Exchange Rate Model

The formula is as follows:

$$exchangeRate = \frac{TotalActiveBonded + TotalStake - TotalUnstake}{sToken Issuance}$$

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• TotalActiveBonded, include all derivative accounts' active bonded amount on relaychain.

• TotalStake, including the total stake amount by all users during the current era.

• TotalUnstake, including the total unstake amount by all users during the current era.

• sTokenIssuance, total issuance amount of sKSM/sDOT