What is spell token used for?

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.

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Is spell a meme coin?

Spell Token (SPELL) is a memecoin that claims to enable users to produce magical internet money. It is part of the Abracadabra Money lending platform that has the stated goal of allowing users to borrow funds using interest bearing tokens as collateral.

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