Shortly after we started Hive development, we reviewed the state of the SMT code, and at that point we decided it was better to create more efficient and flexible 2nd layer tokens that support smart contracts instead of continuing the SMT work.

There was still a ton of work to be done on the SMT code, and they didn't support smart contract functionality anyways. The SMT code was tightly focused towards launching configurable-ICO coins with voting capability, but not a lot else.