What about this Steem SMT ICO distribution idea @acidyo:

Instead of investors having to buy the SMT token, the SMT contract would automatically distributes a stake proportional amount of SMT tokens to the Steem accounts that delegated SP to the SMT Steem address every day or week? This could be a new model for raising funds from startup ICOs.

The SMT contract would have to have a max number of ICO tokens set for distribution to SP delegators, as well as a distribution timeline for the SMT tokens. The SP delegators/investors would have to have available to them the SMT token statistics such as max tokens cap limit, inflation rate, allocation of tokens to the SMT team reserve fund, and project mission statement/milestones/team information, etc.