What is Spell Token ? Can This Crypto Really Work Magic?

[brives887]

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 exchange.

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.

[TomPluz]

I am not so sure if Spell  Token can be able to pull some magic tricks just as the cryptocurrency market is experiencing daily barrage of red tidal waves from many directions. Good name, by the way, but am just wondering if this project is for people who love some magical acts or maybe people who are inclined to be listening to witches and dark crafts...anyway am wishing it all the success that it is aiming for in the shifting marketplace of so many new projects with many falling apart right before our eyes.

[Jaephoenix]

I am a bit piqued by this Spell token. What is the team and devs like? From what you described, it looks like it is built on the Fantom chain. Not bad. I would look it up

[Ryu27]

According to my review on Spell token in Mexc exchange site platform its volume in usdt was around 308k$ in which for me  is not that bad all I can consider it as one of the good coins to hold in the long term also in day trade as well.