Not in a literal sense. ETH is still awarded (and can be adjusted as it can on the PoW chain) but plateaus around 10MM ETH staked. The more people that use the

Not in a literal sense. ETH is still awarded (and can be adjusted as it can on the PoW chain) but plateaus around 10MM ETH staked. The more people that use the network the more ETH that's being burnt due to gas (operation, practically 'network') fees. So Ether's (in/de)flationary behaviour is a consequence of multiple factors: network consensus participation (mine or stake), network utilisation (burn due to gas fees for using the Ethereum VM), and network parameters (block or epoch reward)