About Spell Token (SPELL)
Spell Token (SPELL) is the utility and governance token of Abracadabra.money, a decentralized lending platform that enables users to access liquidity by using interest-bearing tokens (ibTKNs) as collateral. The platform allows users to mint Magic Internet Money (MIM), a US dollar-pegged stablecoin, while retaining yield on their collateralized assets.
Abracadabra.money utilizes SushiSwap's Kashi Lending Technology to establish isolated lending markets. This model helps keep risks contained to certain types of collateral and not impact all the users on the platform. As a result, users can access various lending pairs that may not be available on other decentralized exchanges (DEXs).
SPELL is used for liquidity incentives, staking, and governance. Users who stake SPELL receive sSPELL, which represents a share of platform fees and provides governance participation rights. The protocol follows a structured token distribution model designed to incentivize liquidity across multiple blockchain networks. Launched on Ethereum, SPELL is also available on networks including Optimism, the Binance Smart Chain (BSC), Fantom Opera, Avalanche C-Chain and Arbitrum One, spanning several DeFi ecosystems.
SPELL is listed on Binance for trade and purchase. The current price of SPELL is available and updated in real-time on Binance.
