oh, i see - ok. SMTs are mainly a way for websites to integrate Steem into them, so that when posts are made on the site, such as blogs or comments - the post/comment can be result in a payment just as it does on steemit.. However, I think this only makes sense if people are willing to invest in your SMT at the start to get the value of the tokens up and to make the payouts worth something. I might be wrong in my logic of that though, since I haven't finished reading yet. ;)