I don't fully get the way inflation (or slowing of inflation) works on steemit. Back at the start the rewards and all production of steem/sbd were planned to be reduced year on year until it got to an inflation of less than 1% per year, as far as I remember. Please correct me if I'm wrong.
I don't know if this is still the case (can someone let me know?) but maybe there is something to be said about introducing a transaction fee that gets sent to null for every transaction on the platform until the price of STEEM rises above a certain amount.
I think you could have a large fee for small (spammy) transactions so that if someone wants to spam you with 0.001 they pay a decent amount for this maybe 200% of the transaction (.002).
And then a small percentage of transaction size there after between 0.25% to 1% rounded up to the nearest 3rd decimal place.
It's obvious that in order to break even, some witnesses can be motivated to sell every week to pay the running costs of whatever is needed to run a witness node. Some of the selling pressure may come from people losing faith in steem or hoping to catch a BTC train and jump into ALTs again later. Other people power down and sell also to buy things in real life to benefit from the money their posts, comments and curation made.
I think others are obviously still buying but the sell pressure can be relieved a bit of there is less of an increases in STEEM due to burning it in transfers.
A further idea could be a reduction in all rewards at the next HF, production(witness) reward,curation and post rewards.
Similar to a bitcoin halvening the value might have to increase if people want it but can make less of it per day.
Long rambling post. If it makes no sense tell me why below.