Spell Token (SPELL) is a reward token associated with abracadabra.money, a lending platform that uses interest-bearing tokens as collateral to borrow USD-pegged. Abracadabra.money uses Kashi Lending Technology to provide users with isolated lending markets, allowing them to adjust their risk tolerance in accordance with the collateral used.
The Kashi Lending Technology introduced by SushiSwap means that users can provide liquidity for any token and if the currency pair loses its liquidity or something happens to the smart contract, only that pair is affected and not the entire platform. This allows Abracadabra to offer various trading pairs that are not supported by most decentralised exchanges.
Sign up to Swyftx to buy SPELL in Australia.