Token quantity, distribution and circulation

In addition to MIM, Abracadabra has 2 types of tokens:

SPELL: The protocol used as an incentive token

sSPELL: tokens obtained by staking SPELL, used to obtain fee sharing and participate in governance

The sSPELL here is similar to Sushi's xSushi. Users can only get the system's income distribution and participate in voting governance by staking SPELL in exchange for sSPELL.

The total supply of SPELL is 210,000,000,000, and the specific distribution plan is:

● 45% (94.5B SPELL): MIM-3LP3CRV liquidity incentive

● 30% (63.0B SPELL): team allocation (4 years, unlocked at different rates)

● 18% (37.8B SPELL): ETH-SPELL Sushiswap liquidity incentive

● 7% (14.7B SPELL): IDO sales

In terms of distribution speed, the plan is as follows:

● 45% of the total supply will be allocated to the pledgers of MIM-3LP3CRV. The agreement will follow the 10-year halving model, which will reduce the annual rewards by half.

● 18% of the total supply will be allocated to the pledgers of ETH-SPELL Sushiswap LP tokens. 75% of this amount will be allocated in the first year, and the rest in the second year.

● 7% of the total supply has been allocated through IDO, half on Uniswap v3, and half on Sushiswap.