Yes, lets talk about SMTs and probably we should also talk about regulatory head winds that could come up with its implementation.
I think we should consider the SEC move against ICO project that didn't consent with the security laws of the SEC. Now the SEC is going after them and they are punishing the developers for it with huge fines of 250 000$.
Recently, CFTC also went against the developer of Etherdelta and prosecute him for not beeing licensed under the security law. What does @ned will think about that when he is just building the biggest internal decentralized exchange for SMT on Steem??? Does he even consider some sort of regulations coming forward to Steem??? I haven't heard anything yet...and that is for me the most worrying part that nobody has the Regulations in sight and takes care of them. If the SEC comes down on SMTs (which are like ICO) than they could vipe out the Steem economy just with one press release!!! Please everybody consider this when you are talking about SMT!!!