Spell
SPELL
Spell Feed: Events, News & Roadmap
Spell to Launch MIM V2 Public Version in Q3
Spell plans to launch the public version of MIM V2 in Q3.
Community Call
Join to community call.
AMA on Twitter
Join to an AMA on Twitter.
Delisting From Binance.US
Spell (SPELL) and TRON (TRX) will be delisted from Binance.US on April 18, 2023.
Listing on AAX
Listing on KuCoin
Listing on BtcTurk | PRO
Listing on XT.COM
Listing on Tokocrypto
Listing on LBank
Listing on Huobi Global
Listing on Bitfinex
Listing on Bitrue
Listing on CoinEx
Listing on Bibox
Listing on BKEX
Listing on FTX
Listing on MEXC
AMA on OlympusDAO Discord
Spell Events on the Chart
What is Spell?
Spell Token is associated with Abracadabra, a multichain DeFi lending protocol that uses interest-bearing tokens as collateral to mint Magic Internet Money (MIM), a USD-pegged stablecoin. The project addresses the need for liquidity access while allowing users to retain yield on their collateralized assets.
Technically, Abracadabra lets users deposit collateral and mint MIM through its lending market, including support for yield-bearing assets as collateral. The platform uses SushiSwap’s Kashi Lending Technology to create isolated lending markets, which confines risk to specific collateral types, and that the protocol operates across multiple chains including Ethereum, BNB Smart Chain, Fantom, Avalanche, and Arbitrum.
SPELL is the native token of the project. Its stated functions are staking to receive sSPELL and a share of protocol revenue, governance participation through voting with sSPELL, and liquidity mining, where users can provide MIM or SPELL to DEX liquidity pools to earn SPELL and a share of trading fees. Protocol revenue is used for market buybacks of SPELL, which are then distributed to stakers.