Yes. Steem is created at a fixed STEEM per second until the STEEM per second falls to 100% annual growth. Each day the "inflation rate" is falling because the supply is growing relative to the rate, just like in Bitcoin. This "rate" stops falling once it hits 100% annual growth (doubling every year and then resetting).
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Soo.... There is or is not a reverse split at all? I get everything else, but I'm still having trouble with that part.
@are-you-mad There is a reverse split every three years.