Is it ERC20?
Spell Token
SPELL
Overview
Spell Token is the native ERC20 governance and utility token of the Abracadabra.Money ecosystem. Abracadabra.Money transforms interest-bearing assets into collateral to mint the stablecoin Magic Internet Money (MIM), enabling users to leverage their yield-bearing assets without selling them. SPELL is used for protocol governance, incentivizing participation, and rewarding users through staking and farming opportunities.
Key Features
Stability
Pegged 1:1 to the US Dollar
Wide Adoption
Available on multiple blockchains
Market Information
Technical Details
Integration Projects
Abracadabra.Money
Visit →The main DeFi lending platform that allows users to deposit yield-bearing tokens as collateral for minting MIM.
MIM (Magic Internet Money)
Visit →A stablecoin minted against interest-bearing assets, central to the protocol’s lending and borrowing mechanism.
Cauldrons
Visit →Smart contract vaults that enable users to deposit collateral and borrow MIM, underpinning the protocol's innovative lending strategy.
SPELL Farming
Visit →Yield farming initiatives offering SPELL rewards to users who stake assets, enhancing community participation and protocol liquidity.