The Abracadabra protocol has two major tokens. SPELL, the governance token of the platform, and MIM (Magic Internet Money). each offer benefits, the primary function of the Spell Token is staking (for interest bearing SPELL called sSPELL). Like most other tokens using the Ethereum platform, SPELL can be staked to gain various benefits. Two main ones are:
Governance: Since the Abracadabra protocol is truly decentralized, the number of Spell Tokens you have will determine how much weight your opinion has in changing features such as liquidation fees, collateral and total value locked (TVL).
Passive Income: When Spell Tokens are staked, users earn a percentage of trading fees from the platform. These fees are interest that’s earned primarily from users borrowing MIM. 75% of the fee goes to token holders; 20% is allocated to the governance treasury, which aids liquidity pools; and the last 5% is kept in a multisig treasury that helps mitigate risks when market conditions worsen.
OK, to compare with INTU now:
Intuit, best-known as the parent company of TurboTax and small-business accounting software QuickBooks, but it’s pushing to become part of the broader consumer finance landscape. In December 2020, it completed a $8.1-billion acquisition of Credit Karma, a credit-monitoring service that provides personalized credit card and loan recommendations to 110 million customers. The Credit Karma segment serves consumers with a personal finance platform that provides personalized recommendations of credit card, home, auto and Personal Loans, insurance products, online savings and checking accounts.
I chose this one because it was in the consumer finance sector. Im sure something like Capital One Financial (NYSE: COF) would also prove to be bullish. This is just a comparison with pattern shapes and some basic MA's.
Governance: Since the Abracadabra protocol is truly decentralized, the number of Spell Tokens you have will determine how much weight your opinion has in changing features such as liquidation fees, collateral and total value locked (TVL).
Passive Income: When Spell Tokens are staked, users earn a percentage of trading fees from the platform. These fees are interest that’s earned primarily from users borrowing MIM. 75% of the fee goes to token holders; 20% is allocated to the governance treasury, which aids liquidity pools; and the last 5% is kept in a multisig treasury that helps mitigate risks when market conditions worsen.
OK, to compare with INTU now:
Intuit, best-known as the parent company of TurboTax and small-business accounting software QuickBooks, but it’s pushing to become part of the broader consumer finance landscape. In December 2020, it completed a $8.1-billion acquisition of Credit Karma, a credit-monitoring service that provides personalized credit card and loan recommendations to 110 million customers. The Credit Karma segment serves consumers with a personal finance platform that provides personalized recommendations of credit card, home, auto and Personal Loans, insurance products, online savings and checking accounts.
I chose this one because it was in the consumer finance sector. Im sure something like Capital One Financial (NYSE: COF) would also prove to be bullish. This is just a comparison with pattern shapes and some basic MA's.
shorter term idea for thos that marging or something. (click the pic its a link)