RE: SMT Development Update #4

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SMT Development Update #4

in steem •  6 years ago 

I have a question and sorry if it has been answered a hundred times already....

But will creating SMT's burn steem? any mechanism that requires burning steem will make me further believe the value of steem will rise above $5 again

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6 years ago by

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      ·  6 years ago 

    It will cost SBD, price has been discussed to be around 10 SBD but I don't think its set in stone yet, or should I say set in block. :)

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      ·  6 years ago 

    In the whitepaper it says the price will be 1 SBD, which may be changed in later hardforks.

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        ·  6 years ago 

      Yeah, at Steem Fest 2 they mentioned it may be raised to 10.

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          ·  6 years ago 

        Ah... sorry, I totally forgot whitepapers are usually out of date seconds after being published. Thanks for that.

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          ·  6 years ago 

        Since Steem now supports perpetual edits I think white paper also needs to be moved to a steemit blog. That way we can track all the edits and whitepaper is upto-date.

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          ·  6 years ago 

        You are definitely not wrong there! That's a great idea!

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            ·  6 years ago 

          The answer above me is not entirely correct. Read this section from the smt-whitepaper titled:

          "Increasing Market Demand for STEEM with SMTs and Implicit Value Drivers rather than Fees"

          (https://smt.steem.io/smt-whitepaper.pdf)

          It starts on page 56

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            ·  6 years ago 

          The creation fee can be paid in either SBD or STEEM, and it will be burned when creating an SMT.

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