Now this is the main concern of this crypto world and crypto space there are lot of crypto junkies hanging on the web where the coins or tokens lost their value due to failed project or lack of community support. So how does the buy out takes place or the Coinjanitor has its own blockchain for inter swapping the dead coins to janitor coins ? or how to make the dead coin alive again ?
It is actually explained on the OP, but allow me to quote it for you
CoinJanitor will unlock that trapped value using economic forces and its primary tool: the CoinJanitor token. We will proceed to do that through 5 main steps:
1.) Mapping cryptocurrency markets to see where those failed coins are. We have come up with our own definition of what a failed coin looks like, taking various parameters into consideration. We define failed coins as follows: PoW coins – mainly – that were launched more than 2 years ago, are not traded on exchanges and have a market cap smaller than $50,000 USD.
2.) CoinJanitor will reach out to those coins that according to our mapping efforts, can be defined as failed coins. We will communicate with the creators and the communities of these projects to set up a buy-out program and have the creators turn over access to GutHub and other code repositories. The buy out program will have a deadline and will be done using the CoinJanitor token exclusively. This will prevent the emergence of pump and dump schemes, and other types of speculation. Using the CoinJanitor token will prevent the project from becoming a de-facto exchange service for coins that are otherwise not exchangeable.
3.) After the buy out program is implemented, CoinJanitor will proceed to eliminate – burn – all the coins it bought.
4.) The next stage involves decommissioning blockchains belonging to the projects that had value trapped in them.
5.) CoinJanitor’s final stage in this process is to organize and release all the relevant code, GitHub repositories, data and other relevant pieces of information about these projects, to the public. Every piece of code will be turned into open source code, available for the community to build upon and use on other projects. Data will be organized and distilled into decision-making tools that will help community members in the future.
And Dev, nice update on your thread. It looks much better and interesting with essentials and graphics
