Nacho

What is Nacho Finance & The NACHO Token?

Nacho Finance was inspired by tomb.finance and is a seigniorage style algorithmic stablecoin protocol designed to bring high APRs, with low fees, to Ethereum holders on the Polygon Network.

Nacho Finance is a multi-token protocol that consists of the following three tokens: - Nacho Token (NACHO) (Medium of exchange) - Nacho Shares (NSHARE) (Governance & Measure of protocol value) - Nacho Bonds (NBOND) (Change NACHO supply during contraction periods)

The NACHO algorithmic token serves as the backbone of our growing ecosystem aimed at bringing high APRs to ETH holders on the Polygon Network. The protocol's underlying mechanisms dynamically adjust NACHO's supply, pushing its price up or down relative to the price of ETH in order to keep NACHO's peg to the ETH price.

NACHO Shares (NSHARE) are one of the ways to measure the value of the NACHO Protocol and shareholder trust in its ability to maintain NACHO close to peg. During epoch expansions the protocol mints NACHO and distributes it proportionally to all NSHARE holders who have staked their tokens in the Bowl. Additionally, NSHARE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the NACHO money ecosystem.

NACHO Bonds (NBOND) main job is to help incentivize changes in NACHO supply during an epoch contraction period. When specific conditions are met the NBOND can be obtained through the burning of the NACHO token. Later, during phases of expansion NBOND can be brunt in exchange for NACHO.

How Many NACHO Tokens Are There in Circulation?

The Nacho Finance Protocol launched on December 9th 2022. Since inception nearly its 1 million NACHO have been minted. The total supply and circulating supply dynamically change over time based on NACHOs time spend either above Peg (Expansion phase) or below Peg (Contraction Phase).

Who Are the Founders of Nacho Finance?

Our team is led by industry veterans of 10 years — people behind some of the earliest cryptocurrency and blockchain success stories dating back to 2012. While we remain anonymous, sharing the spokesperson identity Felis Silvestris, we understand the importance of accountability in the space, and have KYC’d with RugDoc to provide that assurance. At the end of the day, we are here to ungate and democratize advanced decentralized financial tools for everyone regardless of their background or exposure to Cefi or Defi. Thereby unlocking, for everyone, the power of compound interest to sustainably build wealth independent of existing legacy frameworks. Nacho is for everyone, everywhere; it’s part altruism, part justice, and it’s all Nacho Libre!

Where Can I Buy NACHO?

NACHO is available for trading on the largest DEX on Polygon, QuickSwap.