Lower staking rewards reduced issuance, while higher gas fee burns slowed net supply growth. Burns still offset only about 10% of new issuance.
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Aptos reduced the annual net growth of APT supply by about 70% after approving an emission limit, blocking tokens and lowering the stake rewards. The adjustment brings the network closer to deflation, although the above-mentioned report warns that the burns still do not compensate for the tokens issued.