How is the function principle of this mechanism?

There are components that are not adequately detailed such as the cams that operate the cam followers. To me it looks like a variable pitch sheave. The sheave faces are segmented both radially and circumferentially. The cam is probably scroll shaped. The fact that the cam followers are in ever increasing distances from the ends of each carrier would fit this hypothesis.

One problem it overcomes compared to a regular variable pitch sheave is it could greatly extend the pitch range. A regular variable pitch sheave uses only two cone shaped opposed faces. Using a standard belt, there is a physical limit to how close and how far apart these faces can be. So there’s an absolute limit to the pitch range that can’t be overcome. And it is quite limited to about a 2:1 range or even less. A wider belt can be used, and often is, but then it becomes a highly customized arrangement. The segmented approach of this variable pitch sheave could theoretically have near infinite range.

Hi All,
It looks to me like a turning chuck of some kind, maybe for a CNC machine or similar unit.
When you turn the outside ring, it pushes the inner sector jaws towards the tool or the material. The rollers help reduce the friction and because there are so much different sectors, the force on the tool is evenly distributed through its surface.
Something more that it turns on my mind, when rotation starts and the RPMs increase these blades lock the whole mechanism and prevent it from loosen.
I do not pretend that I have it guessed but the project looks very clever and sophisticated.
Sorry for my bad English!
I hope I helped!

This is a CVT (Continuously Variable Transmission) developed for a bicycle by Treadlie Engineering.
https://youtu.be/EivnXf10nYg

“Treadlie Engineering has recently introduced a new V-belt CVT structure, which has been greatly reduced in size on the original principle, and has designed a prototype that can be installed on a bicycle. Let's take a look at how it works and its structure. The company's CVT is basically the same as a conventional CVT. The biggest difference is on the "V-pulley", they divide the one-piece side pulley into several independent sectors, rather than the original one-piece structure. Adjust the contact position between the V-belt and the pulley by moving a sector of the same width. This design greatly reduces the size of the original CVT, allowing it to be mounted on a bike within an acceptable Q range.“

http://www.onecf.cn/shehui/201910088272.html