Stake

Staking is the act of depositing an asset into a smart contract in order to receive a reward, in the form of yield. When using Abracadabra, you will encounter 2 main forms of staking, each targeted to different use cases.

Staking SPELL

The Abracadabra DAO shares its revenue with its token-holders. As a SPELL holder, in order to benefit from staking, you can hold two tokens, each earning the same amount of revenue:

• sSPELL - stake SPELL tokens and earn more SPELL

• mSPELL - stake SPELL tokens and earn stablecoin income through $MIM

On top giving you a share of the DAO's revenue, staking also gives you voting power in the Governance forum! Each SPELL Staked, regardless of the method used, gives you one vote. Find more about the Abracadabra DAO's Governance.

Magic Tokens

Magic Tokens transform "naked" assets into yield-bearing assets! Abracadabra allows users to supercharge their tokens by adding yield to them, enhancing their earning potential.

Magic Tokens function like any other ERC-20 tokens—they are stored in your wallet, can be transferred to other wallets, and in some cases, can even be used as collateral within Abracadabra.