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SPELL Price
$0.00062
-0.07%
24H Price Chart
Market Cap
$66.26M
24H Volume
$9.21M
Circ Supply
107.41B

Source: SPELLUSD Chart by TradingView

SPELL Market Stats
  • Price $0.00062
  • 1H Change -2.03%
  • 24H Change -0.07%
  • 7 Day Change +0.3%
  • 30 Day Change -29.99%
  • 1 Year Change -95.09%
  • All-Time High $3,527.36
  • % From ATH -100%
  • ATH Date Sep 1, 2021
SPELL Explorer

Spell Token Background

Spell Token (SPELL) is a reward token associated with abracadabra.money, a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD-pegged stablecoin called Magic Internet Money (MIM). Abracadabra uses the Kashi Lending Technology pioneered by SushiSwap (SUSHI) to provide isolated lending markets that allow users to adjust their risk tolerance according to the collateral they decide to use. Users can deposit collateral and borrow MIM against it.

Abracadabra also offers yield farming opportunities, where users can stake their liquidity provider (LP) tokens to farm SPELL. This facilitates better liquidity for certain cryptocurrency pairs, currently Ether (ETH)-Spell Token (SPELL) and Magic Internet Money (MIM)-LP 3pool Curve (3CRV). Furthermore, users can also open leveraged farming positions using borrowed MIM from their interest-bearing collateral.

Spell Token Technical Info
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