> For the complete documentation index, see [llms.txt](https://kof-arena.gitbook.io/the-king-of-fighters-arena/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://kof-arena.gitbook.io/the-king-of-fighters-arena/tokenomics/fighters-club-token/token-exchange-formula.md).

# Token Exchange Formula

**\<Exchange Factor Formula>**

![](https://lh4.googleusercontent.com/3Dngs_ie0yMFINP4UkCsuCfZ8-rLL1BDsOGDz11quYRxjYunupuSlUgBqdec64Cd9xGQH3bhMN3IXUMUeOJTnnFOtPIYY7_XV9sUh_vjCKByJU_G0geCdVPH3Qs9OvgZEziyjZwsF746lqRpa0IzmG1Q2ESdbyuuVYZemaz-GOkL1dkXlw8ao_3KwV6QGxwU_j08AxSXvA)

k=days since game launch, counting from the day exchange rate is first calculatable

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2FwcJenCNQzDHIjdS4tcf5%2Fimage.png?alt=media&amp;token=79151ebd-a617-4861-a2e4-cee5c8f9139d" alt="" data-size="line">(n)=estimate of FM to FCT trades to be requested on day n

<img src="https://lh3.googleusercontent.com/WFRoX812_FBBwiebhvtGqKCivIeAbHdF7izg2iGEaXiGNOiucG_Yb_9Urrfxdw7D_zF0JLVAWskyalKiePI9Qn4_LKBHqH6bSTldfBrP1NecdzZMlHLjtvGij5uhiFjVbeHZDYjRuUkfE1TGvSdMuMvKG5xNCBbltAjBWsO8VaDgMpxBc29qt2G4JD5ya5C7X8Y5qN0TDw" alt="" data-size="line">

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2F83zmisV9gsN4lgFVPQZ9%2Fimage.png?alt=media&amp;token=69f9723d-af3f-4f48-9e13-befee8ede2a8" alt="" data-size="line">=estimate of gross FM production via active Controllers on day n

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2F0HzGn2vCjATfuKxTUN7F%2Fimage.png?alt=media&amp;token=d8e2713e-7f7a-4762-8b41-bcc994e14a73" alt="" data-size="line">

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2FKwcVt4cLuGmupkhglRdG%2Fimage.png?alt=media&amp;token=5363b364-d97b-4faa-b14c-854534d641e3" alt="" data-size="line">=number of active Controllers on day n

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2F7SEkYApkUz4zoUJMzxEK%2Fimage.png?alt=media&amp;token=b55f5caf-4ffa-4ea0-9a37-d7d035c6007c" alt="" data-size="line">=estimated average daily FM production per Controller, initialized at 2,000

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2FjfwatABo8W6C8FlX4PBK%2Fimage.png?alt=media&amp;token=51e33ae6-cddf-402e-ba6a-1b83538408e5" alt="" data-size="line">=average exchange ratio of FM generated in-game for FCT over 7 days based on day n. If the minimum number of days is not reached, a fixed value of 0.6 (60%) will be applied

![](https://lh6.googleusercontent.com/BJJ4Tg66YjsPVQq0oPbxDXKIcSSZBI1cOE9qmg0fMAGB2yFcrX91LBvDiJrzyLLgxH9_y66xPgWYaQCP4H4ajJ0GuYGkSfzMCqhGDS_7kuabep6SNq9UaVSby7jnR09PkX-Lzi6CToyOF_3skhAB4gJGULaxfuGpWBBZn0h4SSLN8DCDRR1r684th8mG5umZkDmmeluI6w)

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2FyQRh1B2u4864PR6GPY4g%2Fimage.png?alt=media&amp;token=27d1244d-468e-4bd3-8358-49c2be321e15" alt="" data-size="line">=exchange ratio of FM for FCT to actual generated amount on day n

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2FmiGQuYveo6ePg4VIZApD%2Fimage.png?alt=media&amp;token=09a1cd62-35c5-4806-a6cd-dd6277fbb464" alt="" data-size="line">=Fighter Card NFT share, set to 0.05 (5%)

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2FnvCzTMTlkDfCm4OctIqo%2Fimage.png?alt=media&amp;token=b4f68a9d-6c91-42e4-bc8c-f1c6f701e695" alt="" data-size="line">=number of FCT allocated for conversion from FM on day n

![](https://lh4.googleusercontent.com/cCT08v34Wo0AllUcEn3PUcfIdxrBdAFcSEejFCWCSaHC5VtN1pAlx6PB3qMPBhrIOsPVLu1mlHCAXVdMCT4GQM4nj8lj_LYoZIjZEn6wLu9KZY2nOg4SSIWqAB1MJZTy0ZwWevehLA3HkGzq-aP5aztOINAtqibQiP8wzvqO0I4Vy9Z0BKIwHGj8L2KYGd9V0IbXjAVCHQ)

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2FYRpL4aNJ3P8oCZyMl3hi%2Fimage.png?alt=media&amp;token=aa7f5f47-eac6-4bf4-a3f5-00eada240882" alt="" data-size="line">=scheduled daily FCT allocation, set to 310,000

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2F2Gx9MjBJKeyO0WHf9bTO%2Fimage.png?alt=media&amp;token=9111752e-a32d-4f0d-ac99-fdf5eb4c8e32" alt="" data-size="line">=total cumulative FCT earned from game launch to day n, including Fighter Card NFT payout

![](https://lh5.googleusercontent.com/OGsqsKRGqP9tl4LYyiJQXEklvm2g1Q-XLlX1GbI-aEUfVS_d3sHs5oH4zoz91hqLgyCj2jXQOr8kBFIRISTo6mISkTrVed3Mma6mI12YFSgxKG4_A4fKyhruSKQkeceQ_jidl_97L6xfJeSKZxtCIi3NyfxfUdWwVhKGbau1jFRnY9CAlmN1UwfpwuWqfWZKVSatgw19rQ)

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2FX0I3bScv6zsGXGGm7NtJ%2Fimage.png?alt=media&amp;token=7d18429c-1735-4401-bd76-071ea3fb4e65" alt="" data-size="line">=actual number of FCT earned via FM conversion on day n

<img src="https://1149569807-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F7H3DqUq2ZdIjor9zBxY7%2Fuploads%2FWzTQW5Ks1euiA0pGrUto%2Fimage.png?alt=media&amp;token=a3936a3b-c075-44e7-b4e9-9f968ba3e8f9" alt="" data-size="line">=actual number of FCT earned via Fighter Card NFT payout on day n

K =ratio to be reflected on the base date for the remaining tokens that are not exchanged before the base date (ex. 0.01)

W =coefficient to constrict supply (real number greater than one)

**※ All coefficients used may be changed with prior notice in order to preserve the value of FCT**

Daily FM to FCT exchange rates will be calculated using the above formulas, with the actual exchange rate being an average of the exchange rate of the past seven days. This measure reduces exchange rate volatility.

Because of this, the actual exchange rate cannot be calculated if there are less than the minimum number of (less than 3) data points for daily exchange rate.