Nacho Finance
Last updated
Last updated
This project is initially inspired by tomb.finance and its predecessors Basis, bDollar and soup. Tomb runs on the Fantom blockchain and is pegged to 1:1 to the price of FTM. Tomb Finance has been a great success and our team realized the need for an algorithmic stable coin pegged to ETH on Polygon.
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has since grown to become much more than a standard seigniorage based algo-stablecoin. We have our own DEX, NFTs and autocompounder and we're just getting started.
Nacho Finance at a glance.The NACHO algorithmic token serves as the backbone of a rapidly growing ecosystem aimed at bringing high APRs to ETH holders on the Polygon Network. The protocol's underlying mechanism dynamically adjusts NACHO's supply, pushing its price up or down relative to the price of ETH.Nacho Finance is a multi-token protocol that consists of the following three tokens:Nacho Token ()Nacho Shares ()Nacho Bonds ()
First, we have altered the NSHARE emission schedule of Tomb in an effort to provide a robust, long-lasting, and more sustainable DeFi ecosystem. NSHARE has a max supply of 1,000,001, but only very limited numbers will be available in the first year.Over the first year, 60,000 NSHARE will be issued as incentives to LP farmers.30% of NSHARE is allocated to the developer fund to help continue the development of the Nacho Finance DeFi Ecosystem (see our ).The remaining NSHAREs are reserved as incentive rewards on other Nacho Finance projects (Swap, Lend, Bond, Farm, etc.)NSHAREs are designed to be scarce and the full 1,000,001 NSHARES will take many years to be emitted.Second, we are building inter-functional products as part of a complete DeFi ecosystem. As of February 2022, we have launched our decentralized exchange and autocompounder, our first branches into a next-gen DeFi ecosystem.
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