Over the summer, CityCoiners developed a four-phase plan to stabilize the protocol. The phases were split into two separate CityCoins Improvement Proposals (CCIPs): CCIP-012 and CCIP-013.

Voting for CCIP-013 has now passed and has been successfully ratified, with 88% of token holders voting in favor of the proposal, after voting ended at block 81,850 on Tuesday, November 1st.

What will happen next?

CityCoins core developers are preparing to implement phases 3 & 4 outlined in CCIP-013 and plan to begin work this week to:

1. Simplify CityCoins core contract design
2. Upgrade registration, mining and stacking flows such that:

• 100% of STX spent mining CityCoins is transferred to the city’s treasury
• 100% of the STX within the city’s treasury are delegated/stacked for STX rewards
• 100% of the rewards are claimable by anyone who stacks CityCoins, so that (a) rewards can be claimed per CityCoins cycle after the cycle ends & (b) rewards are distributed proportionally to the amount of CityCoins stacked
  

This work is scheduled to be completed over the next two weeks, targeting completion on November 15th. Head over to the #path-forward Discord channel to track important milestones as work progresses.

Please refer to the CityCoins Github Discussion page to see a list of all open tasks and remaining work.

Stay tuned for a final update on the protocol upgrade process as work to implement CCIP-013 is completed.