# Spell Token (SPELL) — machine-readable summary

> FORTUNA SIGNAL · FORA-01 evidence dossier · Researched 2026-09-15 · https://ron-delhaye-studios.github.io/fortuna-signal-live/tokens/spell.html

## Definition
SPELL is the reward and governance token of Abracadabra.money, a DeFi lending platform where users post interest-bearing tokens (ibTKN, e.g., yield-bearing LP tokens) as collateral to mint MIM (Magic Internet Money), a USD-pegged stablecoin, through isolated lending markets based on SushiSwap's Kashi technology.

## What the holder owns (FORA-01 Q1)
SPELL is the ERC-20 governance/utility token of Abracadabra.money (the DeFi lending protocol behind the MIM stablecoin). It is used for incentivization; staking SPELL for sSPELL grants governance rights and a share of protocol fees. Total supply 210B after a burn halved it.

## Verification verdict
Class B (Class B) — FORA-01 scale: verification, not a quality ranking.
q1 VERIFIED · q2 VERIFIED · q3 VERIFIED · q4 VERIFIED · q5 PARTIALLY VERIFIED

## Plain-language utility
Governance and rewards token for the Abracadabra.money protocol.

## Key risks & notes
No official project whitepaper was found; documentation is at docs.abracadabra.money. Risks: past MIM depeg and contagion scares, concentration of influence around founder Daniele Sesta, regulatory risk for the MIM stablecoin model, smart-contract risk across many isolated markets, and the 2023 shift toward a centralized legal entity managing the DAO's IP.

## Primary source
- (no whitepaper found — drawn from official project documentation)

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Machine summary generated at build time from the same fields as the human page. Free educational content — not investment advice.