SPELL (Abracadabra Money’s governance token) could be considered a potential game changer in DeFi for a few key reasons:

🔑 Why SPELL Could Change the Game

1. Innovative Model (Interest-Bearing Collateral)

Abracadabra Money allows users to borrow MIM (Magic Internet Money) against interest-bearing assets like staked tokens (e.g., yvUSDC, xSUSHI).

This unlocks double-yield opportunities, where users earn yield on collateral and can deploy borrowed MIM elsewhere.

2. Real Utility with MIM

Unlike many stablecoins, MIM is decentralized and backed by productive assets, giving it stronger use cases in DeFi.

SPELL holders benefit directly from MIM’s adoption since fees go back to the community.

3. Revenue Sharing

SPELL staking lets holders earn part of Abracadabra’s fees.

As adoption grows, staking rewards increase, creating long-term incentives.

4. Multi-Chain Expansion

SPELL and MIM are available across multiple chains (Ethereum, Arbitrum, Avalanche, etc.), boosting liquidity and reach.

Multi-chain accessibility gives SPELL a wider audience than single-chain projects.

5. Undervalued Market Cap

With a relatively low market cap compared to other DeFi leaders, SPELL has high upside potential if adoption continues.

If MIM gains traction as a go-to decentralized stablecoin, SPELL could capture massive value.

6. Strong DeFi Narrative

As DeFi 2.0 evolves, protocols with real yield, sustainable mechanics, and community-driven governance are positioned to thrive.

SPELL ticks all these boxes, making it a potential dark horse in the next bull cycle.

👉 In short, SPELL could be a game changer because it merges stablecoin utility, yield innovation, and governance-driven growth in one ecosystem.