Spell Token (SPELL) is a unique reward token that is linked to abracadabra.money, a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD-pegged stablecoin called Magic Internet Money (MIM). This lending platform utilizes the innovative Kashi Lending Technology that was 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.

SPELL serves as a reward for users who provide liquidity to the platform or participate in yield farming. It can also be used to pay transaction fees on the platform and to participate in governance.

SPELL/USD Price

ReHold provides up-to-date price charts for all cryptocurrencies, including SPELL. The price of SPELL is highly dependent on market demand and supply. As more users start using abracadabra.money, demand for SPELL may increase, which could potentially lead to an increase in its value. However, it is important to remember that the cryptocurrency market is highly volatile, and its price can be affected by various external factors.

How to earn passive income on SPELL

One way to earn passive income on SPELL is by participating in yield farming. Abracadabra.money allows users to stake their LP tokens to farm SPELL. This incentivizes users to provide liquidity for certain cryptocurrency pairs, such as Ether (ETH)-SPELL and Magic Internet Money (MIM)-LP 3pool Curve (3CRV). Additionally, users can also open leveraged farming positions using borrowed MIM from their interest-bearing collateral.

Another way to earn passive income on SPELL is through ReHold's Dual Investments. Using the innovative ReHold protocol, users can earn up to 200% APR on pairs such as SPELL/USDT, and SPELL/USDC.

Spell Token (SPELL) Price Prediction

Predicting the future price of SPELL can be challenging, but regular updates and news provided by platforms like ReHold can help make educated predictions. As abracadabra.money continues to attract users and expand its offerings, the demand for SPELL may increase, which could potentially lead to an increase in its value. However, it is important to do your own research before making any investment decisions.

SPELL Value

The value of SPELL is primarily determined by market demand and supply. As more users start using abracadabra. money, demand SPELL may increase, which could potentially lead to an increase in its value. Additionally, SPELL also has utility in the governance of abracadabra.money. Token holders can use their tokens to vote on proposals and shape the future of the platform.

200% APR on SPELL Duals

ReHold's Dual Investments offer a unique DeFi earning solution for SPELL holders. Using the ReHold protocol, users can earn up to 200% APR on pairs such as SPELL/USDT, and SPELL/USDC. This provides a great opportunity for users to earn passive income on their SPELL holdings.

How to Earn 200% APR on Spell Token (SPELL)

If you're interested in earning passive income on Spell Token, ReHold offers a unique DeFi earning solution. You can earn a 200% APR on pairs such as SPELL/USDT, and SPELL/USDC, using the innovative ReHold protocol at Dual Investments. Follow these six easy steps to try it out:

Connect your wallet Open the ReHold App and connect your web3 wallet. You can choose any web3 wallet that supports BNB Chain, Polygon, Avalanche, Optimism, Arbitrum, and Fantom.
Choose the Spell Token (SPELL) Dual asset Select the dual that you need: SPELL/USDT, SPELL/USDC. You can start a dual investment with each token of the pair.
Choose a staking period Select how many hours you want to lock your tokens. The longer the staking period, the higher the yield you will receive.
Choose the start token Select the start token and the amount you want to invest. You can use the Spell Token (SPELL) token or USDT, USDC of the dual asset.
Approve the token To start a dual investment, you need to allow smart contracts to use your tokens. It's required only once for a selected token.
Start your Dual Click on “Start Now” to create your Spell Token (SPELL) dual and receive your reward after the staking period. That's all! Your Dual is created, and at the end of the staking period, you can take your assets back to your wallet or open a new Dual.

Also, if you are interested in long-term investing, you can activate the auto-replay feature, and your dual will automatically start when the staking period ends. This will save you gas, simplify the passive income process, and increase your earnings.