Spell
SPELL
Evaluation Score
Overall rating on a scale of 0-10
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AI Analysis
Comprehensive evaluation of the token
Overall Analysis
SPELL benefits from consistent development activity, robust audits, and a well-balanced tokenomics model with veSPELL locking and buyback mechanics driving demand. Its governance-centric design, active Discord community, and niche focus on yToken collateralization differentiate it within DeFi lending. However, reliance on pseudonymous contributors, centralised emergency multisig controls, and protocol-level oracle risks warrant caution. Strong audit history for the token itself is offset by broader collateral/risk vectors in the Abracadabra protocol.
Detailed Analysis by Category
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Spell (SPELL)
Spell (SPELL)
Spell is the ERC-20 governance and utility token powering the Abracadabra Money protocol on Ethereum and EVM-compatible networks. It enables decentralized governance, protocol fee distribution, and staking rewards, driving on-chain decision-making and ecosystem incentives.
Key Features
- Governance: Holders submit and vote on proposals to upgrade and manage the protocol.
- Staking & Rewards: Stake SPELL to earn a share of lending fees and liquidity incentives.
- Utility: Utilized in veSPELL locking, bribe mechanisms, and ecosystem incentive programs.
Use Cases
- Participate in decentralized governance and protocol votes.
- Earn protocol fee distributions through staking.
- Leverage SPELL for liquidity mining and incentive structures.
Token Details
- Standard: ERC-20
- Chains: Ethereum, Fantom, Avalanche, Arbitrum, and other EVM-compatible networks
- Supply: Governed by on-chain voting and emission schedules
Security & Integration
Spell smart contracts undergo regular audits and integrate with leading wallets, DeFi platforms, and analytics tools to ensure transparency and security.
Community & Governance
Join the Spell community on Discord, Telegram, and governance forums to track proposals, participate in discussions, and contribute to the protocol’s evolution.
Official Website: https://abracadabra.money/
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