Today I tried Steem Engine for the first time. Using Steem Keychain to log-in, I was able to sell some tokens built on the platform and exchange them for Steem. The service worked as expected and they took a 1% withdrawal commission, I am now a few airdropped tokens poorer and a couple of Steem richer!
The website https://steem-engine.com is relatively user-friendly, attractive and easy to use. You log-in with Steem Keychain, an app created by @yabapmatt which safely stores your active keys. Once you are connected, you can look into your wallet, buy, sell and create smart contracts. I noticed there aren't many users, especially buyers. Inevitably most of the tokens will go to zero but some of them, which represent a future claim to value may go up. Not that I am suggesting you invest in any token here as you will probably lose your hard earned Steem.
Creating a Token With Steem Engine
It doesn't seem very difficult to create a token, you buy 100 ENG tokens (1 ENG = 1 STEEM), fill out a few parameters and you have your token. Anyone can create a token who has a Steem account and 100 Steem ($35.00 at the time of writing this.) So be careful as many of them will be absolutely worthless and useless.
Legal Advice
Steem Engine also offers legal advice when creating tokens or for launching Crypto projects, for more information you can read about it here. I can't comment on the quality of the advice or the validity of it, however, I applaud their efforts. Many projects, ICOs, Tokens, sidechains etc. we've come across could really benefit from legal advice. I am not a legal expert but have seen blatant violations of the law especially with some casinos and gaming sites.
Summary
@steem-eng is clearly working on making the blockchain a better place. The witness @aggroed manages this project. Developers include @harpagon and @yabapmatt. The support team includes @crystalhuman and @clayboyn. Other well-known Steemians are also included in this project. With time I expect Steem Engine to grow and flourish. The fact they are promoting legal advice makes me think that only good will come out of this. I've seen a few people doubt this service and are waiting for Steemit to make SMTs but upon a closer investigation, I am a fan and will keep a close eye out on Steem Engine.
Great post @crypticat - I am extremely optimistic about the future of Steem thanks to Steem Engine. In fact, before Steem Engine came along and before I got involved in the project, I was becoming disenfranchised about Steem and not really optimistic about the future.
And it's crazy to think, this is just the beginning. The Steem Engine project has a lot of exciting features and additions planned well into the future. Eventually, it'll be at the point where Steemit will deliver SMT's, but Steem Engine will be so far ahead that Steemit Inc will not even be able to catch up.
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I'm glad some competent individuals are taking over the development of the blockchain. There are a lot of great projects coming up. I look forward to seeing more from you and your team and have followed you and steem-engine to keep in the loop.
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Magic Dice has rewarded your post with a 34% upvote. Thanks for playing Magic Dice.
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You have receive an upvote. Thanks for playing moonSTEEM
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Thanks for making this post :)
Steem Engine is fantastic!
I'm working hard to come up with some new incentives for people to want to buy/hold/use the token I created called SMPT. These changes might come with a complete re-branding along with a new set of tokens completely, due to the Steem Monsters re-brand to Splinterlands.
If you're a Texas hold'em player, Steem Monsters player, or HODLer, I will be aiming and working hard to make SMPT (or it's replacement token) one of the top tokens on the Steem-Engine market.
In fact, just today I gave out the very first 1-month HODLer rewards for people who are holding the req'd amount of tokens. @sharkmonsters got himself an Alpha Edition (Legendary) Lord Of Darkness Steem Monster, and @alex-hm got an Alpha Spineback Turtle. JUST FOR HODLING TOKENS
There are a couple of semi-secret projects in the works right now as well that I'm not at liberty to speak about, but it involves Steem Engine tokens and I'm pretty sure SMPT holders will be quite happy about it.
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I would be up for a game of hold'em, what tokens must we hold? I prefer to power up my Steem if that counts as HODLing. Good luck with your project!
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https://steem-engine.com/?p=market&t=SMPT
Here's the link :)
You can find the info here :)
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Curious how many gambling dapps will use it.
Epicdice is there just as Kryptogames.
Magicdice is against it. No idea about steem-bet.
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Well I think their legal expertise scares MF and SB away. These Gambing sites are illegal in certain areas but operate everywhere for everyone with zero due diligence. Until Magic or SB can give a detailed explanation of why they don't want to list a token there my opinion won't change.
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Thanks for this explanation. I wanted to create a token but I couldn't figure out where to start. Now I know! So cool.
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Glad you found it useful. Good luck with your token and do share
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Thankyou. Looking forward to creating one! Would probably need a hand - !!!
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You got a 47.39% upvote from @ocdb courtesy of @crypticat! :)
@ocdb is a non-profit bidbot for whitelisted Steemians, current max bid is 20 SBD and the equivalent amount in STEEM.
Check our website https://thegoodwhales.io/ for the whitelist, queue and delegation info. Join our Discord channel for more information.
If you like what @ocd does, consider voting for ocd-witness through SteemConnect or on the Steemit Witnesses page. :)
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