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10/7/2022, 10:26:11 PM

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MiamiCoin is on the decline this week.

The price of MiamiCoin has fallen by 10.36% in the past 7 days. The price declined by 2.83% in the last 24 hours. In just the past hour, the price shrunk by 3.93%. The current price is $0.000556 per MIA. MiamiCoin is 99.07% below the all time high of $0.06.

The current circulating supply is 0 MIA.


What Is MiamiCoin (MIA)?

MiamiCoin is the first cryptocurrency of CityCoin. CityCoin empowers communities to develop their cities while rewarding individual contributions and city governments with cryptocurrency. Each city has its wallet funded by CityCoin. The city wallets are held in trust for the cities and can be claimed at any time. City wallets can be used for anything that a city considers appropriate, such as creating new public spaces, improving infrastructure, holding city events, recruiting start-ups, etc. Each city's mayor must claim their custody wallet before the funds can be used. Each city has its CityCoin, and one of them is MiamiCoin. MiamiCoin aims to support the city of Miami while rewarding its holders.

CityCoins are powered by Stacks, a blockchain that enables smart contracts on the Bitcoin network. Stacks (STX) are required for all transactions on the Stacks blockchain. When users lock STX in the protocol, Stacks enables a "Stacking feature," enabling users to earn BTC (Bitcoin). CityCoins use a similar Stacking feature to allow CityCoin holders to Stack their CityCoins to obtain STX, which can further be stacked again to earn BTC. As the Stacks protocol delivers rewards in the base value rather than the same value, they termed it "stacking" rather than "staking."

Further, as the documents state, MiamiCoin is a way for developers to experiment with new use cases and create applications. Developers can use MiamiCoin to create apps for access control (to digital or physical spaces), trading, lending, smart contract execution, and much more. 

How Are New MIA Coins Created?

Mining is the only way for CityCoins to exist. There is no ICO, pre-sale, or pre-mine, and no CityCoins are issued or distributed before mining begins. Mining in the crypto space is a process of creating new coins and verifying new transactions. Anyone can mine CityCoins on the Stacks blockchain by submitting STX to a CityCoins smart contract. 30% of the STX spent by miners is remitted directly to the city's allocated wallet. Also, 70% of the STX spent by miners is distributed to CityCoin holders who stack their coins (Stackers).

History of MiamiCoin (MIA)

MiamiCoin was launched in August 2021. The CityCoins program was developed and launched by CityCoins Inc., with contributions and assistance from Syvita Guild, Z1, DoubleUp, Freehold, and the Stacks Community.

As the website states, the reason behind starting the project with Miami was that Miami has long been a cultural and technological hotspot in the United States. The team behind the project has seen the city emerge as a technological powerhouse among big US cities, notably in the realms of crypto and blockchain technology. Developers and entrepreneurs have flocked to the city in droves, attracted by the city's strong network effects, welcoming administration, and culture of perpetual change and disruption.

It is also significant to note that the city of Miami has not partnered with CityCoins. CityCoins are a community-driven grassroots initiative. As the CityCoins community grows, they can push their mayor to claim the reserved treasury wallet and put the funds to good use. Lastly, the maximum total supply of MiamiCoin is 3,760,950,000.

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What is the current price of MiamiCoin?

The price of 1 MiamiCoin currently costs $0.000556.

What is the market cap of MiamiCoin?

The current market cap of MiamiCoin is $0.00. A high market cap implies that the asset is highly valued by the market.

What is the all time high of MiamiCoin?

The all-time high of MiamiCoin is $0.0600. This all-time high is highest price paid for MiamiCoin since it was launched.

What is the 24 hour trading volume of MiamiCoin?

Over the last 24 hours, the trading volume of MiamiCoin is $17.30K.

What other assets are similar to MiamiCoin?

Assets that have a similar market cap to MiamiCoin include GAIA Everworld, Ainu Token, Wojak Finance, and many others. To see a full list, see our comparable market cap assets.

How many MiamiCoin are there?

The current circulating supply of MiamiCoin is 0.