Spell Token (SPELL) is a governance token of Abracadabra.money, a lending platform. Abracadabra.money uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD-pegged stablecoin called Magic Internet Money (MIM), which can be used as any other traditional stablecoin. Abracadabra.money uses Kashi Lending Technology to provide isolated lending markets that allow users to adjust their risk tolerance according to the collateral they decide to use. Abracadabra.money also uses interest-bearing tokens such as yvUSDT or xSUSHI to provide users with various features such as borrowing, swaps and staking. The name and ticker symbol of the protocol's governance token is SPELL. In Abracadabra.money, every MIM is backed by a specific interest-bearing token (ibTKN). Unlike most protocols where a user's collateral is at risk of liquidation, with Abracadabra.money, each collateralized debt position (CDP) is isolated and only at risk of its own individual liquidation. The protocol operates on a gamified ecosystem and describes itself as a "spell book." The spellcaster, or the borrower, is responsible for producing MIM by placing yvUSDT or xSUSHI as collateral. Users have to repay the debt with interest to receive their collateral back, thereby reversing the "spell".