$MIA & $NYC
CityCoins give communities the power to improve their cities while providing crypto rewards to individual contributors and city governments alike. Each city has their own coin, starting with the launch of MiamiCoin (MIA) in August of 2021.
A CityCoin provides an ongoing crypto revenue stream for a city, and can be mined or bought by individuals who want to support the city and benefit from the protocol. There is no pre-mine, pre-sale, or ICO, and new CityCoins are only mined into existence.
A city can elect to use its growing crypto treasury to benefit the city and its constituents — think new public spaces, improvements to infrastructure, hosting city events, recruiting startups, and more.
CityCoin miners spend STX while competing to earn the CityCoin block reward, which is defined by the token emissions schedule and begins at 250,000 CityCoins per block.
- 30% of the STX that miners spend is sent directly to a reserved wallet for the city
- 70% of the STX that miners spend are distributed to people who stack their CityCoins (Stackers)