What is spell token crypto?

SPELL is an Ethereum token that regulates Abracadabra . This platform allows users to deposit collateral in the form of interest-bearing crypto assets to mint MIM, a stable coin with a target value of $1.00. Stake SPELL to gain spell, which offers governance rights and other benefits.

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Is spell token a stable coin?

About Spell Token SPELL is an Ethereum 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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