Because there will be 9% more tokens in one year than today it effects the calculation for the market cap. If there was no inflation, Steem at $100 would have a market cap of around 26 billion at its current token supply but in a year it will need a market cap around 29B to achieve $100
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Gotcha, I read in the white papers that the inflation rate decreases each year then eventually stops. We’re you able to calculate the amount of tokens once the inflation rate stops?