Track Timecode
The timecode FPS format that the timeline is represented in is, by default, defined by the project refresh rate.
The timeline has the following timecode FPS when the associated project refresh rate is selected:
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60Hz - 30FPS
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50Hz - 25FPS
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59.94Hz - 29.97FPS
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48Hz - 48FPS (not a SMPTE standard)
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47.96Hz - 48FPS (not a SMPTE standard)
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30Hz - 30FPS
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29.97Hz - 29.97 Drop frame
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23.98Hz - 23.98FPS
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Anything else - 30FPS
This can be overridden by creating a timecode transport, LTC or MTC, in the current transport manager and setting the FPS. The timeline will display in the FPS of the current transport managers timecode transport FPS if it exists.
All keyframes are created in absolute time in seconds and are not bound to any specific frame index. Changing the format that the timeline is displayed in does not change any keyframe times, and so keyframes that did appear on frame boundaries may not appear correctly on those same frame boundaries once the timecode FPS has changed. Therefore it is a good idea to set this correctly before you start sequencing.