What is Spell Token (SPELL)?

Discover the key facts about Spell Token (SPELL).

About SPELL Token

SPELL is the governance token of the Abracadabra.Money decentralized lending platform.

How SPELL Works

SPELL is an ERC-20 token used as a governance and incentive token within the Abracadabra.money ecosystem. The SPELL token’s primary use cases are (1) governance in the Abracadabra protocol and (2) fees earned from the protocol. Abracadabra uses interest-bearing tokens like CRV, CVX and YFI as collateral to mint Magic Internet Money (MIM), a USD-pegged stablecoin. The maximum supply of SPELL is 210,000,000,000, which are distributed for global farming incentives, team allocation, and during the initial DEX offering.

Note: The Giving Block does not currently support SPELL donations. See all cryptocurrencies supported by The Giving Block.

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