The Pomp Podcast
#599: Patrick Stanley On Creating Equity For Cities
- CityCoins enable residents and investors to support cities while earning yield, with 30% of mining proceeds going to a city reserve wallet and 70% to token stackers.
- The platform uses Bitcoin security via the Stacks blockchain, leveraging proof-of-transfer consensus rather than creating new proof-of-work.
- Municipal equity model inverts traditional government debt-and-tax structures, allowing cities to generate revenue from token appreciation and staking without raising taxes.
- Miami was selected as the first city because of its pro-technology leadership, geographic diversity, low tax environment, and contrast with San Francisco's declining governance.
- Mining CityCoins requires forwarding Stacks tokens into smart contracts; winners are selected pseudo-randomly weighted by contribution size, with both individuals and institutions participating.
- Future roadmap involves validating Miami's success before rapid expansion to dozens or hundreds of cities, with community voting on which cities launch next.