Thanks, I'll go have a read of that now. I watched the animation - which did help a little in my explanation but I'm still a bit foggy on it. I'm guessing each TOKEN equates to a pot of money which is spread across an individual website's reward network? And the currency is in Steem? So it's basically like setting up a Steemit platform on every website that wants to participate? I'm not sure I've grasped it yet.
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I think that is getting close. I guess we will need to see some real world examples of SMTs in action to fully get to grips with it.