In the below two graphs it is verified on-chain that the values of minted UST and burnt LUNA are in complete correlation hence proving the UST-LUNA mint/burn mechanics

In the below two graphs it is verified on-chain that the values of burnt UST and minted LUNA are in complete correlation hence proving the UST-LUNA mint/burn mechanics

The below graph shows an interesting trend:

The Line charts of Net Luna burnt and Net UST burnt are a mirror copy of each other. Thus, further confirming the UST-LUNA correlation and mint/burn mechanics

UST-LUNA mint/burn values below:

• These two graphs above show clear demand for UST as the NET UST burnt is in negative
• Luna is being burnt way more than being minted as seen in the second graph that Net luna burnt is always in positive.

This confirms that LUNA has incredible deflationary mechanics. That implies, whenever there is a demand for UST, LUNA is burnt - decreasing the LUNA supply.

Conclusion

• UST Minted = Luna Burnt
• LUNA Minted = UST Burnt
• UST-LUNA mint/burn mechanics are hence proved with on-chain analytics
• $LUNA tokenomics are deflationary if there is demand for UST.

Note: UST-LUNA mint/burn mechanics only apply to "Market" swaps on terra station wallet and don't consider Terrasewap and Astroport platforms as seen below

More UST-LUNA mint/supply/burn analytics can be found here -

https://app.flipsidecrypto.com/dashboard/wen-moon-egBAed