How it works
CityCoins are powered by Stacks, a protocol that enables smart contracts on the Bitcoin network. Anyone can compete to mine CityCoins by forwarding their STX tokens through the Stacks protocol.
30% of miners’ forwarded STX is directed into a wallet reserved for each city, and the remaining 70% can be stacked to earn STX and BTC.
CityCoins are mined by forwarding STX into a CityCoins smart contract on the Stacks protocol. The winner of each block reward is selected randomly, weighted by total STX spent. CityCoins are claimed by the winning miner and can then be stacked to earn returns in STX and BTC.
CityCoins can be locked on the Stacks protocol for a voluntary period of time, earning STX as a reward. The rewarded STX comes from the 70% of forwarded STX from CityCoin miners. The earned STX can be further stacked to earn BTC.