The usage mining of MOBIX tokens is the centerpiece of MOBIX. Since its launch, MOBIX users have been avidly collecting MOBIX Miles (some perhaps a bit too eagerly).
Each of the past 22 periods, 10,000 MOBX tokens have been provided to the MOBIX Reward Pool – accumulating to 220,000 MOBX to be distributed to users that have collected MOBIX Miles!
How does the MOBIX Miles Conversion work?
For every period, the reward pool is distributed proportionately to earned MOBIX Miles.
EXAMPLE
If user X earned 80 miles during this week, her MOBX reward is calculated like this:
One period = 1 week (Monday 09:00am UTC to the following Monday 08:59am UTC)
Reward Pool = 10,000 MOBX
Assuming all MOBIX users combined earned a total of 20,000 MOBIX Miles within a period, the MOBX token reward for user X reward is calculated like this:
10,000/20,000*80 = 40 MOBX
So in our scenario, user X has collected 40 MOBX tokens in one period.
Allocation & Payout
The very first conversion will start automatically since it is handled by the MOBIX team. All earned MOBIX miles will be converted based on our conversion system (see above). All earned MOBX will be summed up and transferred to MOBIX users that are eligible. The MOBX tokens will be transferred to their wallets STEP-BY-STEP by the end of the week of March 28, 2022.
Recurring conversion
Periods are set to 7 days. The next period starts on Monday, 28th of March 2022 at 09:00h UTC and ends Monday the 4th of April 2022 08:59h UTC. Starting the new period, the MOBIX Miles balance of every MOBIX user is set to 0. This is necessary so MOBIX Miles won’t be converted multiple times.
New allocation method
Starting the 28th of March 2022, an updated allocation algorithm for MOBX tokens has been applied.