Is STX deflationary?

Could you please clarify for me whether STX is considered a deflationary asset? I'm trying to understand the economics behind its tokenomics and how it might affect its long-term value. Would you mind explaining how STX's supply and demand mechanisms work, and how they might contribute to a deflationary trend? Also, are there any specific factors unique to STX that make it stand out in terms of its potential for deflation? I'm eager to learn more about this aspect of the cryptocurrency.