Staking is the act of depositing an asset into a 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 use 2 different methods, 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! Each SPELL Staked, regardless of the method used, gives you one vote. Find more about the Abracadabra DAO's Governance.

Magic Tokens

Magic tokens are a way to turn "naked" assets into Yield bearing assets! To achieve this, Abracadabra creates state-of-the-art strategies that enable its users to supercharge their tokens by adding yield to them.

MagicTokens work like any other ERC20 tokens, they are available in your wallet, can be transferred to another wallet and sometimes can even be used as collateral in Abracadabra!

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