CityCoins to launch сryptocurrency for New York
Open-source protocol CityCoins, which launched the MiamiCoin token for Miami, announced that it will create a similar token called NYCCoin for New York.
We're glad to welcome you to the global home of Web3! We're counting on tech and innovation to help drive our city forward. https://t.co/SY9pv1Ebct— Eric Adams (@ericadamsfornyc) November 8, 2021
NYCCoin mining has been officially activated at block 37449 today. All miners will be able to start mining NYC after a 24-hour countdown period.
It’s official!: NYCCoin mining has been activated at block 37449, after independent miners signaled to the NYCCoin smart contract.— CityCoins (@mineCityCoins) November 10, 2021
All miners will be able to start mining NYC after the 150 block (~24 hour) countdown period.
Let's go NYC! 🗽
These tokens will increase the revenues of municipal budgets through their production not only by New York residents, but also by everyone. This can be done by forwarding STX into a CityCoins smart contract on the Stacks blockchain.
According to the official website, NYCCoin provides new ways for people to support New York City and grow its crypto treasury while earning Stacks (STX) and Bitcoin (BTC).
Users receive a reward for mining coins in the native tokens of the STX project. 70% of the reward remains for the miner, and 30% of the STX that miners forward will be sent directly to the city wallet. The authorities can access it at any time and convert assets into fiat.
Regarding MiamiCoin, the token has accumulated about $21.7 million for Miami City Wallet since August, according to CityCoins.
Earlier, New York City mayor-elect, Eric Adams, said he intends to receive his first three salaries in Bitcoin, following the example of Miami Mayor Francis Suarez.
In New York we always go big, so I’m going to take my first THREE paychecks in Bitcoin when I become mayor. NYC is going to be the center of the cryptocurrency industry and other fast-growing, innovative industries! Just wait!— Eric Adams (@ericadamsfornyc) November 4, 2021