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Ethereum Lending

What is the SPELL token used for?

How Abracadabra Money uses SPELL token. Abracadabra is a protocol to borrow a stablecoin called MIM with interest bearing assets.

SPELL token is


SPELL is the governance and utility token of Abracadabra Money.

SPELL token is used for


  • Governance (staking)
  • Revenue share (staking)
  • Yield farming

How could value accrue to the token?


Locking tokens

  • Token holders can stake to receive sSPELL.

Fees

  • Fees (75% of interest goes to buy tokens and distribute to stakers)

What is Abracadabra Money?


Abracadabra money is a protocol to borrow a stablecoin called MIM with interest bearing assets (like yvYFI and xSUSHI).

How Abracadabra Money works


Users deposit their interest bearing tokens to mint MIM stablecoin.

  • 50 – 75% LTV.

Interest

  • 75% Stakers
  • 25% Liquidity pools incentives
  • 5% Safety module treasury

Read more here.

Token Isssuance


Total supply: 420 000 000 000

Token issuance

  • 66.5% – Yield farming
  • 3.5% – IDO
  • 30% – Team

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SPELL token price


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