What is Spell Token (SPELL)? Spell Token (SPELL) is a token that governs Abracadabra . money, a platform that lets users deposit collateral in the form of interest-bearing crypto assets (such as yvYFI, yvUSDT, yvUSDC, xSUSHI) in order to mint MIM, a stablecoin that attempts to maintain a value of US$1.00.