With more than 4,500 cryptocurrencies in circulation, there are bound to be many that are functionally dead. This presents many challenges for cryptocurrency markets, as well as for the users of those currencies. Those users have their money locked in a network that doesn’t allow them to transact, or a currency that is not tradeable. Cryptocurrency markets on the other hand, suffer from dilution of resources and reputational issues due to the sheer number of unusable coins. CoinJanitor aims to solve these problems by unlocking trapped value in these projects and at the same time create the much-needed public discussion of how best to recycle value from failed projects in the future. CoinJanitor will achieve this by taking over failed projects. To do this we will exchange CoinJanitor tokens (JAN) for the delisted coins that users hold. We will then proceed to burn those tokens and coins that we acquire. Through this mechanism, value will be restored to individual users who can sell or trade their CoinJanitor tokens, and to the community at large by the recycling of codebases and project assets back into the community. By reducing resource dilution in the market CoinJanitor will contribute to the network effect of functional coins, more effectively leverage fragmented communities and implement a mechanism for the recycling of spent resources back into future projects. As a result, CoinJanitor will also benefit from network effect and create a highly engaged, loyal community of coin holders working towards the improvement of utility and value in the crypto economy.
Rated on 4 Apr 2018
Rated on 7 Apr 2018
Rated on 10 Apr 2018
The fund of distressed crypto assets. Great vision! Good luck!
Rated on 13 Apr 2018
Finally, a vision like this. Please make this work.
Rated on 7 May 2018
I like this as a concept , cap is sensible and I really like that they have no advisors. I much prefer this than a ICO that has a shopping list of 10 or 12.
There is a real need for something like this and think it could get valuable over time
Thanks for the support.
Rated on 4 May 2018
In my opinion, I think adding a few advisors is ideal. I've read the reasoning of why CoinJanitor feels they do not need any advisors, but I feel that having external members is important in my view, and is used in even mega cap corporations.
I do like that they have 'supporters', and the names associated with this project. I can see the myriad uses and visions that could come from this concept and I like it. Am interested to see this project mature.
*Please see my profile for disclosures.
Rated on 14 May 2018
Rated on 18 Apr 2018
This is a really smart concept and it's about time many contributors are given an exit opportunity for their previous investments. I hope that an MVP or POC will be available to view and test. Trading is a great way to realise value generally and this type of methodology will be a game-changer. I'll be watching progress closely - all the best!
Rated on 16 Mar 2018
Just support this project as I intend to.
The community needs it.
Rated on 6 May 2018
Unique project. Nice community spin.
Vision / Product
There does seem to be real potential here to focus the energy that has already been expended on these projects from multiple development teams and communities. There are multiple avenues to extract the value here from acquiring the Intellectual property of these failed efforts, reviving worthwhile efforts that may have failed due to lack of execution, or at minimum focusing the attention of the abandoned community on new efforts.
I like that there is a clear need for the bridge token in this use case.
Facets to explore:
- Chasing the low end market of coins with a market cap of < $50k would tend to suggest a lower value of assets associated with the coin. There is a risk of collecting the “Land of misfit tokens”, that could be difficult to extract the value out of. The target market at least well covered in the white paper, .
- Cash flow projections for year one seem conservative-to-low having to carry this level of management team.
- The fund raising level respective to this cashflow plan also seems to be very dependent on the value increase of the cryptocurrency market as a whole specifically relative to BTC and ETH. In a flat to down scenario for BTC and ETH this project would require another ICO round, or a significantly reduced budget for OPEX and asset acquisition.
- Very experienced team
- CEO has a long and complimentary history of relationships in the industry
- Team has a diverse set of skills and business experience that can be leveraged for different aspects necessary to make this business successful
Facets to explore:
- Most of the executive team has multiple companies they are actively involved with, which is concerning regarding their ability to focus. I’d like to see a plan of commitment to the project from the management team post ICO, and how they plan to manage the other commitments.
Notice: I do not provide investment advice. Please see my profile for important disclosures.
Your words are much appreciated.
Rated on 15 May 2018
It's an interesting idea to take care of the coin cemetery. It has a similar purpose like bancor and it will be interesting to see whether they can fulfill their obligations. Also, has a lot of social responsibility value for the space and will try to unlock dead capital.
Rated on 16 Mar 2018
Experts are independently and voluntarily contributing to the community. If no expert has rated the ICO, only ICO analyzer's results are used. Always research before investing as these ratings should not be taken as an investing guide of any kind.
Ratings and ICO analyzer results are being updated (re-calculated) every few hours.
TeamApply as an advisor
Criteria and methodology development and initial coin research.
Development of proprietary profiling systems.
Identification of preliminary candidate coins.
First token swaps.
Release of API into CoinJanitor market date.
First state of the market report on all coins.
CoinJanitor phase 2 TBA.