First of all, Snax do not gain permission to post on Twitter on your behalf. I verified that on Twitter. They shouldn't need to post on Steem on your behalf as well. The linking of Steem account to Snax, as it seems, only requires the account registration post and you do not need to grant them any permissions to your Steem account.

Their business model seems to be as such,
- Create an overlay above all social networks
- Reward social influencers with tokens
- The tokens can also be donated to influencers from their supporters as a show of appreciation
- Influencers can also provide services in exchange for tokens (e.g. companies might pay influencers to promote products)
- Over time, due to limited token supply and more demand, there will be some kind of value generated on the tokens (people are willing to pay for tokens)
- Since @snaxteam keeps a portion of token for their use, their tokens will also be worth something
- They can then sell their tokens in the market for other purposes

That's what I understand so far. However, I have not read their whitepaper in detail. If @snaxteam is reading this post, it will be great to have them reply to your question :)

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