Cryptocurrency Q&A
What is the spell token in abracadabra?
What is the spell token in abracadabra?
Giuseppe
Fri Oct 25 2024
|
6 answers
1404
I'm trying to figure out what the spell token is in the word 'abracadabra'. I've heard this word used in magic spells and wonder if there's a specific token or part of the word that carries a special meaning or power.
6 answers
DigitalDynastyGuard
Sun Oct 27 2024
In addition to governance, SPELL tokens are also earned as fees from the protocol.
Was this helpful?
349
50
Alessandra
Sun Oct 27 2024
The Abracadabra protocol leverages interest-bearing tokens as collateral to mint Magic Internet Money (MIM).
Was this helpful?
128
66
Giulia
Sun Oct 27 2024
Some of the interest-bearing tokens used as collateral include CRV, CVX, and YFI.
Was this helpful?
344
25
Bianca
Sun Oct 27 2024
The SPELL token serves multiple purposes within the Abracadabra protocol.
Was this helpful?
42
97
lucas_taylor_teacher
Sun Oct 27 2024
One of its primary use cases is governance, allowing holders to participate in decision-making processes related to the protocol's development and operations.
Was this helpful?
365
33
Load 5 more related questions
