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SPELL(Abracadabra Money)
Abracadabra is a lending platform that uses interest-bearing tokens as collateral to borrow a USD pegged stablecoin (Magic Internet Money - MIM), that can be used as any other traditional stablecoin.
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77828806569 Updated on 2021-12-15
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I.  Project Introduction

Abracadabra Money allows idle interest-bearing tokens to be put to productive use through borrowing leverage. With Abracadabra Money, users can borrow against their interest-bearing tokens by depositing them as collaterals and use it for other purposes.

Tags: DeFi 2.0, DeFi, money markets

Team background: Mostly annonymous, figureheads are Daniele & @squirrelcrypto & Spirit of Romy

 Token Information

2.1 Token Basic Information

Token Name: SPELL

Total supply: 210,000,000,000 SPELL

Tokens in Circulation: 77,828,806,569 SPELL (15 December 2021)

Price for early investors: No seed/private sale


2.2 Token Distribution and Token Release Schedule

IDO (7%)
Team Allocation (30%): 50% released over 1st year, 25% 2nd year, 12.5% 3rd and 4th year (Total 4 year vesting)
Farming Incentives (63%)


III. Related Links 

Official Website: https://abracadabra.money/

Blockchain explorer: https://etherscan.io/address/0x99D8a9C45b2ecA8864373A26D1459e3Dff1e17F3



Medium: https://abracadabramoney.medium.com/




Note: The project introduction comes from the materials published or provided by the official project team, which is for reference only and does not constitute investment advice. Some of the content may be out of date, error, or omission. Huobi does not take responsibility for any resulting direct or indirect losses.



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