MOBIX: A marketplace for consumers and suppliers of micromobility
MOBX: Native token of the MOBIX ecosystem, used to reward eco-friendly transport in urban areas
MOBIX Wallet: A digital wallet on your smartphone to manage your MOBX
MOBIX Miles (“Miles”): Point system to calculate MOBX rewards
Do you remember the last time you found money while walking on the streets? This joy that comes with this windfall profit (pun intended)? Get used to it: With the MOBIX wallet, you will earn rewards for walking (and using other means of eco-friendly transport) instead of using the car. In this post, we will introduce you to the MOBIX rewards mechanism. MOBIX uses a point-based system, the MOBIX Miles, to distribute MOBX token rewards to users for eco-friendly mobility behaviour.
MOBIX – Incentivizing climate-friendly mobility behaviour
Today, the high density of car traffic is a problem in urban areas. Car traffic creates noise, is an inefficient means of transportation, pollutes the air and poses potential harm to the climate. The goal of MOBIX is to reduce CO2 emissions by incentivizing users to choose eco-friendly transport alternatives. Here, MOBX tokens come into play. These tokens are rewarded to users of the MOBIX wallet for activities like walking or using micromobility devices, s.a. scooters, eBikes, cargo bikes, mopeds, or Mini-EVs, instead of cars (with combustion engines).
MOBIX Miles – A point-based distribution system to earn MOBX tokens
MOBX, the native cryptocurrency of the MOBIX ecosystem, has a fixed supply of 100 million tokens. The majority of these tokens will be used to reward users for eco-friendly mobility behaviour. MOBX will be allocated to users via a point-based distribution mechanism. Users will be able to earn MOBIX Miles for specified actions. At defined time steps, MOBIX Miles are converted into MOBX and distributed via airdrop to the users‘ MOBIX Wallets.
Let’s dive into an example to better understand how the MOBIX Miles reward system works.
Rewarded Action #1: Should I take the car or walk?
Often we are lazy and take the car, even for distances we could easily walk. MOBIX incentivises users to opt for the healthier and environmentally friendly option: Walking.
This process involves three actors:
1. MOBIX users
2. MOBIX Reward Agent, which is based on Fetch.ai’s Agent Framework
3. Steps Reward Smart Contract, which is deployed to the Fetch.ai’s mainnet
MOBIX Reward Logic
1. The user installs the MOBIX Wallet on her smartphone and grants access to the OS-specific pedometer.
2. The user sends verifiable steps data to the MOBIX Reward Agent.
3. The MOBiX Reward Agent calculates the amount of MOBIX Miles the user earns, based on the walking distance and duration.
4. The MOBIX Reward Agent registers the Fetch.ai mainnet address and earns MOBIX Miles of each user in the Reward Smart Contract.
5. Periodically, the MOBIX Reward Agent transfers a defined amount of MOBX tokens to the MOBIX Reward Smart Contract and calls the settlement function.
6. The MOBIX Reward Smart Contract calculates the amount of MOBX rewards for each registered address based on its relative MOBIX Miles and the amount of MOBX available.
|Total MOBIX Miles
|MOBX Rewards Per Time Step (every 24h)
7. After calculating the amount of MOBX each user earns in this period, the MOBX tokens are sent from the smart contract to the MOBIX Wallet address of the user.
Benefits of the MOBIX Miles System
Three reasons for the MOBIX Miles-based distribution mechanism of MOBX over a flat MOBX distribution:
The MOBIX Miles system caps the amount of MOBX tokens rewarded per day and action. In case a trickster searches for a way to game the system, she will not be able to drain an arbitrary amount of MOBX tokens from the reward pool but only max out the amount she earns for this action in a given period. This adds security to the MOBIX reward system.
In the beginning, a point-based distribution mechanism is excessively profitable for early users, since the rewards are shared only among the first users. This incentivizes them to tell their friends about it and bring new users to MOBIX. With increasing adoption, rewards will adapt to an increasing number of participants.
This mechanics allows for great flexibility in the reward design since individual parameters, s.a. the amount of MOBIX Miles awarded per action can be adapted. This enables price discovery on the number of rewards needed to be paid, like to motivate a user group to perform specific CO2-saving actions.
For mining BTC you need expensive specialized hardware and pay high electricity bills. For earning staking rewards on ETH or FET you need to buy ETH or FET first. In contrast, MOBIX implements a Usage Mining mechanism, which allows you to earn MOBX tokens through eco-friendly mobility behaviour. This will grant all users easy access to earning crypto rewards and therefore help to grow the MOBIX ecosystem.