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RE: The need for decentralized exchanges
I believe it will since it provides a lot more than ERC20 does.
Liquidity since all SMT created tokens are paired with steem
Security of tokens on the steem blockchain just like STEEM
Curation/reward system built in natively.
Smartcontract for ICO already in the blockchain.
None of that exists with ICO.
I totally agree the steem future looks bright :)