Invesetment of 1ETH on SPELL

Website: https://abracadabra.money/ https://www.coingecko.com/en/coins/spell-token

Background: DEFI is one of the most promising investment areas in the Crypto space. Among them, SPELL, which has been included in Coinbase, is one of the most undervalued token out there as demonstrated that it has an extreme low Market Cap / TVL Ratio of 0.16 (over 1 means over-valued, under 1 means under-valued). The market value of SPELL is $507,312,668 and the total value locked is $3,133,840,756.

Due diligence: SPELL is an ERC-20 token used as a governance and incentive token within the Abracadabra ecosystem. The SPELL token’s primary use cases are (1) governance in the Abracadabra protocol and (2) fees earned from the protocol.

A customer can provide collateral in the form of various interest bearing crypto assets such as yvYFI, yvUSDT, yvUSDC, xSUSHI and more.With this, a customer can borrow magic internet money (MIM) which is a stable coin that the customer can swap for any other traditional stable coin.

Strengths:

1. One top DEFI token that has been screened by Coinbase whose potential is yet to be realized. Mcap/TVL is only 0.16, extremely low.

2. Borrowing and lending are based on the MIM stable coin. It has been predicted that stable coins will become dominating in top 10 cryptos as they are more practical in real-life payment due to lack of volitlity. A Defi protocol based on both SPELL and MIM has a great advantage.

Prosed actions:

1. 1ETH on SPELL by looking for a good entry within the next two weeks;
2. Exit half when the price is doubled to return 1ETH, the remaining SPELL become risk-free in-house investment.
3. Exit the rest either by voting or by the price is 4X. A total gain of 2Eth. https://www.coingecko.com/en/coins/spell-token