrease of capital, resources, and reputation. CoinJanitor is aiming to exchange the dead tokens for its native Janitor (JAN) token. The received dead tokens will be burned. As a result, the lost value will increase, and the owners of JAN will be able to sell or exchange them for other cryptocurrencies. This way CoinJanitor is going to contribute to the network effect by uniting the fragmented communities and reusing the spent funds by reinvesting them into future projects. In addition, CoinJanitor will create its own network, a community of loyal users working together and therefore restoring the value of the crypto market.
Their utility token called JAN will be a deflationary asset pushing the prices up and creating comfortable terms for CoinJanitor to buy out subsequent failed projects. So the earlier user will buy JAN, the more benefit they will get, as JAN becomes more and more expensive. As CoinJanitor will buy out new projects, the interest to the project will grow engaging new user to the community. CoinJanitor plans to buy out 3 dead coins for the first 2 months.
A total supply is 100 million tokens. The distribution is as follows: 50% – sale, 30% – fund for purchasing dead coins, 10% – team, 5% – partners, 5% – bounty.
According to whitepaper, the unsold tokens will be airdropped to contributors.