SMTs, Steem-Engine, And Actifit

There is a lot of discussion about Steem-Engine and SMTs. Yesterday, I posted about how they will not be in competition with each other. Rather, because of innovation, we will see them actually being complimentary assets for the Steem ecosystem.

Now, we have another entrant into the arena.

In their latest post, @actifit announced they now developed a new token, AFITX, which will apply to the Actifit Exchange.

This is monumental news, the fact that an application is going to be creating an exchange to offer its users the ability to convert tokens.

Actifit is one of the leading applications since it started a little over a year ago. Over that time,we watched this team be consistent with their updates and show total dedication to the Steem community. It is good to see them take another step forward.

Here is what they wrote about the exchange.

Based on our recent partnership with Steemzzang and Sports talk social, and our increased integration with Steem-engine based projects, and as the Steem ecosystem still does not have enough coverage nor exchange platforms, we decided that it makes sense for Actifit to aim for developing a parallel endeavour that goes along our key Actifit focus, while enabling the use of AFITX as the core of our exchange functionality, enabling exchanging other Steem-engine tokens and STEEM amongst each other.

They are starting to provide stacking to the application with users getting paid in a number of different tokens. This means wallets are filling up. Providing actifiters with a simple way to exchange them only makes sense.

Presently, the Actifit application allows people to view their balances from the website. This shows not only what is held in STEEM but also the Steem Engine tokens that are received by using the Actifit application. Soon, people will be able to swap them out.

The post did not contain to many details but I am going to guess the exchange is the Steem-Engine back end DEX which hosts the tokens presently. This means the team will build another front end to access it.

This is a very important point. With all the scrutiny coming down, being as decentralized as possible is crucial. Having another way to access the DEX, if for no other reason than as a back up to Steem-Engine could be a life saver. We never know what will happen down the road.

Once again, the temptation is to think this provides competition to Steem-Engine. Actually, they are apples and oranges. Steem-Engine is a looking to be a full feature exchange. This means the innovation and updating will be with that end in mind.

The Actifit Exchange, from the way it is being presented, is part of a larger focus. I look at this as more of a service provided as opposed to being a major component. The token that is created could be akin to the ENG token although it provides different functionality already. The AFITX is already necessary to move the AFIT tokens over for conversion.

Even if the exchange did evolve to the point where it was able to swap all tokens on the DEX, I doubt it is intent on becoming a full blown exchange that offers securities along with KYC to ensure compliance with different regulators. Essentially, I view this as a utility aspect to the application as opposed to a digital asset generator.

The other exciting part to all this is that the AFITX token, which is being airdropped on the AFIT holders, enables the moving of 100 AFIT per day (for each AFITX dropped) to the Steem-Engine platform. This means that the token will be "live" for trading. Ultimately, we will see price discovery taking place which will provide a market value on it.

Through the Steem-Platform, one can now get AFIT for walking and convert them to SP if that is the desired outcome. This provides smaller accounts with another way to get SP to add to their balances.

Watching projects expand and grow is very exciting. It is easy to fall into the trap of wanting to see things develop overnight. Unfortunately, the world of coding does not work that way. We are witnessing the different layers being erected, just like a brick wall. Each new layer is put on top of the other.

Actifit is showing how, over time, the progress can be remarkable. The key is not to focus upon where things are today but, rather, a year or two from now.

This year has been stellar for the Steem ecosystem in terms of the development that is taking place. It will be fun to watch the second half of the year unfold.

Amazing times are upon us.

The full @actifit post:

https://steempeak.com/actifit/@actifit/actifit-major-announcement-move-afit-to-steem-engine-afitx-our-new-exclusive-token-announced-detailed-dive-airdrop-announce-daily-updates-1564670685752

---

If you found this article informative, please give an upvote and resteem.