NewYorkCityCoin is the second CityCoin to launch, built to reward its holders through the Stacks Protocol.
Learn more about NYCCoin
What is NYCCoin?
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NewYorkCityCoin is a cryptocurrency powered by the Stacks Protocol, which enables smart contracts on Bitcoin.
NewYorkCityCoin (NYCCoin) provides new ways for people to support New York City and grow its crypto treasury while earning Stacks (STX) and Bitcoin (BTC).
NYCCoin can be mined or bought by anyone who wants to support New York City while earning crypto via the Stacks protocol. NYCCoin is also programmable, enabling builders to improve the city from their keyboard by using NYCCoin to build web3 apps, mint NFTs, or otherwise improve the city's digital infrastructure.
Why New YorkCity?
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New York City is arguably the cultural, financial, and media capital of the world. Where New York City goes, the world follows.
Over the past decade, New York City has emerged as a leading tech hub, and the city has done an incredible job at cementing itself as an innovation center. The city boasts both a brilliant workforce and the ability to attract talent from every corner of the world. This diverse labor pool, coupled with an abundance of venture capital for builders, provide a foundation for NYC’s future success.
As a testament to New York City’s growing appeal as a burgeoning tech center, Amazon recently announced an office hub with 25,000 employees in the Long Island City neighborhood of Queens. Google and Apple are similarly following suit, and have both announced major operations in New York City. And while these developments are encouraging, it’s important that the technologies that take up an increasingly significant portion of people’s lives remain in the hands of the people. That’s why NYCCoin is designed to enable more active forms of participation for a broader range of city residents and community members.
CityCoins is designed to leverage New York City’s energy, creativity, and entrepreneurial zeal for the city’s benefit. It will be exciting to see what New York City does with NYCCoin.
Has the city of New York partnered with CityCoins?
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New York City has not partnered with CityCoins. CityCoins like NYCCoin are grassroots initiatives.
100% of the STX that miners forward in order to compete in the earning of NYCCoin will go directly to the wallet reserved for the city.
What is the NYCCoin treasury?
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The NYCCoin treasury consists of STX, which is sent by miners when they forward the funds to a Stacks smart contract for the right to compete in a mining competition. 100% of the STX forwarded by miners makes its way into the city treasury.
What can NYCCoin holders do with their coins?
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Anyone can mine NYCCoin, program NYCCoin via smart contracts, and even earn BTC from the protocol as it gets more usage.
NYCCoin is a new way for developers to create applications and experiment with innovative use cases. Developers can create apps that use NYCCoin for access control (to digital or physical spaces), trading, lending, smart contract execution, and much more. For example, within two months of launching, a CityCoiner created a “Mint-with-MIA” feature for MiamiCoin. As a result, holders can now create or buy NFTs with their CityCoin.
How do you get NYCCoin?
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NYCCoin mining begins on November 10th.
Miners can compete to mine NYCCoin by forwarding STX to a Stacks smart contract, at which point the block winner will be chosen at random weighted by the amount of STX forwarded.
We recommend reading CityCoins mining registration and activation documentation to understand how mining works, and know what you need to do to prepare for mining activation.
