> For the complete documentation index, see [llms.txt](https://docs.metaarena.world/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.metaarena.world/english/meta-arena-token-usdmeta/exchange.md).

# Exchange

※Exchange policies may change without prior notice, and any changes will be communicated through announcements. 

## Exchange (Token)

$META can be exchanged for META through the Exchange, and $MST obtained as skating rewards can be exchanged for in-game currency, Avatar Summon Ticket.

###  Exchange Rate

$META and META can be exchanged at a 1:1 rate.<br>

### Fees

A 5% fee is incurred when exchanging in-game META for $META. This fee is reinvested for ecosystem maintenance costs, including transaction fees. No fees are incurred when exchanging $META for in-game META.

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**Exchange (NFT)**
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Through the NFT-exclusive Exchange provided on the META ARENA website, players can tokenize Avatars or in-game items they own in the META ARENA world. Conversely, they can transfer these assets back into the game world.\
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Players can exchange Avatars they own in the META ARENA game world for NFT Avatars at any time, and NFT-tokenized Avatars can be traded on the Marketplace.

## Exchange (META POINT)

The META Point Exchange is provided within the game and supports the exchange of META Points, acquired through adventures and daily missions, into META.<br>

### Exchange Rate

The exchange rate is determined by the cumulative quantity of META Points in the game and the daily distribution of $META from the Game Reward Pool to the Exchange Pool. This exchange rate is updated daily at a specific time.

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The exchange rate is increased when the circulating META Points increase with more in-game players, and the exchange rate is decreased when the circulating META Points decrease with less in-game players.\
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For instance, if 1 player (DAU) acquires 200 Meta Points on the first day, and there are 10,000 $META distributed to the exchange pool, the exchange rate may vary as below for the first day's players (DAU).

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| Case | DAU   | Total in-game META Points | <p>Token Pool<br>(Exchange META Point)</p> | META Point:META (Exchange Rate) |
| ---- | ----- | ------------------------- | ------------------------------------------ | ------------------------------- |
| 1    | 100   | 20,000                    | 10,000                                     | 2:1                             |
| 2    | 500   | 100,000                   | 10,000                                     | 10:1                            |
| 3    | 1,000 | 200,000                   | 10,000                                     | 20:1                            |

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### Exchange Limit

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The initial exchange limit for \[META POINT <> META] will be adjusted based on the exchange rate and the stabilization of the in-game META supply, starting at 100 META / player per day and gradually easing over time.

* As of January 19, 2024, the daily limit for players has been increased to 10,000 META.

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