Life on the STEEM blockchain just keeps getting better. SMTs are going to be the gift that just keeps on giving.
@dlike announced that it is going to create a SMT based token that will be used to build their ecosystem. There will be 800M tokens total with 400M being distributed to Steemians via airdrops, using the platform, and doing promotional posts.
If you are unaware, @dlike is a posting application similar to pinterest. This is where people can post links or upload interesting pictures. Being part of the STEEM blockchain, the same content reward system applies. People can comment and upvote posts just like on any other STEEM based application. This activity can earn people STEEM from the daily reward pool.
Now, with @dlike creating a token, they will enhance the payouts by providing people with LIKES (I made that up; not sure what the token name is) in addition to STEEM.
Here we see a classic example of a system that is adding the SMT protocol to reward users for the content they create. As the blockchain keeps evolving, this is a central point that keeps being re-emphasized.
As for the rewards, according to their post it breaks down like this:
They will airdrop 80M tokens to Steemians on a 1:1 basis until the 80M are claimed. This is based upon the SP one is holding.
80M will be given to people who delegate SP to the @dlike account.
100M goes to posting and commenting. One interesting twist is that 65% of the reward will go to commenting while 35% goes to posting. It makes sense for a linking site like this will now is enhancing the payout on creativity and content creation.
40M for upvoting based upon VP not voting value. Once again, we see a design where stake weighting is not used. Here is a SMT which will pay smaller accounts the same as larger accounts.
35M for promotional activities
30M for @dlike team
20M for dRanks and @dlike contests
15M for @dlike partnership programs
The rest of the information can be found here.
They mentioned they are going to start as an ERC20 token and convert once SMTs come out since that protocol release date was not announced. I presume this was an oversight since we now have the March date of when the SMT protocol is set to go live. I would imagine that since some of the plans are looking at implementation in the next couple months, that ERC20 is still going to be done first.
Either way, this is another example of how one can earn more money on the STEEM blockchain. This application started, if memory serves me correctly, a couple months back. They already had an update to the website which changed a few things. They are striving to reward the continual users with the dRank system where people can earn bonus payouts. Having a token will only make this easier.
All smaller accounts should be looking to the different applications that we see on here. The payout is much greater than trying to fight for STEEM. I keep stressing this but it is worth saying again: all tokens created using the SMT protocol will be paired with STEEM on the DEX, hence can be swapped for STEEM at any time. This was done to provide liquidity to every token on the STEEM blockchain.
Of course, activity done in any application on the blockchain will still earn on STEEM so it is not having to choose earn SMT or STEEM; you can do both.
Over the next few months, now that a date of SMT release was set, I believe you will see a number of the other applications announce their intentions at token creation. It only makes sense for @dtube, @dlive, @zappl, and @dsound to follow suit. Even @steemmonsters will most likely add a token layer to their game.
A while back I wrote a post detailing a mental exercise of picturing each STEEM as worth $1,000. People complain that they have an account with only 40 STEEM in it. If you have 40 STEEM and it was worth $1,000 apiece, would you be complaining?
Well, here is another approach. View every single STEEM you receive as 1,000 different tokens. Once the SMT protocol is released, you will see thousands of tokens generated over the next few years. Do not be surprised if a lot of them do exactly what @dlike is doing, airdropping tokens on STEEM hodlers.
Viewing that 40 SP as 40,000 tokens provides a different picture, doesn't it?
STEEM is a system designed to compound one's account. There are so many different ways to grow an account on here. SMTs are only going to put this on steroids. We already saw half a dozen projects come out stating they have tokens coming. Many are starting to distribute even if the tokens are not liquid at this time. Growing the accounts now is a benefit of being an early adopter.
I do believe life as a Steemian is going to be very good over the next few years.
If you found this article interesting, please give it an upvote and resteem.
Charts from @dlike post.