Update on SMTs Listing Agreements with Daybit Exchange; Listing of Temporary SMT tokens A good Staunt Prior To the SMTs launch.

There are lots of dapps and projects currently on the steem blockchain and more still being worked on. The direction of these dapps is towards the SMTs. News regarding the launch of the SMTs have been on since early last year and we are gradually getting closer to the scheduled launch date. The SMTs will first launch a test net before the main launch.

While waiting for this, different dapps and communities have been working towards creating a better condition for their community projects and tokens upon the launch of the SMTs. Some dapps like steemhunt have already carried out token creation and have long begun distribution of these tokens to community members.

Steemhunt has taken a step critical to the future of the SMTs. One of the major problems any project face is project funding. For a blockchain project, funding can only be achieved if the project token can be traded or exchanged. The token should either be exchanged with for fiat (local currencies) or larger/more adopted cryptos (e.g, bitcoin and Ethereum).

Updates on Daybit Listing

Sometime two weeks ago, steemhunt initiated talks with Daybit exchange (owned by Chain Partners, the biggest blockchain company in Korea). About ten days ago, steemhunt made a Memorandum of Agreement with Daybit exchange for Steem, Sbd, and SMTs to be listed. Agreements have been made to;

• List SBD and Steem
• Create Steem trade pairs for temporary SMT tokens (E.g, ERC 20 tokens)
• Support swap to main SMT tokens.
• Support fundraising for those temporal SMTs via IEOs (Initial Exchange Offerings)
• Create Fiat currency trade pairs for SMT tokens with large trading volume.

Source

Looking at these agreed terms, you would see that they create a means for funding of SMTs and a means to achieve token liquidity. Steem trade pairs would also allow for easier investment into these SMTs by steem holders. Steem has one of the biggest communities on the blockchain, with a large number of token holders. Funding goes a long way in aiding a blockchain product in building a perfect token economy. Plans are still being carried out to achieve better funding and more listings on bigger exchanges.

Some other steem dapps with their own SMT-based tokens have shown some interest in getting their tokens listed when this goes through. Interested dapps include:

• esteem
• actifit
• utopian
• fundition
• Dclick
• Fundition
• Tasteem
• Tripsteem
• nTOPAZ
• dlike
• Kpop steem

This is a good sign of support for the idea. The plan here is to create an easy path to listing for future SMT tokens and not just the current temporary SMT tokens.

Further progress with @coingecko.

Coingecko has since shown interest in taking part in any way they can towards the successful launch of the SMTs. At the beginning of the year, when @steemhunt initially announced plans to list the hunt tokens on an exchange market, coingecko showed a willingness to support via a comment they made.

Coingecko, which is a very popular and renowned cryptocurrency ranking website is currently in discussions with the steemhunt team to list the SMT tokens in their ranks for appropriate tracking. This would be a good way of tracking the price, trading volume and the market cap of the listed tokens.
To help create a better launch ground for the SMTs, @coingecko are currently in discussions to aid in the following;

• Integrate the Daybit exchange market into the coingecko system. Tracking statistics will be gotten from the Daybit exchange market.

• Support listing of SMT tokens on Coingecko

This would also create a little bit of more exposure for the SMT tokens and would serve as an easy monitoring tool. Coingecko has a friendly user interface and token tracking is quite easy with it. Also, listing on coingecko is kind of a token validation, like a proof of a non-scam token. So it's a double win for the SMTs.

Other Plans For Funding

A new initiative, known as SBA (Steem Business Alliance) was just formed on the steem blockchain through collaborative efforts of different dapps, steemhunt included. The aim of this alliance is to strategize means to attract more businesses to the steem blockchain. It is also intended to attract new investors utilize and adopt the steem blockchain.

Source

Attracting more investors to steem is a great strategy for the general success of the SMTs. This way, the new investors could also show support for SMT-based tokens and invest through the steem trading pairs that will be available on Daybit.

Currents Members of the SBA are @steemhunt, @utopian-io, @steempress, @fundition and @oracle-d. The official steem account of the SBA is @steemba.

Advantage of The SBA

This alliance would pave way for joint development of the steem blockchain through some shared resources and knowledge. There has been a major problem with the emergence of new projects with the same use-case as an already existing project. This alliance would create a coordinated effort towards further growth and new ideas rather than repetition of the same idea by different dapps.

The Recruitment of new investors/businesses to the steem blockchain with also help boom the price of steem token and a bigger reward pool for steemians.

CONCLUSION

It is great to see the steem dapps working together towards the successful launch of the SMTs. Their collaborative efforts to push the temporal SMT tokens into the crypto space before the SMT launch will create for easier mainstream of the tokens upon SMTs launch. As a big fan of Steemhunt, it's good to see their active roles in pushing for these amazing ideas.

Click here to vote for Steemhunt as a witness and support their work.

Thanks for Reading

Links

Project Repository: https://github.com/Steemhunt/web

Github Profile:
https://github.com/tony-duke

Resources : All photos were properly linked.