Smart Media Tokens and Steem Dollars
Hi Steemers,
I'm a passionate blockchain advocate for years but new to the Steem ecosystem. The cryptoeconomics behind it are really thrilling!
I'm researching smart media tokens for a future project and was philosophizing about the relation to Steem Dollars. When you earn reward on the original Steemit platform, you can choose to earn reward in SP and SBD 1:1. The amount of SBD earned is dependent on the current Steem price feed as published by the witnesses.
There's no such thing for SMTs as far as I understand. So I'm wondering if there are any plans to add similar functionality to SMTs? I could imagine a solution like the following: If a SMT reaches a certain popularity, witnesses start publishing price feeds for the SMT and then content creators can choose to earn Dollars and token 1:1, just like with Steem. In my opinion this would also be mutually beneficial for the stability of the Steem Dollar, because now SBD is not only a convertible note in the Steem ecosystem (as outlined in the Steem whitepaper), but additionally in the token ecosystem.
Now an interesting question is, should you be able to convert SBD into any token for which feeds are published or should there rather be an SMT Dollar introduced for every SMT. If you apply the 10% debt-to-ownership ratio rule like currently in place with Steem itself, the first option could be feasible.
Let me know your thoughts!
Welcome aboard! I think you'll fit right in. Make sure you hit the chatrooms on steemit.chat. You'll probably be a good fit for #price and #witness for starters. Then again, you're probably already a user here and this is a second or third account. But just in case you are new, hope you have a good time here!
Thank you :) I am a new user indeed and have just started researching steem a few days ago. I'll check out the chatrooms you mentioned!
Let me know if you have any questions on how to get around!
Congratulations @blocksource, you have decided to take the next big step with your first post! The Steem Network Team wishes you a great time among this awesome community.
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