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Author: Admin | 2025-04-27
Four years. During the first 10,000 blocks, winning miners receive 250,000 CityCoins per block. Rewards are then reduced to 100,000 coins per block for the next 200,000 Stacks blocks (approximately four years.) From there, rewards are halved every 210,000 blocks until Stack block 1,050,000 is reached, upon which a fixed amount of 3,125 CityCoins will be released per block in perpetuity.Stacks issuance schedule (Stacks) How CityCoins stacking worksStacking is very similar to Ethereum staking and requires participants to lock up digital assets in a smart contract for a voluntary period to earn rewards. The only difference is that the earnings are denominated in a different cryptocurrency. When you stake ether – the native cryptocurrency of Ethereum – you earn more ether as a reward. In contrast, CityCoin holders stack their CityCoins tokens to earn STX. The STX they earn comes from the portion of STX tokens deposited by miners, as previously described.At this early stage, you can only receive CityCoins like MiamiCoin through mining. However, there are plans to list these tokens on exchanges in the near future.In addition to earning STX tokens, people who stack their CityCoins can also generate bitcoin – providing a dual yield on their assets.Like the mining process defined above, stacking occurs via the Stacks blockchain protocol.What is a city wallet?Each city where CityCoins has been launched has a special wallet called a City Wallet. This effectively acts as the city’s crypto treasury and is where 30% of all miners’ STX bids are sent.The mayors of these cities can claim the funds in the City Wallet at any time and use the capital generated by cashing out of the tokens to improve the lives of their constituents. Better still, they can further stack the STX tokens accrued in the City Wallet to earn bitcoin.What is MiamiCoin and NYCCoin?Already, two cities in the United States of America have started accruing STX in their respective city wallets. These cities are Miami and New York City. CityCoins users have issued native tokens for each city:MiamiCoin ($MIA): MiamiCoin was launched in August 2021 as the first CityCoins token designed to reward miners and generate STX and bitcoin for holders. As its name implies, MiamiCoin provides an avenue for Miami citizens to support the development of their city and, in turn, receive rewards for their contributions. Hence, when a miner deposits STX to the MiamiCoin smart contract, the miner stand the chance of receiving MiamiCoins as rewards. More importantly, a portion of the deposit goes to Miami’s city wallet.In just under three months since MiamiCoinCoin went live, the protocol’s contribution to the city has grown to $20 million worth of STX tokens. It is worth mentioning that the city’s leadership has since gained control over this wallet.Newyorkcitycoin (NYCCoin): NYCCoin is another variant of the CityCoins tokens specially designed to promote an enabling crypto community in New York. On Nov. 10, 2021, the NYCCoin smart contract was deployed and citizens have already started mining and stacking the token for a chance
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