SPELL Spell Token

About BoringDAO BTC

Spell Token (Spell) is a reward Token associated with Abracadabra. money, a lending platform, Use interest-bearing tokens (ibTKN) as collateral to borrow a dollar-linked stablecoin called Magic Internet Money (MIM). Abracadabra uses Kashi Lending Technology, pioneered by SushiSwap (SUSHI), to provide an isolated Lending market that allows users to adjust their risk tolerance based on the collateral they decide to use. Users can deposit collateral and borrow MIM. Abracadabra also offers income farming opportunities in which users can pledge their liquidity provider (LP) tokens to plant SPELL. This favors the better liquidity of certain cryptocurrency pairs, currently Ether (ETH) -Spell Token (Spell) and Magic Internet Money (MIM) -LP 3Pool Curve (3CRV). In addition, users can open leveraged agricultural positions using miMs borrowed from their interest-bearing collateral.