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RE: Smart Media Tokens Use Cases, Caveats And Limitations - The SMT White Paper Series, Ep. Three

in #steemit7 years ago

Sorry for the slow reply, had a long day! Hopefully you're still up for this discussion because I have another question about the three types of "votable" tokens per post. Take the following scenario from the gardening forum example:

I have some vested STEEM, MYFORUM and MYGARDENING tokens in my account. Then I vote on a post with those three votable assets. Does that mean the post's payouts in STEEM, MYFORUM, and MYGARDENING increase relative to my vested shares in each?

It seems like that would be the case for MYFORUM and MYGARDENING but it doesn't make as much sense for STEEM, otherwise people using the "MyForum" site would start getting STEEM rewards for their posts and they may not even know what STEEM is.

Also on page 57 of the whitepaper it says:

From a potential utility perspective, demand for STEEM increases as each SMT is created with Influence Sharing for Steem Power over a SMT’s rewards pool. The advent of each trace of Steem Power-based Shared Influence over an SMT’s Reward Pool gives new rights and usage to STEEM, which in turn drives demand for STEEM. These rights can also be granted from SMT to SMT, and the flow of value follows an identical pattern.

That sounds to me like Steem Power can be used to vote and increase the rewards paid out in SMTs which doesn't make sense to me. Why would you want someone with a bunch of Steem Power and no MYFORUM/MYGARDENING tokens to be able to come in and influence the rewards on gardening forum posts?

I'm not sure I really understand the above quoted paragraph or how vested STEEM affects SMT payouts and why STEEM is always considered a votable asset on all posts.

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As long as any SMT is created "off of" Steem, both as currency and as application layer, then the primary interaction will always come from Steem. So any new content platform will be always votable with Steem first and then with its specific SMT. Try to imagine it without this and you'll soon see how it can spiral out of control.

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