Hello, fellow investors.

Interesting new DeFi project. The $NACHO algorithmic token serves as the foundation of a fast expanding ecosystem that aims to deliver high APRs to ETH holders on the Polygon Network. NACHO's price is influenced by mechanisms built into the protocol that dynamically changes the supply of the coin to maintain a healthy peg. It is designed for a sustainable, long-term ecosystem.Currently 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)

For a great explanation of Nacho:

https://nachofinance.medium.com/introducing-nacho-finance-the-low-fee-ecosystem-for-eth-lovers-d4842e287fe8

What differentiates this protocol from other algorithmic tokens?

The protocol’s underlying mechanisms dynamically adjusts NACHO’s supply, pushing its price up or down relative to the price of ETH. When above peg, staking $NSHAREs in the Bowl prints $NACHO as rewards for holders. When below peg, in a period of contraction, no new $NACHOs are printed and $NACHO can be burnt in exchange for $NBOND. Through December and into January, the protocol has responded well to the downward market volatility with a peg swing of less than 0.6 points of change β€” this is the basis for a healthy protocol.

Nacho also controls the emissions of its governance token, $NSHARE, reducing to a fixed annual rate to ensure a scarce token with value long into the future. Very promising.

What are Nacho’s plans?

Nacho Finance has big projects underway which will all work together to boost the value of the NACHO token.

  1. OHM-Like bonding mechanism that allows the treasury to sell NACHO at a discounted rate for wETH. This will allow Nacho to build a healthy amount of wETH in the treasury in the case of a bank run on NACHO. (LAUNCHED)
  2. Nacho Swap Decentralized Exchange. This also feeds value into the treasury to bolster NACHO. (January 2022)
  3. Nacho Farm Yield Optimizer (auto-compounding) on Polygon (COMING)
  4. Analytics Page (COMING)
  5. Nacho Lend, Lending and Borrowing platform on Polygon. Again, feeding value into the treasury. (COMING)

They’re thinking different than just another fork.

#nachonation

🌐 Website: https://nachoxyz.com/

πŸ“„ DOCS: https://nachoxyz.gitbook.io/nachobank.finance/

πŸ’¬ Telegram: https://t.me/nachofinance

πŸ’¬ Twitter: https://twitter.com/nacho_finance

πŸ’¬ Discord: http://discord.gg/nacho-finance

πŸ’¬ Medium: https://nachofinance.medium.com

Coin Gecko $NACHO: https://www.coingecko.com/en/coins/nacho-finance

Coin Gecko $NSHARE: https://www.coingecko.com/en/coins/nshare

πŸ›οΈ Exchange:

$NACHO https://quickswap.exchange/#/swap?outputCurrency=0xcD86152047e800d67BDf00A4c635A8B6C0e5C4c2

$NSHARE

https://quickswap.exchange/#/swap?outputCurrency=0x948D0a28b600BDBd77AF4ea30E6F338167034181

NACHO-wETH LP https://quickswap.exchange/#/add/0x7ceb23fd6bc0add59e62ac25578270cff1b9f619/0xcD86152047e800d67BDf00A4c635A8B6C0e5C4c2

NSHARE-MATIC LP https://quickswap.exchange/#/add/ETH/0x948D0a28b600BDBd77AF4ea30E6F338167034181

πŸ“ƒ CONTRACTS

$NACHO: https://polygonscan.com/token/0xcD86152047e800d67BDf00A4c635A8B6C0e5C4c2

$NSHARE: https://polygonscan.com/token/0x948D0a28b600BDBd77AF4ea30E6F338167034181

$NBOND: https://polygonscan.com/token/0xfc4a30f328E946ef3E727BD294a93e84c2e43c24

submitted by /u/InterestingsBed
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