Money, stay on my craft and stick around for those pounds
But, I do that to pass the torch and put on for my town

from Macklemore and Ryan Lewis (Ft. Ray Dalton) – Can't Hold Us Lyrics on Rap Genius

Macklemore has a lot of pride for his city and encourages aspiring seattle-based rappers to make it big and not have to go to L.A. or New York to get their career going.

Explaining that his money comes from his craft (music) and pounds (marijuana or European currency-money). Not being the most proud of the latter, he explains why he does this by starting the next line with “But”. And “pass the torch” is an analogy for passing a blunt or giving responsibility to someone else (most likely the younger generation). “Put on for my town” is doing shows for his fans.

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