Deadcoin Buy Outs
CoinJanitor is the first project in the space to buy out inactive cryptocurrencies or tokens to unlock the value left in them. Here are all the details you need to know to understand how this buy out process takes place. You can also follow our most recent buy out updates through the information below.
We have just completed our first buyout of Globycoin. If you are a holder please contact support to claim your tokens.
General Buy Out Instructions for Deadcoin Holders
If you are a deadcoin holder and CoinJanitor has bought your project out, please make sure you follow these instructions:
- Open an ERC20-friendly wallet. Make sure your wallet is indeed ERC20-friendly! We will only send the you the tokens you are entitled to from the swap once. Any mistakes on your side are your responsibility.
- Make sure your wallet is secure. We do not recommend any wallets, so picking the right one for you is up to you.
- Contact support and provide the information necessary. Make sure you are contacting us. There are a lot of scammers out there, so check that the URL – coinjanitor.io – and the email addresses you are using to contact us are ours. Our staff will not ask for any kind of personal information beyond an email address to keep on communicating with you.
- Apart from your email address, our staff will collect standard information regarding your deadcoin holdings. You will be required to provide all your deadcoin addresses and balances as well as a corresponding ERC20-friendly address for us to complete the swap. Keep in mind that you must send all your deadcoin holdings to us before we send the corresponding JAN tokens your way.
- Our staff will send you an email with specific instructions regarding your buy out, including the exchange rate and the exchange dates. Make sure you complete your swap before the deadline. After the deadline, there will be no more swaps!
If you are new to the Ethereum/ERC20 ecosystem, make sure you load the address with some ETH before you attempt to use your JAN tokens. CoinJanitor tokens are on the Ethereum network. You can only pay for your transaction fees on the Ethereum network with ETH.
After the deadcoin buy out is completed, you will be a full member of the CoinJanitor community. You will be able to enjoy all the benefits that our community provides. Please share your thoughts with us on our Telegram channel, through email, Twitter or directly with our support team. We value your opinion and will consider your input in our future endeavors.
Deadcoin Buy Outs for Developers
If you are the developer of a project that has stalled, failed or is otherwise inactive, please contact us directly. We are interested in buying out your project and recycling all the value that is still locked within it. Keep in mind that we only use JAN tokens in any buy out.
What is a Cryptocurrency Buy Out?
A deadcoin buy out is a wholesale purchase of a cryptocurrency’s assets when it has stalled, failed, or is otherwise inactive. CoinJanitor is the first project in the space to offer developers and holders of deadcoins a way out of their projects when they fail to succeed. The buy out involves the acquisition of all the target project’s assets, including websites, access to social media accounts, code, data, meta data and more.
In parallel, CoinJanitor will integrate all the users who were part of the deadcoin project, into the CoinJanitor community. Through a JAN pay out, CoinJanitor will swap all the coins that developers and community members have. All the coins that CoinJanitor buys, will be burnt or otherwise disposed of in a manner in which no one will be able to use them again. After the buy out deadline, CoinJanitor will proceed to dismantle all the infrastructure that supports the deadcoin it bought out. This will complete the process of decommissioning the deadcoin and will reduce dilution in the market.