SteemCoinPan - the new kid on the block(chain)

The thing I love about the Steem block chain is that there is always so much happening. No matter whether its a new game, new dapp or new token, I'm always on awe of the new developments and people's creativity in making this a much more interesting place.

A couple of days ago I learnt from @travelgirl about a new token called SteemCoinPan. This is a token developed by a group of Koreans, namely

@jack8831 aka @sct.jac
@kopasi aka @sct.kop
@tommycoin aka @sct.tom
@bizventurer aka @sct.biz

The token SCT is available on Steem Engine or you can earn them by posting on the Steemit platform like you normally do. You have to use #sct and you're supposed to post block chain or crytocurrency related articles only.

Your post will be like a normal Steemit post, no change there. But if you go onto https://www.steemcoinpan.com/ you will see the payout listed in SCT instead of USD. These SCT payouts are from people upvoting you based on the value of SCT tokens they hold. These posts are only a couple of hours old but the payout for some of the earlier posts was over 1000 SCT!

SCT is currently trading at around 0.8. You'll notice there are quite a lot of sell orders as post payout is three days for SCT. The first payout was yesterday.

The other major difference between SteemCoinPan and Steemit is that payout is 50/50 instead of 75/25. This is of course great news for curators, and recently I have seen some discussions on Steemit about this topic. Who knows if this is the future direction of things to come?

At the moment, SCT is still very Korean dominated as can be expected. There aren't that many English posts but from what I'm seeing in the past few days they are starting to drip through. Let's hope it will gather momentum. Any initiative that encourages activity on the chain is always a good one.