Will SMT's have Steem collateral behind them? How will we ensure that SMT's actually have value given that unlike Steem (or BTC or other crypto base tokens) they are not the means by which we access network resources?
RE: SteemFest Q&A: What Do You Want to Ask Ned?
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SteemFest Q&A: What Do You Want to Ask Ned?
SMTs backed by Market Maker Pools can be up to 100% pegged to STEEM.
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I think that answers my question perfectly, thanks!
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I wonder if you can % weight the peg, or adjust it when live?
I imagine that most SMTs backed my MMPs are likely to start out wanting to be pegged, but if the shit-show continues here, perhaps in time they'd like to break free?
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I'm thinking collateral could be used to provide a floor in the price. There doesn't necessarily need to be a downward peg mechanism. What also hope is that witnesses could redirect Steem from the reward pool to back certain SMT's as a matter of policy. SMT's by their nature are inherently inflationary, locking up Steem as collateral would counter this, especially if it's directly from new issuance. Eventually it could completely encompass the Steem reward pool. If SMT's and Oracles succeed then the reward pool eventually becomes redundant, but it needs to be done in a way that doesn't create de facto inflation, but also ensures the tokens (both Steem and SMT's) have real value.
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We are going to need a new office floor at this rate :)
Your understanding is far ahead of mine, I have nothing to add. Did you see steemit inc are looking for technical writers with sound knowledge of the 'protocol'.
Not sure if this would interest you or not?
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I'm not ahead of you on this. I'm only imagining how it 'might' work, how I would do it. I could be totally wrong on how it will be technically done.
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Good day boss @dimimp
Here we bring a dope track called for you and this community called STEEMJET OVATION by everyoung Ft queenlatifat Ft pitar
Here is the making of the track
Here is the track
https://soundcloud.com/akinrolabu-everyoung/steemjet-ovation
This song was composed and executed by 3spaceforce members
@everyoung
#SF6
@queenlatifa
SF7
@pitar
SF7
We will be needing 1500steem for the video production, of which all space force member available will partake in the video
Here is the analysis of the 1500steem we requested for
Payment for video shoot---900steem
Payment for customised STEEMJET OVATION shirt---300steem
Payment for make up artist and feeding of space force member---200steem
Miscellaneous--100steem
We will b glad if we can be paid in this week power down so that we can start the production and make it faster
Steemjet all the way
God Bless dimimp
STEEMJET OVATION TEAM
LED BY
@everyoung
#SF6
@pitar
SF7
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