Spell Token (SPELL)

€ 0,00157

-3,34 % € -0,00005

Spell Token Price in Euros

(SPELL to EUR)

€ 0,00157

Spell Token Volume

(24h)

€ 80.03 M

Market Cap

(Spell Token)

€153.68 M
BTC

What is Spell Token

Spell Token (SPELL) is a token that runs on Ethereum and has an important function within the Abracadabra platform. On this platform, users can deploy collateral (in the form of cryptocurrency) to minus the MIM stablecoin. This stablecoin always has a fixed value of 1 US dollar.

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How does Spell Token work?

Users who lock tokens into the protocol of Abracadabra.money can mine MIM stablecoins. In addition, they provide liquidity to the protocol. Because they provide liquidity (LPs), they are rewarded through SPELL tokens. The size of the reward depends on the amount and type of tokens they secure.

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How to buy Spell Token?

Want to buy Spell Token? At Coinmerce you can buy Spell Token with iDEAL, SEPA Bancontact, credit card or any other payment method. Specify how many tokens you want to buy, place a market order, limit order or stop limit order, and then find your SPELL tokens in your personal wallet.

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How to buy Spell Token?

At Coinmerce you can buy Spell Token with iDEAL, Giropay, SEPA Bancontact, credit card and MyBank, without paying any deposit fees. Therefore, Coinmerce is the platform for anyone who wants to buy Spell Token in Europe. It is possible to place various types of orders, and you can sell Spell Token back on the Coinmerce platform at any time. You can do this not only through the web browser, but also through our mobile application. After purchase, you will find your SPELL tokens directly in your personal wallet.

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About Spell Token

On the platform of Abracadabra.money, SPELL plays an important role. Users can lock crypto into the protocol, where it serves as collateral. These are interest-bearing tokens. You receive these tokens as soon as you lock stablecoins into a DeFi protocol. Thus, when you have such tokens, you amass interest from the DeFi platform. By locking tokens in a protocol, you can contribute to the provision of additional liquidity. In fact, those tokens are used for various functions. You yourself are rewarded for contributing, with new tokens. Specifically, on Abracadabra you can mine the MIM stablecoin. To do so, you need to secure other cryptocurrency as collateral. Providing liquidity is done through Spell Tokens and the bonding mechanism. There is a total inventory of 210 billion SPELL tokens, although it was much larger until August 2021. In fact, 210 billion other SPELL tokens were destroyed in that month, reducing the total stock.

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Industry DeFi
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Website Website
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Network Ethereum
device_hub
Rank 164
euro
Market Cap 153.68 M
euro
Trading volume 80.03 M
euro
Maximum coins 196.01 B
euro
Circulating 97.92 B
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Twitter Twitter
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Medium Medium