Mine CityCoins

The most effective way to mine CityCoins is as a team. With Syvita Mining your contributions are pooled with others to increase the pool's chance of winning blocks.

> 4,000,000

Total STX raised for Pool

> 400,000,000

Total CityCoins Won

What are CityCoins?

CityCoins are cryptocurrencies that give communities the power to improve and program their cities. CityCoins are powered by Stacks, a protocol that enables smart contracts on the Bitcoin network. CityCoins are launched by the community, one city at a time. Each city’s coin has zero pre-mine, zero team allocation, and zero VC investment before mining the coin goes live.

This means a level playing field for mining the CityCoin of your choice. Mining directly supports the city by funding their treasury wallet with STX, which the city can then use, sell, or stack to earn native BTC yield. Miami Coin, the first CityCoin to launch, is already responsible for Mayor Suarez’s plans to pay every single Miami resident a basic income in native BTC!

Why should you mine CityCoins in a pool?

In short, for the same reason people mining BTC team up - it reduces risk. Unless you are a very, very large miner, the natural randomness involved in mining BTC, or mining CityCoins, can mean any individual miner can randomly be unlucky, and win fewer blocks than expected. The smaller the individual miner, the higher the chance of being unlucky. By joining a pool, the riskiness is drastically reduced, and miners enjoy a much less risky, much more consistent rate of earning mining rewards.

Mining in Syvita’s smart contract pools also makes it simpler and easier for newcomers as it removes manual work and reduces the likelihood of mining with a suboptimal strategy. Syvita Mining offers the only non-custodial, smart contract driven mining pools for CityCoins, and is the only pool with daily payouts of your mining rewards.

Cities

Mayor

City

Wallet Balance

Mining Status

Francis Suarez

MIAMI

$7,163,718

Active

Eric Adams

NEW YORK CITY

$8,830,983

Active

Steve Adler

AUSTIN

$0

Inactive

Cities

Francis Suarez

Active

City

MIAMI

Wallet Balance

$7,163,718

Eric Adams

Active

City

NEW YORK

Wallet Balance

$8,830,983

Steve Adler

Inactive

City

Austin

Wallet Balance

$0

Frequently Asked Questions (FAQ)

What is Syvita Mining?

Syvita Mining is a decentralized mining pool for CityCoins. We utilize a smart contract to handle all aspects of mining, claiming, and distributing won CityCoins. Funds contributed to our pools go directly into the smart contract. These funds can only be utilized for mining. After mining is completed and blocks are claimed, the newly minted CityCoins are held by the smart contract until you claim them. Your share of the rewards is directly proportional to your contribution relative to the total size of the pool. Benefits of this service include a high level of decentralization, smart contract custody so you can rest assured your funds are secure, and regular liquidity. On average pool participants are able to claim won CityCoins daily.

How does CityCoins mining work?

CityCoins mining happens through a process known as Proof of Transfer Lite (PoXL). PoXL does not require any specialized hardware like Bitcoin mining. Instead, miners bid STX in a competition to mint a new block of CityCoins. Winners are chosen by a verifiable random function (VRF), with a miner’s probability of winning being directly proportional to the size of their bid relative to total bids. The more STX you bid on a block, the higher your chances of winning a block, but also the higher the cost of the block. When mining, all STX bids are irrevocably redistributed, with 70% going to CityCoins stackers and 30% going to a designated wallet for the benefit of the nominal city. Mining individually can be time-consuming and potentially risky, especially for miners deploying small amounts of STX. We are continuously monitoring block bids and market data to make sure we are mining as efficiently as we can. To join one of our pools the minimum contribution is just 40 STX.

What is stacking?

CityCoins stacking is the process in which you can lock your CityCoins in a smart contract to receive a portion of the STX spent by miners; 70% of all miner bids are redistributed to stackers. With stacking, you are being paid a yield in exchange for giving up liquidity. Stacking occurs in cycles. You can stack between 1 and 32 cycles. One cycle lasts 2100 Stacks blocks: approximately 2 weeks. When you stack your CityCoins, they will be locked up for the number of cycles you specify. STX rewards can be claimed at the end of each cycle in which your CityCoins are stacked. Stacked CityCoins can be claimed after the number of cycles you have stacked for have completed.

How to get STX?

In order to buy Stacks it is first important you first have a wallet. The most popular wallet is the Hiro browser wallet which is a chrome extension. Once you have completed the setup of your wallet you can purchase Stacks directly in the wallet.

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