> For the complete documentation index, see [llms.txt](https://bitcoin-munari.gitbook.io/bitcoin-munari-whitepaper/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://bitcoin-munari.gitbook.io/bitcoin-munari-whitepaper/tokenomics-and-distribution/deflationary-mechanisms.md).

# Deflationary Mechanisms

While BTCM has a fixed supply, several mechanisms create deflationary pressure:

**Transaction Fees** - A portion of transaction fees on the mainnet may be burned, reducing circulating supply over time.

**Validator Requirements** - Validators must lock BTCM tokens, removing them from circulation.

**No Inflation** - Unlike proof-of-stake chains with infinite inflation, BTCM supply is permanently capped at 21 million.