So I looked into it a lot more and basically, they HOPED to be the first SMT token lol but the SMT system is not ready so they are just doing an ICO on the ETH network with maybe hopes of moving to SMT in the future. So basically they made an announcement about something that is out of their control so thats a big fail, raises concerns about their competence. I reached out to the steemit team to get to the bottom of it and see if they really are going to be part of the steemit blockchain, will keep you guys posted