ICO Analysis: CoinJanitor

There are more than 4,500 crypto assets of some sort in circulation.

Yet many of them are functionally dead. This is problematic for both the owners of these dead tokens and the cryptocurrency markets at large.

For the owners of the dead coins, the issue is that they cannot recover the value locked in either a token and/or network that doesn’t allow them to trade for anything else.

Meanwhile, cryptocurrency markets themselves suffer from the dilution of capital, resources and reputation issues due to the sheer number of unusable coins.

CoinJanitor aims to solve these issues by taking over failed projects and exchanging the associated failed tokens with that of its native Janitor token (JAN).

Their plan is to burn all failed project tokens they receive. Through this approach, they posit that value will be restored to individual users who can then sell or trade their CoinJanitor tokens for other cryptocurrencies.

An additional benefit will also come to the community via the recycling of codebases and project assets.

The project is premised on the belief that by reducing resource dilution in the overall cryptocurrency market, CoinJanitor will contribute to the network effect of truly functional coins, more effectively leverage fragmented communities, and implement mechanisms for the recycling of spent resources back into future projects.

As a result of this valuable market service, CoinJanitor proposes that it will also benefit from its own network effect and create a highly engaged, loyal community of coin holders working towards the improvement of utility and value in the crypto economy.

Token
According to their own whitepaper, ” CoinJanitor tokens will be a deflationary asset with an increasing community and reach, which should push prices up and give us more comfortable terms to buy out subsequent failed projects. Therefore, users of the first projects that we buy out will enjoy a double benefit.

They will receive relatively more CoinJanitor tokens for their locked value, and as CoinJanitor proceeds to buy out the next projects, the value – and the price – of the CoinJanitor tokens they hold, should increase accordingly. The hope for CoinJanitor is that this economic incentive will create enough interest to speed up the achievement of their stated goal of buying out 3 dead or failed coins within the first 2 months of operations.”

From that point forward, they believe the pace should accelerate since they would be able to prove the viability of the project, gather more users under the CoinJanitor umbrella, and generate more demand from dead or failed coin holders.

In theory this is a coin whose very business model and inherent token economics should lead to exponential growth for long-term holders if implemented correctly.

There will be a total of 100,000,000 JAN tokens generated in the ICO. Token distribution is as follows:

50% of all tokens will be sold in the open market to fund the project and all operations.
30% of the coins will be held by the CoinJanitor project to buy out dead or failed coins. According to the whitepaper, CoinJanitor will only use the tokens it issued to buy dead coin holders out.
5% CoinJanitor Partners
5% Bounty Program
10% Founders, Team and Future Employees
Their whitepaper states that all CoinJanitor tokens not sold during the public sale will be airdropped proportionally to contributors. This airdrop will importantly EXCLUDE CoinJanitor team members and the CoinJanitor reserve.

Team
This appears to be a highly qualified team.

CEO: Marc Kenigsberg
Marc has been involved in Bitcoin since 2013 and has 18 years’ experience in online marketing. He was one of the world’s largest cryptocurrency affiliates and the founder of BlockSmarter and Bitcoin Chaser. Marc is one of the world’s leading ICO advisors and works with various ICO’s and blockchain businesses. He is a regular speaker at conferences around the world and a contributor to leading industry publications.

CTO: Asaf Yosifov
Head of Innovation at Titanium Technologies, a leading R&D, and Innovation company. Asaf has 16 years of experience developing software and leading R&D teams in industries such as education, gaming, telecom, finance, and travel.

Biz Dev: Tzahi Kanza
CEO of Titanium Technologies, a leading R&D, and Innovation company. Tzahi has 17 years of experience managing global companies. He is an expert in start-up management, Blockchain, strategic planning and international business activity.

CMO: Tzvi Shishler
CEO of 4KingMedia, a leading Crypto Media company. Tzvi has extensive marketing experience in the disruptive online space and has been involved in Bitcoin and Crypto marketing from the beginning.

CIO: Theo Morgan-Somers
CEO of CryptoBuild, a financial technology company producing trading platforms for cryptocurrency. Theo has a marketing background but moved into investment and information analysis for DLT in 2015.

Steven Gleiser, Economic Architect
Steven first came across Bitcoin in 2013, looking at hedging opportunities in forex. He has been studying Bitcoin and other cryptocurrencies ever since, moving into the field as an analyst on a full-time basis 2 and a half years ago.

Verdict
In the eyes of this analyst, CoinJanitor looks like a fascinating and incredibly useful project. They have a detailed multi-year operational plan that considers the use of all resources in great detail within their white paper, with logical explanations for everything they want to spend money on.

When combined with the extremely friendly ICO price relative to the total token supply, the basic deflationary economics of the project, and fact that they are the only project attempting something like this gives me great confidence that this could be highly successful going forward.

Risks
Unprecedented project goals. This makes it harder to define what long-term success would look truly look like.
With no existing similar projects to compare to it, CoinJanitor has both the blessing and the curse of having a first mover advantage. -2.5
The project could suffer from malicious opportunists who could attempt pump and dump or mining attacks on the coins that CoinJanitor attempts to recycle. -3
Growth Potential
Incredibly low token supply means it will not take a lot of capital inflows to pump up the price +3
The coin is deflationary with a small and finite supply. Paradoxically, the more dead projects CoinJanitor absorbs, the more valuable their native token will become. +4.5
Highly qualified and experienced team +3.5
Disposition
We are left with a score of 6.5 out of 10 for CoinJanitor. This analyst believes this to be a potentially fantastic investment, especially as a long-term play.

Investment Details
Token Type: Utility
Platform: Ethereum
Symbol: JAN
ICO Price: One JAN= 0.16 USD
Token Supply: 100,000,000
Hard Cap: $7,5,000,000 USD
Public Sale: May 1st-May 31st
Jurisdictions Barred From Participating: TBD
Website: https://www.coinjanitor.io/
Whitepaper: https://www.coinjanitor.io/wp-content/uploads/2018/03/CoinJanitor-White-Paper-v4.5.pdf