The date is set for March 2019 for the release of SMT's on the Steemit platform.
I am looking forward to this as users have been waiting over a year for this to happen. All the Dapps that run on the Steemit blockchain will release tokens against the value of Steem. They will have some value but will obviously be small at the time.
This will attract new users into the different communities that are being set up and will all be part of Steemit. The more popular the Dapps become with their tokens the scarcer Steem will become. This will force the price of Steem up as it would be tied up in the Dapps tokens.
More investors will arrive seeing the opportunities that we all see already. it will take time but the number of users will go through the roof as more and more people become aware of Steemit.
there is talk that users could delegate some of their Resource Credits to new users on a lease basis making money from this. This wouldn't effect your voting power as that would stay with your account.
- Firstly, STEEM will transition to being a purely network resource token. It will be treated as gold and rarely moved around.
- Then we'll see all kinds of tokens being created, but the most interesting ones will be attention tokens. I mean, tokens that have utility value for getting content in front of people or getting people's attention. Like advertising, boosting content, etc.
- We will also see uniques tokens that enable you to do something unique on a platform. Like a dApp that allows you to have an AMA session with someone, and you only pay in that token. Or a token that's tied to how much time you spend on a dApp and has an extra use case of buying someone's time to hold a meeting or consultancy or whatever.
- The possibilities become endless and all these dApps and tokens will need STEEM POWER to have enough network resources to perform transactions.
And of course, STEEM will increase in value.
There will be bugs in the software causing problems for a while before they are fixed. This will cause a lot of crying and hollering but it will pass when the developers fix them.
When all the kinks have been worked out, those dApps that have tokens of their own, now existing as ERC20 tokens or centrally administered will transfer them to Steem to exist as SMTs. There will be an internal market for the tokens and they will be actively traded. If and when the system will prove to work smoothly, even more apps will release tokens of their own. Within 1-2 years, there will be an abundance of tokens most of which will be airdropped to SP holders or the dApp users. An era of tokenized living will commence.
Well hopefully it will change how the steemit economy works.
From what I understand you will be able to trade SMT's on the steemit dex, but it would be a separate dex to the dex for trading SBD and Steem.
Well for one a few things will happen.
Let's go over what will happen:
1. All the projects that plan to make use of SMT's like: Steemhunt, DLike etc will have to move their current tokens from ERC20 tokens to SMT's. Not sure how that will work, but they would have some code to automate the process or the will issue the users with instructions on how to do this.
2. Each project will have to find a way to make SMT's work with the steemit economy. For example they should try run services for example a bidbot that accepts SMT's in exchange for votes. Or for example if Steemmonsters were to do a SMT they would probably allow you to buy booster packs with the SMT. With no actual financial use for an SMT it will be hard to place a value on it.
SMT's are gonna make or break steemit in my opinion.
Either gonna be a huge success or a huge fail that doesn't meet the expectations of the users of steemit.
What will mostly happen(and is what most people expect to happen) is that days after SMT is released, the price of Steem in the market will increase.
Why? Because Apps/Platforms developed under the new SMT model will require them to hodl a significant amount of Steem Power (more likely the reason is related to Resource Credits)
Take for example Appics. If I am not mistaken, in order for Appics to create their own token that will be based on Steem they will first need to own some SP on their account.
Since there is now a demand for liquid Steem in the market and if we are lucky, many dapps or platforms will also try the new SMT model, the price of Steem will surely increase since developers need to hodl a significant amount of SP in order for their dapp/platform to work under the new model.
More demand for Steem = Increase of price in the market
Well all the Steem Community is eagerly waiting for the launch of SMT in March 2019.
While things are now speculative but as far as seen the communities are growing and creating their base as strong as possible and they are making the user interaction very much and creating a connection with them constantly by engaging with the community and by rewarding them as well.
While this will allow every community that is built on Steem Bockchain to have their own official Token and they will create their own way of using them. So like Steemit there will be whales,dolphins and others in their community depending on the tokens they have. So the early adopters will have early advantage.
The user activity will increase as because we will have different communities and they will do their best to bring new users to Steem Blockchain. Which means new investors and publicity as well.
As a result of that we might see a rise of price in Steem.
I am not a prophet or a fortune teller but i know for sure that a successful SMT by steem will cause an increased demands on the steem blockchain and that would make the price of steem to rise in value,that is why i believe that now is the best time to invest on steem so that we can make profits whenever the steem value goes higher after a successful SMT adoption...