I’ve mostly seen chips treated as a unit-less or self referential unit: white is 1, red is 5, etc. 1 or 5 <whats> is irrelevant if you’re playing tournament style play. At the end the top x% of players get a scaling percentage of the actual monetary pool. Now if you’re playing where you can cash in and out at face value at any point then using chips in a 1:1 mapping to currency would make sense, but it should still probably be fixed rather than each chip being able to change value based on number of players or the size of the pool.
