The cycloid pinwheel mechanism plays a key role in the function of RV reducers, making the lubrication and wear characteristics of the cycloid tooth profile vital areas of research. This study uses the RV-20E reducer as a case study to analyze the time-varying contact force and relative velocity between the cycloid wheel and the pinwheel, factoring in the system's dynamic properties. A transient contact model for thermal mixed lubrication of the cycloid tooth profile was developed, incorporating friction and temperature rise, and was based on a rough surface model of the dynamic bonding interface. This model enabled the calculation of oil film thickness, contact stress, and wear volume at the interface between the cycloid wheel and the pinwheel. Additionally, the study assessed the impact of traditional shaping methods on wear characteristics and derived a fitted cycloid tooth profile for the profile grinding process. These findings provide valuable insights into improving the lifespan of RV reducers.