Midas.Investments is delighted to announce yet another project coming to our platform. Spell Token (SPELL) is now listed on Midas platform, joining the list of 25+ supported cryptocurrencies.
APY offered to investors: 25% APY
Flexible rates launched
SPELL generates yield through the protocol’s staking. The flexible rates are changing according to the APR that staking produces and can be adjusted by the Midas team on a daily basis.
What is Spell Token?
SPELL is used as the governance token for the Abracadabra.money decentralized platform. Abracadabra employs interest-bearing tokens as collateral in the minting Magic Internet Money (MIM), a USD-pegged stablecoin.
Abracadabra uses the Kashi Lending Technology pioneered by SushiSwap 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 tokens to farm SPELL. 75% of the protocol revenue is used to buyback SPELL tokens, while 25% is used to build up a treasury.
SPELL Stats
- Total supply: 210,000,000,000 SPELL
- Circulating supply: 83,490,000,000 SPELL
- Market Cap: $343,853,000
- Network: Ethereum, Avalanche, Fantom, Arbitrum
If you have any questions, please join the Midas community in Telegram or Discord. Our awesome admins are always glad to help!
