SPELL-Spell TokenDetailed Description

SPELL-Spell Token Detailed Description

SPELL is Abracadabra's protocol incentive token. Abracadabra is a lending platform that uses an interest-bearing token (ibTKN) as collateral to borrow a USD-pegged stablecoin (Magic Internet Money - MIM), which can be spent like any other traditional stablecoin. There are a lot of assets that are currently locked in places like yVaults, preventing further use. Abracadabra provides the opportunity to use these assets.