My understanding of the SMT White Paper is that the creation fee of SMTs will be equal to the nominal value of 1 SBD, interchangeable with an equivalent USD amount of Steem:

"Issuing a smt_create_operation requires payment of smt_creation_fee. The amount required is set by the smt_creation_fee field of dynamic_global_properties_object. This field may contain a value in STEEM or SBD. If specified in SBD, an equivalent amount of STEEM will be accepted, at the current price feed. Initially, smt_creation_fee will be set to 1 SBD, and no means will be provided to update it."

Is this understanding of the cited language on page 14 of the white paper accurate? On a similar note, what is the reasoning behind initially setting the SMT creation fee to 1 SBD rather than 1 Steem?