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SMTs seem so long ago now. I believe the intention was to allow anyone to create their tokens and be able to state whatever properties they liked for the token. They could then distribute these tokens through voting in communities.
Instead, we have Hive Engine tokens. I think they are less ambitious than SMTs but they allow people flexibility to create tokens and use them for tribes. These tokens don't operate directly off Hive, which SMTS would have. Instead, they are found on Hive Engine sidechain.
The post took awhile to get started but once I got going it wasn't too hard to pull everything together.
RE: Hive – How decentralised are we?