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Miami launched MIA, a city token, on August 3, with BTC and STX revenue for holding the token

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Users must have STX to mine CityCoins tokens.

According to BlockBeats, the city of Miami announced the launch of MiamiCoin, an urban cryptocurrency, on August 3 (local time) to fund infrastructure projects or events in the city. People will support the city of Miami by buying or mining Miami coins, and the money will be transferred to the city's coffers.

MiamiCoin will be the first city token to be released. According to CityCoins, users who hold MiamiCoin receive both BTC and STX. Anyone can mine MiamiCoin(or other CityCoins). MiamiCoin is built on Stacks, so once the project is up and running and held by more people, then investors will be able to passively earn Bitcoins by holding MiamiCoin. This is because the Stacks project allows users to pledge their tokens and get BTC rewards. Users must have STX to mine CityCoins tokens.

But MiamiCoin is experimental, and it's not known whether it will actually bring in revenue for the city. Starting August 4, The Miami Coin (MIA) will be available on "certain trusted trading platforms," CityCoins said.