Yeah so what will be the reson STEEM will have more value with introducing SMT.. you don't need steem to create or have it circulated.. so I see a lot of enthousiasm but not an real answer to this question...
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STEEM is the conversion gateway for these tokens. When you issue a token, you crate a pair MYSMT/STEEM, so if people will want to buy your token, they'll do it via STEEM. Makes more sense now?
@dragosroua can you help me understand exactly how this will work - or point me somewhere that I can read about it? Will SMTs be tradable on crypto exchanges? If I want to purchase some SMTs on an exchange (like any other cryptocurrency or token) then where does STEEM come into play?
Eth will always be at least needed for the gas price but since there are no transaction fees with Steem I don't see how the STEEM token is involved in supporting SMTs.
It's not yet clear how the external exchanges will play out. My hunch is that those market makers introduced at the end of the white paper will play some role in it, but I may be wrong.
Ah ok, that makes sense and now I think why I didn't see that... off course then STEEM wil grow..
Thanks for explaining this.