Ethereum (ETH)
Ethereum has the unusual property that its money supply shrinks when the network is busy and grows when it is quiet. Since August 2021 the protocol has destroyed the base fee on every transaction rather than paying it to anyone. That makes ETH issuance a function of demand for blockspace, which is a genuinely different design from a fixed schedule. It also means the mechanism can run in reverse, and in 2026 it has been doing exactly that.
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