Dear Nami Community,In order to expand the investment portfolio and bring more choices to users and the community, Nami Exchange would like to announce the listing of SPELL and UST token with trading pairs:
Abracadabra.money is a lending platform that uses interest-bearing tokens (ibTKNs) as collateral to borrow a USD pegged stablecoin (Magic Internet Money - MIM), that can be used as any other traditional stablecoin.Currently, a lot of assets, such as yVaults have locked in capital that can't be put to further use. Abracadabra offers an opportunity to use it.SPELL is its token, used for incentivization as well as voting right when staked!
TerraUSD (UST) is the decentralized and algorithmic stablecoin of the Terra blockchain. It is a scalable, yield-bearing coin that is value-pegged to the US Dollar. TerraUSD was created to deliver value to the Terra community and offer a scalable solution for DeFi amid severe scalability problems faced by other stablecoin leaders like Dai. Thus, TerraUSD promises users a higher level of scalability, interest rate accuracy, and interchain usage.TerraUSD provides several benefits that have made it a stand-out stablecoin competitor. Due to its minting mechanism, UST meets the requirements of DeFi protocols that it uses without losing scalability.
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