SmartCash is a community-centric currency, where community and development comes first. From the block rewards 70% has been allocated to fund SmartHive community proposals. The remaining is allocated to mining (5%), SmartRewards (15%) and SmartNodes (10%).
SmartRewards are a price stabilization mechanism by encouraging long term holding. The InstantPay feature provides instant transactions to facilitate the merchant adoption of SmartCash. As for the mining, it uses the Keccak algorithm. So far ASICs have not yet been created for and thus can only be mined with graphic cards. SmartNodes are servers that run a SmartCash wallet with a required 10.000 SMART collateral. They enable the InstantPay and SmartRewards services.