The team is making Transformers Universe with the intention to keep the game going for at least 10 years; it has latched onto the "Universe" moniker to indicate it will eventually expand the game from our terrestrial ball to the stars (including Cybertron).
Transformers Universe will use Energon as the game's currency, and while the team will use microtransactions to fund this free-to-play title, the exact model has not been finalized. Players will be able to pick between male and female characters and will use their alternate (non-robotic) modes for more than just transportation. At the game launch, players will be able to transform only into vehicles, but Jagex says that there are plans in the works for other forms such as animals.
[Thanks to Austin for the tip!]