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Al-Driven Crypto Investment Research Revolution

Spell

$01.34%
SPELL/USDT
BINANCE
Total dollar volume:
Market Cap:
FDV:
Turnover rate:
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Al-Driven Crypto Investment Research Revolution
Abracadabra
Cross-chain stablecoin lending protocol
abracadabra
Twitter
Medium
Categories:
Stablecoin Protocol
DeFi
Lending
Ecosystem:
Ethereum
Optimism
Polygon
BNB Chain
Avalanche
Kava
Arbitrum
Blast
Sonic
Sonic
Founded:
2021
Abracadabra is a cross-chain stablecoin lending protocol that allows users to provide collateral in the form of various interest-bearing crypto assets, such as yvYFI, yvUSDC, xSUSHI, and more. With Abracadabra, users can use the interest-bearing tokens they get from staking in vaults as collateral to mint Magic Internet Money (MIM), Abracadabra's USD-pegged stablecoin, and use it for other purposes.
Abracadabra Team
Daniele Sestagalli
Founer
Abracadabra Investment Portfolio
Rounds in the Past Year
1
Historical Rounds
1
Lead Investments
0
Portfolio Numbers
1
Infrared
Your portal to the Berachain ecosystem
Funding Status
Series A
Categories
LSD, DeFi
Ecosystem
Berachain
Founded
Jan 01, 2023
Token Issuance
No Token
Scan QR Code to Explore more key information

Spell

SPELL

Abracadabra
Cross-chain stablecoin lending protocol
abracadabra
Twitter
Medium
Categories:
Stablecoin Protocol
DeFi
Lending
Ecosystem:
Ethereum
Optimism
Polygon
BNB Chain
Avalanche
Kava
Arbitrum
Blast
Sonic
Sonic
Founded:
2021
Abracadabra is a cross-chain stablecoin lending protocol that allows users to provide collateral in the form of various interest-bearing crypto assets, such as yvYFI, yvUSDC, xSUSHI, and more. With Abracadabra, users can use the interest-bearing tokens they get from staking in vaults as collateral to mint Magic Internet Money (MIM), Abracadabra's USD-pegged stablecoin, and use it for other purposes.
Abracadabra Team
Daniele Sestagalli
Founer
Abracadabra Investment Portfolio
Rounds in the Past Year
1
Historical Rounds
1
Lead Investments
0
Portfolio Numbers
1
ProjectFunding StatusRegionCategoriesEcosystemFoundedToken Issuance
Infrared
Series A
LSD
DeFi
Berachain
Jan 01, 2023
No Token
Powered by
Spell
SPELL
$0
+1.34%
Total dollar volume24H
$4,910,295
High24H
0.0004908 USDT
Low24H
0.0004743 USDT
Market Cap
#361$79,775,559
FDV
$96,181,489
Market Cap / FDV Ratio
0.83
Turnover rate
6.16%
Circulating supply
162,575,013,714
Total supply
196,008,739,620
Max supply
210,000,000,000
All time high
0.0281 USDT
All time high date
Dec 27, 2021
Down from All time high
-98.25%
Cycle low
0.00034 USDT
Cycle low date
Aug 17, 2023
Up from cycle low
44.32%
Contracts
Ethereum:0x09...e5f6
Official links
Website
White paper
Socials
Twitter
Telegram
Introduction

Spell Token (SPELL) is a reward token connected to abracadabra.money, a platform for lending that employs interest-bearing tokens (ibTKNs) as security to borrow Magic Internet Money (MIM), a stablecoin tied to the USD. Abracadabra offers separate lending markets that let customers to modify their risk tolerance in accordance with the collateral they want to utilize by utilizing the Kashi Lending Technology invented by SushiSwap (SUSHI). Users may put up security and borrow MIM using it. Users can invest their liquidity provider (LP) tokens in Abracadabra's yield farming chances in order to farm SPELL. This makes it possible for several cryptocurrency pairs to have improved liquidity, such the ones between Magic Internet Money (MIM) and LP 3pool Curve (3CRV) and Ether (ETH) and Spell Token (SPELL). Using borrowed MIM from their interest-bearing collateral, consumers may also create leveraged agricultural positions.

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