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.
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2) Open the dashboard
Once your Stacks web wallet is set up, go to minecitycoins.com and select your preferred CityCoins city.
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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:
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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.)
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5) Confirm transaction
Once prompted, confirm the transaction to the Stacks blockchain. (IMPORTANT: Transactions can take up to 10 minutes to confirm)
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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.