SPELL

Abracadabra's Governance Token

Spell Token Contract

The Spell token contract is an ERC20 token contract that inherits from the BoringOwnable contract, making it owned by a specific address (the "owner") that has exclusive permission to perform certain operations.

Token Information

The contract declares the following constants for the ERC20 token:
  • symbol: The token's symbol is "SPELL".
  • name: The token's name is "Spell Token".
  • decimals: The token has 18 decimal.

Total Supply and Max Supply

The contract maintains a totalSupply variable, which tracks the total number of tokens that have been minted and are in existence. It also declares a MAX_SUPPLY constant which is set to 420 billion, representing the maximum number of SPELL tokens that can ever be minted.

Minting Mechanism

The contract includes a mint function, which allows the contract owner to create new tokens. This function takes two parameters:
  • to: The address to which the new tokens will be minted.
  • amount: The number of tokens to be minted.
The function has a couple of requirements that must be met:
  • The to address must not be the zero address, ensuring that tokens are not minted to an address that can't use them.
  • The total supply of tokens after minting must not exceed the MAX_SUPPLY.
If these conditions are met, the tokens are minted by increasing the totalSupply and the balance of the to address by the amount. A Transfer event is emitted, with the zero address as the sender and the to address as the recipient, signifying the creation of new tokens.
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