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Spell Token(SPELL) is a reward tokenassociated with abracadabra.money, a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD-pegged stablecoincalled 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 farmingopportunities, where users can staketheir 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 leveragedfarming positions using borrowed MIM from their interest-bearing collateral.

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In this article, you will learn what is the Spell token. It is important in the functioning and governance of the Spell protocol and its stablecoin ecosystem.
SPELL is a cryptocurrency that is native to the Abracadabra money platform. In this article, we will take a closer look at SPELL crypto and discuss whether or not it is a good investment.
The native governance and staking token of Abracadabra Money, a cross-blockchain lending platform, is called Spell Token (SPELL). If you would like to know SPELL token price prediction, this article is for you.