According to FOX Business, the authorities of Miami, the city famous for having a pro-Bitcoin mayor, have voted to gain access to more than $5 million worth of the city-based crypto, MiamiCoin (MIA).

Using these funds, elected political leaders in the city will be able to improve the quality of life of Miami residents.

MiamiCoin is mined using Bitcoin-based crypto

MiamiCoin is a crypto based on Stacks, a Bitcoin-powered protocol, and so far this is the first CityCoin to be rolled out.

According to the Stacks (STX) project site, MIA is mined by locking STX coins in a CityCoins-based smart contract. Thirty percent of the STX sent by miners goes to a crypto wallet created for each city participating in the project. The remaining 70% can be used to earn STX and Bitcoin by stacking coins.

Miami can now get funding in crypto that can be used by elected city leaders to improve the lives of Miami residents, according to a recent tweet by local pro-crypto mayor Francis Suarez.