The mechanics of the game use a skeleton of the Open Game License, close to the old d20 System, called the HYPE Factor System.
However, many things were simplified, altered or flat out cut to make the experience as simple and as fast as possible.
The main meat of the game, the mechanic that justifies the existence of Intergalactic Lucha Libre League is the HYPE Factor system. In which every action in a match generates HYPE from the crowd, feeding the wrestler to power through pain, hit harder or even finish the match with their Finisher maneuver.
Interviews, promo segments, sneak attacks and even begging to the Booker to change their upcoming match are all done in simple skill rolls, made that way to keep the action moving. A full show with four players shouldn't take much more than 3 hours, or a regular gaming evening to run through. Of course, all those actions tie together with the HYPE factor.
Creating a character is as simple as picking one of the four Space Races, one of the four Classes, picking some of the movesets (which are restricted by classes), picking one character trait and defining the names and which body parts get damaged by your signature move and finisher.
Leveling up is all about career milestones. If your wrestler saved a town from Anti-Violence Bikers who protest against wrestling, he might go up a level. If he manages to defend his title against three different opponents, he might go up a level as well. Only those who have a storied career get stronger!