Can the IC become deflationary?

Thanks for that clarification, @Dylan. To help alleviate some confusion, the title of the first chart should probably be something like “Maturity (Unminted Voting Rewards Excl. Maturity Modulation)”. The focus of this graph per the Y-axis label is simply cumulative “Maturity”, which is a subset of cumulative “Voting Rewards”. The “Excl. Maturity Modulation” addition is somewhat implied, but I think that clarification should be added too in order to avoid any potential misinterpretation.