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No SMT is a technologie that others can use to create a token that is similar to steem but different. And it is based on the Steem Blockchain.

Like the ethereum based tokens?

Yes indeed something like the ethereum based tokens, but with some minor differences.

One thing I like about SMT´s are that the Steem blockchain will provide a way to always exchange the SMT´s into STEEM/SBD.

Compared to Ethereum based tokens this is a really huge benefit.

I did read about the market maker but I have to be honest I didn't understand how it works. I only think I figured out was that you have to feed him a lot of Steem to be able to automate this.
Looking for a recoure that can describe the mechanics in some simple words !

You think I am spam. I like Ethereum. I have some Bitcoin. You disliked a comment of mine. That is too bad. That is your right of free speech. You think I suck. You think I am a loser. Good for you. I guess oatmeal is dumb. Bitcoin is still number one right now. It is time to buy some Bitcoin. You look like David Sheppard.