Abracadabra SPELL (SPELL) Live Price and charts Today

1 Abracadabra SPELL (SPELL) Price Today in USD is $0.00099950

Abracadabra SPELL (SPELL) = $0.00099950 USD

Abracadabra SPELL (SPELL) all-time high (ATH) is $0.034377 USD

The maximum supply of Abracadabra SPELL (SPELL) is 210,000,000,000.00

Abracadabra SPELL (SPELL) 24h volume is $143.39 Million(s) USD

Abracadabra SPELL (SPELL) Market Cap is $132.92 Million(s) USD

Kindly note that the contract address on Solana provided in this page belongs to the wrapped $SPELL using wormhole bridge.

Abracadabra SPELL
$0.00099950
+10.36%
Time Interval :
Time Range :
  • .csv
  • .xls
  • .xlsx
  • Rank #313
  • Market Cap 13.02% $132,924,237
  • 24H Spot Volume 54.38% $143,392,603.58
  • 24H Volume / Market Cap +22.73%+108.00%
  • Circulating Supply 132,990,866,650.98
  • Total Supply 196,008,739,620
  • Max Supply 210,000,000,000.00
  • Fully Diluted Valuation $209,894,788
  • API ID abracadabra copy duigou
  • Project Start Date -
  • Contracts & Explorer(s) coin-img 0x090...7e5f6
    copy duigou
  • Websites Website
  • Links
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About SPELL Roadmap & Milestones
Abracadabra.money is a lending platform that allows users to use interest-bearing tokens as collateral to borrow stablecoin $MIM, while $SPELL is one of the platform tokens of Abracadabra.money.

Spell Token ($SPELL) is a reward token associated with abracadabra.money, a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD-pegged stablecoin called Magic Internet Money ($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 farming opportunities, where users can stake their 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). 

Abracadabra’s isolated lending markets have sparked a wave of innovation in decentralized finance (DeFi) lending. In an isolated lending market, the risk is not shared collectively. Users can provide liquidity for any token and if the currency pair loses its liquidity or something happens to the smart contract, only that pair is affected and not the entire platform. This allows Abracadabra to offer various pairs that are not supported by most other decentralized exchanges (DEXs). One of the features of using this technology is that users can leverage their interest-bearing token positions. Users borrow against their positions and then again borrow against the borrowed stablecoin, creating several loops and thereby increasing their leverage. All of this is done in one transaction, which is why the user only pays a gas fee once. Spell Token ($SPELL) can be farmed by providing liquidity in one of the different pools. $SPELL can also be staked, and staked tokens accrue a share of the platform fees (interest, borrowing fees, and 10% of the liquidation fee for certain markets), which auto-compound.

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