This thread is a quick and simple guide to buying and staking $SPELL. SPELL is staked to obtain sSPELL. sSPELL gives investors voting power to adjust important parameters of the @MIM_Spell Abracadabra Lending Platform.
Abracadabra @MIM_Spell lets people borrow $MIM stablecoins when they deposit collateral in the platform. $TIME is backed by $MIM. If you like TIME, you might like SPELL.
Steps:
1) Set up a Metamask Wallet and have it ready to use.
2) Make sure you have some Ethereum in your wallet to buy $SPELL and pay for gas fees.
3) Go to app.sushi.com/swap and click “Connect Your Wallet” and choose Metamask.
1) Set up a Metamask Wallet and have it ready to use.
2) Make sure you have some Ethereum in your wallet to buy $SPELL and pay for gas fees.
3) Go to app.sushi.com/swap and click “Connect Your Wallet” and choose Metamask.
4) Click on “Select a Token” and type in SPELL. Select this token.
5) If SPELL does not show up, paste in this address:
0x090185f2135308bad17527004364ebcc2d37e5f6
6) Click “Swap” and “Confirm Swap”. Complete the transaction.
5) If SPELL does not show up, paste in this address:
0x090185f2135308bad17527004364ebcc2d37e5f6
6) Click “Swap” and “Confirm Swap”. Complete the transaction.
7) Go to abracadabra.money and click “Connect Wallet” in the top right corner. Connect to your Metamask Wallet.
8) Click on “Stake” at the top of the screen.
9) Click on “Max” Next to the “Spell” field.
8) Click on “Stake” at the top of the screen.
9) Click on “Max” Next to the “Spell” field.
10) Click “Stake”. Complete the transaction.
11) Congratulations, you just purchased and staked the governance token of the Abracadabra Protocol, the same protocol that mints the $MIM stablecoin, which backs $TIME.
11) Congratulations, you just purchased and staked the governance token of the Abracadabra Protocol, the same protocol that mints the $MIM stablecoin, which backs $TIME.
12) This is just a guide. Not financial advice.
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