Was wandering if someone could clarify to me what would happen once ADA’s max supply is reached?
Nothing special will happen.
How would the reward system/ staking work?
The same as before. Once staking starts, stakeholders who provide computational, storage and network resources to the platform get paid from two sources, and so does the treasury:
About 13 billion ADA remains to be minted. Although the exact parameters are still under research and review, I’m guessing that the rate of minting will decrease over time. This would mean that in the end stakeholders and the treasury are paid using only transaction fees. Minting being stopped will be seamless, as rewards through minting are slowly, gradually decreased and not suddenly taken away.
Would some of the coins have to be burned?
No. Why would they?
Would supply limit have to be raised?
No, but the community can vote to do so, if it makes sense at the time. The 45 billion ADA cap is completely arbitrary.
Would it affect decentralization?
No, because node operators and stakeholders are still properly compensated.
Since the need for currency is in trillions, what would happen to the value of ADA?
The reduction in supply would make the price rise in the long term, if demand stayed the same.