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You are right, APPICS is an SMT on the STEEM Blockchain. But right now, the SMT protocol is still under development by steemit inc. and hasn't launched yet.

If you want to know more about SMT: https://smt.steem.io/

Its really not a nice feeling to be at the mercy of another crypto currency. We have to wait on Steemit inc to complete the SMT protocol before we can receive our XAP tokens.

Thanks. In that case, when we purchase tokens in the ICO, we will then be waiting for SMT's to launch before we get a token?