Probably i totally understood why the luna supply exceeded max supply 1B. there should be a mechanism increase tax charge when total supply increased to stop mint luna from ust. However the tax was charged in luna. When the luna price is pretty low, the amount not counts. let’s say they suppose to charge 0.5B luna when the total supply reaches 0.9B, normally no one can pay the tax, however if the price went down to 0.00001x the tax is still low, and that’s how death spiral begins. just check the oracle in smart contract, the tax should be charged in luna or according to the price and amount of luna and is less than the total supply of luna. If the margin case exceed the total supply the network will also not inflation exceed 1B. it is a technical fault probably will lead to sue, since the mechanism not worked as white paper referred
There is no max supply of Luna. The whitepaper was correct only at launch and much had changed since then. The supply was inflationary or deflationary, entirely defendant on the LUNA/UST burn market module.
Ok then UST is not a stable coin, since i can change the definition by just voting