One thing recently floated by 
So how will token holders be able to exchange their SMT tokens for, say, STEEM, or to out-exchange to fiat? I note that the phrase specifies "on-chain", so that an off-chain DEX will still be needed.
It struck me when I first read the SMT Whitepaper that there already exists a tried and tested DEX: Bitshares.
The token creators can thereby create and distribute their tokens and have a ready-made market environment for users to buy and sell with each other.
The interactions of the SMT token within its own community can proceed as per the SMT set-up, just that any token distribution needs to be reflected on Bitshares using their User Issued Assets.
Would be good to hear from anybody who has already created their own token on Bitshares.
In the current climate, all potentially useful ideas need to be articulated and discussed.
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