In this article I will go into detail about an ICO I recently discovered called CoinJanitor. The main purpose of this project is to restore lost value back into the crypto economy.

In recent years it has become easier for any individual to create their own cryptocurrency. However, most of these projects fail because of a lack of interest from the crypto community or simply because the developers gave up on the project.

CoinJanitor aims to restore value back into failed projects by taking over those projects. They plan on doing this by enabling users who are in possession of any tokens from failed project to exchange those tokens for CoinJanitor (JAN) tokens. CoinJanitor will then proceed to burning all deadtokens acquired from users thus unlocking any value trapped in those failed projects.

Users will be able to exchange their CoinJanitor (JAN) tokens for Bitcoin or any other leading cryptocurrencies. It's important to remember that deadtokens will only be eligible for a swap if the CoinJanitor team has the cooperation and support of the failed project owners and communities.

There are a minimum of 4,500 different cryptocurrencies which we know off. The CoinJanitor team has created a set of criteria when profiling projects in order to determine its status. Here are some of the parameters they focus on:

Inception date

Exchange listing status

Trade volume

Hashrate

Distribution of wallet addresses

Social activity

Forum activity

Development commits

And others

The team has also derived 5 conditions that will serve as a guide to identify any failed projects. Coins will only be considered for buy-out once all 5 conditions are met:

Market cap under $50,000 USD

Proof of Work (PoW) coin.

NOT be listed on any exchange.

It should be at least 2 years old.

The owners should be contactable.

The owner and community must be willing to cooperate with CoinJanitor.

The CoinJanitor team has a goal off decommission at least 3 failed projects within the first 2 months of operations. The reason for this is to prove to the crypto community that CoinJanitor (JAN) is a viable project and that the team can deliver on their promises. They plan on achieving this by working simultaneously with any projects they consider to have failed - projects identified based on the 5 conditions mentioned above.

Any failed projects decommissioned during the first leg of the CoinJanitor project will enjoy higher rewards as compared to failed projects decommissioned after several successful decommissionings by the CoinJanitor team. The value of the CoinJanitor (JAN) token should also increase overtime due to its deflationary nature and increasing community - absorbing communities from failed projects into their own community.

Investors will be able to use a variety of currencies to purchase CoinJanitor (JAN) tokens during the ICO. These currencies include: BTC, BCH, BTG, XMR, ETH, LTC and USD. This is to ensure the entire crypto community can participate in the ICO and not only BTC and ETH holders.

For more information, visit the CoinJanitor website: CoinJanitor – Restoring lost value to cryptocurrency or you can leave a comment if you have anything to add to the discussion.

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