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An overview of the registration and activation component of the CityCoins protocol. |
{% hint style="info" %} CityCoins require the Stacks Web Wallet to interact with the smart contracts on the Stacks blockchain. (see How do I get started?) {% endhint %}
CityCoins only exist through mining, which does not begin until 20 independent wallets signal activation after the contract is deployed.
There is no ICO, no pre-sale, and no pre-mine, and there are no CityCoins issued or distributed prior to the start of mining.
Once 20 users register to activate the contract, a 150 block (~24hr) countdown begins, after which anyone is eligible to try and mine the CityCoins within a given Stacks block.
{% hint style="info" %} Registration is not required once the contract is activated. After this process is complete, anyone who completes a mining or stacking transaction will automatically be registered as a user. {% endhint %}
A nominal transaction fee is required in order to send this transaction, paid in STX, and you can optionally include a memo of up to 50 characters that will be recorded on-chain.
For a more technical explanation, please see the contract functions for activation.