What is Spell Token?
SPELL is a management token for abracadabra.money, a DeFi lending protocol that allows you to earn interest by posting collateral in the form of crypto-assets when taking a loan. The Abracadabra protocol has two main tokens operating in its ecosystem. The first is SPELL, a platform management token, and the other is MIM (Magic Internet Money). The main, but not the only advantage of the Spell token is staking. Like most other tokens using the Ethereum platform, SPELL can be staked and receive various bonuses for doing so, meaning the tokens are 'locked', generating benefits such as receiving passive interest according to the percentage of trading fees from different platforms and management to participate in decisions about the direction of the project.Spell Token Website