MixMob Launches Turbo Arenas Staking Program & Reveals Token Design
The next phase of the Incentivized Beta for MixMob: Racer 1 comes with a token design reveal alongside the introduction of the first version of Turbo Arenas coupled with a staking program.
MixMob: Racer 1 Turbo Arenas & Staking Program
The first version of Racer 1 Turbo Arenas allow players to compete against each other by paying an entry fee in SUD$ or MXM, with a 10% rake in place where half of it goes to the treasury, while the other half goes to the winner of the race.
According to the announcement, the Turbo Arenas act as MixMob’s version of liquidity pools in their token economy, and next to having entry fees, there are also betting fees, which means that when spectators bet on racers, 5% ends up going to MixMob. Spectators can bet in SUD$ and MXM on live streams as part of the Watch & Bet feature. There is also a monthly sweepstakes pool from which players in Turbo Arenas could also earn tokens from.
Turbo Arenas V1 comes with a limited time $SUD Staking Program, a feature found in the staking section of MixLab that allows you to stake SUD$ and MXM tokens in Turbo Arenas in order to earn a share of the Arena revenues.
MixMob Token Design Revealed
MixMob has revealed the token design behind two of their ecosystem’s core tokens: MXM and SUD$.
MXM represents the governance token used for operating the league, incentivizing players to race, as well as for buying premium items, taking part in Turbo Arenas, and more.
SUD$ is the in-game currency that winning racers can earn and use for buying items and utilizing various gameplay mechanics.
Next to earning tokens from racers, the official post reveals that holding them allows you to take part in revenue sharing, referral rewards, and governance. Governance allows you to contribute to the future and rules of Turbo Arenas, Leagues, and Crews, while revenue sharing involves getting a part of the revenues collected by MixMob, and referral rewards consist of earning SUD$ and MXM by inviting players to your Arenas.