After the UNI supply broke through 900 million tokens, the market did not experience the expected upward momentum; instead, it entered a period of continuous adjustment. Is this due to natural market fluctuations, or is the inflation mechanism established five years ago playing a role?

According to the original plan, UNI would be increased by 2% annually for ecosystem operations and incentive subsidies. This mechanism was initially designed to ensure the long-term operation of the protocol. However, the trend seems to be changing—the community has recently been pushing for a shift towards a deflationary model, aiming to improve the token's value by reducing supply pressure.

The key question is: does the old inflation plan still need to be continued? Will this proposal be formally put into the governance process? Currently, there are no clear signals; everything awaits next month's developments. Adjusting the token supply policy may seem like a technical issue, but it directly impacts holders' expectations and market sentiment. How to proceed with this step could be more important than many people imagine.