What is Spell Token (SPELL)?
Key Facts + Spell Token (SPELL) Donation Stats

About Spell Token

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

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.

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Why Donate SPELL?

Since SPELL has appreciated significantly, donating SPELL and other cryptocurrencies can save you money on your taxes. Because the IRS classifies cryptocurrency as property, this means you don’t have to pay capital gains tax on your donation and can deduct the amount on your tax return. This is why financial advisors recommend you donate your most highly appreciated assets first. Users who donate and enter their email address will automatically get a compliant tax receipt.

Don’t want your SPELL stack to decrease? Repurchase the same amount of SPELL afterward and still get the same tax benefits to offset some (or all) of your gains.

How to Accept and Donate Spell Token (SPELL) to Charity
Accept Spell Token (SPELL) Donations

Hundreds of nonprofits are choosing to set up platforms for crypto donations because it will help them:

  • Connect with new, younger donors they typically struggle to engage with
  • Tap into the resources of the emerging crypto and blockchain industry
  • Stay ahead of the curve with today’s fundraising ecosystem

Find out why Save the Children, American Cancer Society and hundreds more are choosing the The Giving Block’s tools and services:

Donate Spell Token (SPELL) to Nonprofits

Investors can become donors by giving a portion of their crypto gains to charity.

  • It’s fast, secure and easy
  • It can drastically lower your taxes
  • It’s rewarding!

Feel great about giving to a nonprofit that accepts crypto donations:

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What is Ethereum?

Ethereum is a decentralized, open-source blockchain with smart contract functionality.

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What is Bitcoin?

Bitcoin is a decentralized digital currency, that can be sent from user to user on a peer-to-peer network.

Learn about BTC

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5 Reasons Why Donating Crypto Can Lower Your Taxes

In recent years, we’ve seen hundreds of millions of dollars in cryptocurrency donated to nonprofits.

Learn more

Cryptocurrencies Accepted by The Giving Block