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RE: It's Already Happening Right Here On Steemit! The Future Is Here! POCKET TOKENS!
To cut a long story short, basically they shall be what the ERC20 category of tokens are on Etherum but here on Steemit it shall be called SMT.
That is a very short and basic comparison to make it simple to understand.
Subtokens is another word for it = various tokens that exist on the existing Steemit blockchain.