How to stack CityCoins
Anyone can "stack" CityCoins to earn rewards. Similar to staking, "stacking" is when you lock tokens (like STX, MIA or NYC) to provide a service to the network.
Stacking rewards are distributed in the token that powers the protocol: stack STX to earn BTC, stack a CityCoin to earn STX. (Here's more on why CityCoins builds on Stacks and Bitcoin)
What you need to know
- When you stack CityCoins, you receive a portion of the Stacks (STX) transferred by miners as part of the mining process. The STX rewards you receive will be proportionate to the total stacked in that cycle.
- Once you elect to stack your CityCoins, you must wait until the end of the reward cycle before you are able to claim your STX rewards. Reward cycles are approximately 2 weeks long. Your stacked CityCoins can be reclaimed once the selected stacking cycle(s) are complete.
- You can stack tokens for up to 32 cycles at a time. There is a 1-cycle cooldown period after your selected number of reward cycles end.
A quick start guide
STEP 1: Download your Stacks Web Wallet
STEP 2: Use your Stacks Web Wallet to stack your CityCoins
STEP 3: See the latest block number via a Stacks blocks explorer
A visual, step-by-step guide
Below is a visual guide to stacking your CityCoins.
1) Set up your Stacks Web Wallet
Download the Hiro Web Wallet extension to your browser and create a Stacks wallet (or log in with your existing secret key). Your web wallet holds your CityCoins and allows you to interface with the network via a dashboard at minecitycoins.com.
2) Open the dashboard
Once your Stacks web wallet is set up, go to minecitycoins.com and select your preferred CityCoins city.
Alternatively, you can use other community-built mining and stacking portals, like minemiamicoin.com (for Miami’s MIA).
3) Select number of tokens
Input how many CityCoins you would like to stack for the current cycle:
4) Select number of reward cycles
Determine how many reward cycles you will want to stack, then select “Stack”. (IMPORTANT: Reward cycles are approximately 2 weeks long, and you will not be able to receive your STX or CityCoins rewards until the cycle has been completed.)
5) Confirm transaction
Once prompted, confirm the transaction to the Stacks blockchain. (IMPORTANT: Transactions can take up to 10 minutes to confirm)
A 3-minute video guide
Below is a 3-minute video walkthrough to stacking MiamiCoin using the community-built portal minemiamicoin.com:
Congrats, you've stacked your CityCoins!
Once confirmed, your CityCoins begin stacking.
For additional help, review the CityCoins documentation and follow @mineCityCoins on Twitter.