Spell Token Price Prediction: Is Spell Token THE Meme Coin of 2022?

Spell token is a reward token for the Abracadabra.money — a lending platform for borrowing USD-pegged stablecoins called Magic Internet Money. It utilizes Kashi Lending Technology first introduced by SushiSwap to provide isolated lending markets that allow users to modify risk tolerance according to the collateral they use. Using any other assets as collateral the users can borrow MIM tokens. 

Abracadabra also offers yield farming options to its users, who can farm SPELL tokens by becoming liquidity providers, thus creating better liquidity for certain cryptocurrency pairs, for instance, ETH-SPELL and MIM-3CRV. Moreover, using borrowed MIM the users can open leveraged farming positions. 

Even though Abracadabra is not claimed to be a decentralized autonomous organization it is governed by the community through the Snapshot page. MIM tokens are minted with a 6/10 multi-signature contract composed of 10 partially pseudonymous users.  

Thanks to the innovation of isolated lending markets, users can provide liquidity for any asset, so Abracadabra can offer even the trading pairs ignored by the major exchanges. It also allows users to leverage their interest-bearing token positions by borrowing against their positions, borrowing against borrowed stablecoin, creating the loops, and increasing the leverage. As everything is done in one transaction the gas fees are only paid once. 

SPELL is a native token of the project that can be farmed by providing liquidity in one of the pools and also staked to accrue the share of the gas fees (interest, borrowing fees, liquidation fees) on the platform. The token has a total supply of 210 billion with 82 billion coins currently circulating.