CityCoin’s Plan for NYCCoin Is Welcomed by Mayor-Elect Adams

The next mayor of New York City, Eric Adams, expressed his support for CityCoin’s NYCcoin program, tweeting a welcome to the city.

• Adams won the Nov. 2 election and is expected to take office on Jan. 1.

• “We’re glad to welcome you to the global home of Web 3! We’re counting on tech and innovation to help drive our city forward,” he wrote while retweeting CityCoin’s Nov. 8 tweet.

• The NYCcoin can be mined by anyone and will allow users to earn crypto through the Stacks protocol, CityCoin said.

• CityCoin said it aims to support New York City and its protocol automatically allocates 30% of the funds spent to mine the tokens to a crypto wallet reserved for the municipal government or the Mayor’s Fund.

UPDATE (Nov. 9, 19:36 UTC): Clarifies contribution mechanism in fourth bullet point.