Cryptocurrency News

CityCoins project coming to NYC courtesy of mayor-elect Eric Adams

  • New York Mayor-elect plans to bring 'CityCoins' project to the city
  • The project will lead the creation of NYCCoins
  • The $NYC will be available for mining on Nov 10 at approx 3 pm ET

Set to take office and become Mayor at midnight on January 1, 2022, New York Mayor-elect Eric Adams, known for his pro-Bitcoin stance, plans to bring ‘CityCoins’ project to the city. 

CityCoins to bring NYCCoin

The NY Mayor-elect’s pro-Bitcoin stance and pioneering statements regarding cryptocurrencies have put him in the spotlight. In his recent statement, the Mayor revealed that he plans on bringing ‘CityCoins’ to New York. This is a project that allows the resident of a city to invest in the city itself by buying the city tokens. Also, the project allows users to earn yield in Bitcoin. 

According to the recent developments from the CityCoins community, the NYCCoin will be the second city token to be launched after the launch of MiamiCoin in August. MiamiCoin has already generated more than $21 million for Miami, and it seems that this is just the start.

The token is coming to New York, and the “community activation of mining for NYCCoin will begin on Wednesday, November 10 at approximately 3 pm ET.”

“NYCCoin gives citizens and supporters the power to support, improve and program the city that never sleeps,” states the website of the new ‘CityCoins’ project.

The $NYC token and the NYCCoin decentralized project will be handled by the people of New York. Furthermore, the “NYCCoin will create a novel new mechanism for civic engagement by allowing anyone to play a part in growing the city’s crypto treasury and creating a new technology ecosystem for development, all while earning STX and BTC rewards.”

According to the Twitter announcement by CityCoins, the mining process will be on the said date once 20 independent and distinct wallets indicate that they are activated after the deployment of the contract.

“All CityCoins have mining-only activations with no ICO, no pre-sale, and no pre-mine,” said the crypto project in a tweet. 

Furthermore, CityCoin community’s lead, Patrick Stanley, was excited and delighted at the progressive step taken by the soon-to-be Mayor of New York City. 

“We are thrilled to see New York City elect a pro-Bitcoin candidate as its next Mayor, and we hope that with the launch of NYCCoin, which is built on Bitcoin, New York can follow in the footsteps of Miami and recognize the incredible opportunity that CityCoins presents the local government and community,” said Stanley.

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