DOT登上币安广场近6小时热搜第5,现货24小时涨近6%。但“21亿枚上限”不是今天就停止增发。把上限直接翻译成通缩,差了一整本账。

Polkadot official Wiki states that the stepped issuance implemented in 2026 will reduce the additional amount every two years; the network will still mint coinbase rewards to validators and replenish the treasury; and the coins paid for core-time will be burned. One is new issuance, one is destruction—net supply has to be the difference between the two sides; you can’t just pick the convenient side to talk about.

The change to the supply cap of $DOT alters the long-term issuance schedule, not proof of current net deflation. Only if on-chain actual burn amounts exceed total new issuance amounts over multiple consecutive cycles in the same period, and total supply keeps falling, would this explanation need to be changed.