SPELL is only available to store

This asset is currently unavailable to trade on Gemini. You can store SPELL and transfer it with a compatible external wallet.

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$0.0008644696

$0.0002742777 (46.47%)

Past year

  • Volume (24H)

    --


  • Circulating Supply

    151.8B


  • Market Cap

    $131.4M


About Spell (SPELL)

SPELL is used as the governance token for the Abracadabra.money decentralized platform. Abracadabra employs interest-bearing tokens as collateral in the minting Magic Internet Money (MIM), a USD-pegged stablecoin. Interest-bearing tokens able to be used as of February 2022 as collateral include liquidity provider (LP) tokens from Convex, Curve, Yearn, among others. The loan liquidation process on Abracadabra differs from other stablecoin/lending protocols like MakerDAO, in that each collateralized debt position (CDP) and its liquidation price are unique. Should the liquidation price for any specific CDP be crossed, a liquidator can purhcase the position by paying off the outstanding MIM.

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Spell Cryptopedia articles

Abracadabra Money- DeFi Stablecoins via Magic Internet Money and SPELL Tokens (DeFi)

Abracadabra.money: DeFi Stablecoins via MIM and SPELL

Cryptopedia Staff6 min read

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Spell links and resources

Abracadabra website

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Abracadabra technical documentation

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