Really enjoying the end of year "state of the nation" type series, especially as a newbie to Steemit trying to catch up. I really appreciate the simplified nature of your explanations. That said, have you done or are you planning to do an explainer of the new SMT system? I understand it somewhat, but the thing I have always struggled with when it comes to "tokens", especially these Steem based SMT's is how they relate to STEEM/SBD/Steem Power, if at all.
Might be that this is all new territory so it's a bit unknown, but since the value of STEEM is a "known quantity", how would one value these tokens outside of the platform utilizing them?
Apologies if this is a bit dense. Looking forward to more awesome stuff from your team!
That's a very valid and excellent question @gyrosean! Here's the Steemit Inc. whitepaper on SMTs. It'll help get to the roots of those questions.
To be honest, we don't have a full picture of what SMTs will look like either / how they'll be constructed off of the existing Steem Steem-Power SBD system. We believe that they'll act similarly to ERC20 tokens.... an ERC20 is to Ethereum as... an SMT is to Steem. (Steem being the backbone for everything.)
https://smt.steem.io/smt-whitepaper.pdf