If you've been hanging around Steemit for some time you may have heard of the term Smart Media Token or SMT for short. A lot has been made of the launch of SMT which has been delayed for some time but now looks to be back on track and it's got quite a few people excited about this new development.
Once SMT's launch STEEM will have its own native token system like Ethereum, Tron and EOS which will allow individuals and companies to create their token economy or business on the STEEM blockchain.
Why SMTs?
SMT's will look to take the pressure off STEEM in terms of development and provide independent businesses with the opportunity to create reward systems with the underlying technology but change the way it works to suit their needs and community.
These communities would need to hold STEEM to create SMT's meaning plenty of STEEM could be removed from the open market and held by dapp owners and businesses who want to run an SMT and reduce the amount of liquid STEEM on the open market and hopefully improve the price of STEEM and create a more stable demand for the coin.
How will SMT's work?
Once SMT's launch new dapps and sites can be created that can copy the steemit system or refine it to work for them and reward their users using their own token. Users will then be able to take those tokens and trade it for STEEM, SBD or other SMT's on the internal market.
This will create unique trading pairs against STEEM and provide added opportunity to trade with STEEM or against STEEM without ever leaving the ecosystem. Imagine being able to trade cryptocurrency but owning the keys to your own wallet.
Are you excited about the launch of SMTs?
Thanks for the explanation, interesting
!ENGAGE 100
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There has already been too much
ENGAGEtoday.To view or trade
ENGAGEgo to steem-engine.com.On steem engine, you can already see how it works in real life.
!ENGAGE 100
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There has already been too much
ENGAGEtoday.To view or trade
ENGAGEgo to steem-engine.com.Great! This is exciting! 😍
!ENGAGE 50
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There has already been too much
ENGAGEtoday.To view or trade
ENGAGEgo to steem-engine.com.Can you provide more context or elaboration on these Smart Media Tokens? And won't these different communities just drive us away from steemit?
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Soon we see how it works ... I want also see what they make :)
!ENGAGE 100
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ok ...ok :)
There has already been too much
ENGAGEtoday.To view or trade
ENGAGEgo to steem-engine.com.Thanks for the information, I was looking for it.
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Hope earlier will happened
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!ENGAGE 50
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There has already been too much
ENGAGEtoday.To view or trade
ENGAGEgo to steem-engine.com.Interesting and confusing at the same time.
!ENGAGE 100
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There has already been too much
ENGAGEtoday.To view or trade
ENGAGEgo to steem-engine.com.@purepinay, Well explanation about SMT's. I'm really exciting about launch of SMTs. I believe SMTs bring huge value.
It would have been nice to have discussed this project in more detail, but it is not well understood
Yeah, and SMT is a really great help especially to the planktons like myself.😊
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Go Go Go SMT 💙
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I so am excited about itttt 😊😊😊
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SMTs letters that fill our eyes to want to continue learning and discovering in this interesting ecosystem, we pray that these changes are for the good of all. Happiness always friend @purepinay
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Hi, @purepinay!
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Congratulations @purepinay!
Your post was mentioned in the Steem Hit Parade in the following category:
Thats good news.
Is that true that you have in the Philippines Bitcoin ATMs?
Thats good news.yeh you are gret,,,,,,you help me i am steemit a new...