Many people take a look at the CoinJanitor project and start asking themselves how will this project “make money”? Our answer to this question is that our aim is to clean up crypto by taking care of dead coins. Following that statement, some might lose interest in the project, because they see it as a coin that can only benefit holders of dead coins.
We have spoken extensively about the benefits of CoinJanitor to every kind of community member and every potential participant, but we might need to take a step back and see things through the eyes of those who are interested in our project and are thinking about ways in which they can benefit, without necessarily seeing the project from our point of view. Therefore, we have decided to write a piece that focuses solely on the benefits to the CoinJanitor contributors who might not have any dead coin holdings.
Our Project is Heavy on Economics
The first message we want to convey to this group of people is that CoinJanitor is a project that focuses mainly on economics. We studied the incentives each actor/user has in the system, and we realized that we can create a unique scarce resource through our JAN token. People who hold dead coins and have no other recourse to put the value they invested in these dead coins to good use, will now have a way out through the deployment of the JAN token. There are no other tokens or projects in the market that are offering them a way out. Therefore:
- Demand for JAN buy-outs should be high.
- A limited amount of JAN tokens means with each buy-out that unique resource reserve we hold, dwindles.
What is Good for Dead Coin Holders is Good for Others Too
Without mentioning the benefits to those who are not dead coin holders, the picture should be clearer by now. Nevertheless, we will go through the whole cycle to show our potential contributors how we will generate value for them as well.
Anyone who contributes to this project will hold JAN tokens, the same kind of token that dead coin holders need to transfer the value out of any dead coin and into the market. That resource is limited, and there is no real substitute for it in the market. Therefore, contributors should also benefit from the value that JAN tokens create for dead coin holders through the sheer force of demand and supply. Additionally, as more dead coin holders join the CoinJanitor community through the buy outs, there will be more JAN holders out there, which should create a network effect that few other projects can generate as quickly.
No One Can Guarantee You Will Make Money!
The value of this network effect coupled with the value of holding this unique, scarce resource, should now be clear. That means we can go back to the “making money” question. We must say that no one can really launch a project in the space and promise that it will “make money” for its contributors, team members and others involved. That is exactly why we do not want to focus on that aspect either. Instead, we would like to ask anyone interested to look at our value proposition. We are allowing dead coin holders to transfer value through a unique scarce resource, back into the markets. We are adding value by integrating all these dead coin communities under a single umbrella – JAN and the CoinJanitor community. We will create value through the analysis of all the data and code we collect during this process, which will allow us to build new tools in the future for the benefit of the CoinJanitor community.
Adding and creating value is at the core of our work. Capturing the value, we create to “make money” is just something we shouldn’t be focusing on at this point. We are doing this because we care about the space first and foremost, and we saw an opportunity to reduce market dilution in a way that would be beneficial for everyone involved in the cryptocurrency space. We hope our contributors can see this and we hope they share our vision. We will not promise anyone any kind of profit, because it is not what we are focusing on. We believe that projects in the space should not promise profits to anyone; our goal is not to turn our endeavor into an investment or a “make money quick” scheme. We are here for the long run.
We are here to make crypto better and we are confident that we will succeed, so if you believe in CoinJanitor as much as we do, go ahead and show your support on social media. Engage with us, ask us tough questions; help us get our message across. Even if you decide not to buy JAN tokens, you can contribute to our project in many other ways. We appreciate all the support we can get from all the readers out there!