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May 20, 2022, 08:59:57 AM |
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Spell Token was listed on MEXC assessment zone on October 5, 2021, with an opening price of 0.002 USDT. The highest price has reached at 0.035 USDT, up 1750%.
Spell token
The total supply of Spell Token (SPELL) is 210 billion, with 210 billion having been burned after token generation. The token distribution is as follows:
63% (132.3B SPELL): global farming incentives
30% (63.0B SPELL): team allocation (4 year vesting schedule)
7% (14.7B SPELL): initial DEX offering
SPELL will follow a ten-year halving model, which will cut in half the rewards distributed every year. 50% of team tokens are to be issued in the first year, 25% in the second, and 12.5% in the third and fourth years. Each week, 624 million SPELL are emitted. SPELL is also used as a governance token, with users having voting power according to how much they have staked.Buy Spell with MEXC global(mexc.com)
What is Spell Token?
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). Furthermore, users can also open leveraged farming positions using borrowed MIM from their interest-bearing collateral.
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