How are rewards of DApps gonna be affected by the launch of SMTs?
The launch of SMTs could increase rewards from dApps in a number of ways:
1) dApps could increase their Steem Power holdings through the sale of SMTs.
This is the key argument for me. There is a lot of spare capital from passive investors currently tied up in bid-bots. dApps that can attract that capital through sale of their SMTs could greatly increase their Steem Power, leading to higher rewards. In order to attract the capital, dApps will need a value proposition for investors that is more attractive than that of bid-bots, even if that proposition is a long-term investment.
2) dApps could reward posters using their new SMTs.
dApps that launch SMTs could reward users with a mix of Steem upvote rewards and their own dApp SMTs. Although SMTs are likely to have low value initially, they could grow if the dApps become successful.
3) SMTs could increase the value of STEEM
A successful launch of SMTs could increase the value of Steem generally, with Steem rewards increasing proportionately in value. This would increase rewards across all dApps.
4) SMTs could make dApps more independent and attractive to revenue generation from outside Steem
SMTs could make dApps more independent. An independent economic system combined with a separate platform could be a more attractive proposition for some investors. This would allow the dApp owners to generate more external investment and advertising, with potentially greater rewards passed on to users.
5) SMTs could attract new players to the Steem ecosystem
On top of the above, large existing communities or companies could be attracted into the Steem ecosystem by SMTs, bringing new opportunities to gain rewards.
However...
* It's worth remembering that any increase in rewards from the above will be met by an increase in user numbers, and a corresponding spreading of those rewards. The advantage Steem users currently have is that of early adopters.
* SMTs may not be a success. A lot depends on the implementation, both by the central Steemit team and by the dApp teams themselves in the design of their SMTs.
Not financial advice. Please do your own research.