Introducing the MOBIX Miles Conversion Method

by | Mar 29, 2022

Up to the initial conversion of MOBIX Miles to MOBX Tokens, the MOBIX token reward pool was distributed proportionately to earned MOBIX Miles. This method has now been updated with an additional factor.

Starting the regular conversions from the 28th of March 2022, MOBX tokens won’t solely be allocated according to the proportion of MOBIX Miles earned. It will also take into account how many MOBX tokens are staked with the respective MOBIX Wallet ID.

In short:

The more MOBX you stake,
the more MOBX rewards you get
from the same amount of
earned MOBIX Miles!

If you’re willing to go a bit deeper into the topic, read on.

The MOBIX Weight Score

MOBIX has implemented a weight score which determines how much MOBX you get for each MOBIX Mile that you collect. This weight score is mainly derived from the amount of MOBX you have staked. So, a MOBIX Mile in a wallet that has staked 5 MOBX will convert to more MOBIX tokens than a MOBIX Mile of a wallet that has only 1 MOBX staked.

This Weight Score then gets multiplied with the collected MOBIX Miles of each individual user within the respective period and summed up to a Total Miles Weight. Each user’s proportional share of Miles Weight in the Total Miles Weight determines the amount of MOBX rewards the user gets from the weekly MOBX reward pool. 

We would like to give everyone the chance to earn MOBX by doing micromobility trips. Therefore, even users with no MOBX staked are eligible for MOBX rewards as long as they have collected MOBIX Miles during that period. But now, staking them increases the MOBIX Miles weight and results in higher rewards!

Now, MOBIX wallets that have very large amounts of MOBX staked don’t have an equally large MOBIX Miles weight. But their weight is still significant enough to reward their commitment to the MOBIX project accordingly.

At the end of each period – i.e. on Mondays at 09:00am UTC – a weekly snapshot will be taken. This snapshot captures the amount of staked MOBX to determine the MOBIX Miles Weight for each user. 

Staking MOBX has just gotten a lot more attractive for all MOBIX users! Let’s MOBIX!