Nacho Finance

Nacho Finance

Origins

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.

Nacho Finance 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.

Why Nacho?

Our seasoned team is behind some of the earliest cryptocurrency and blockchain success stories dating back to 2012. We're now focused on building a next-generation DeFi ecosystem to bring high APRs (with low fees) to Ethereum holders across multiple blockchains. Polygon is our first project chain.

We love working together, and we each bring an assortment of skills to the table that allow us to make great products.

The Big Picture

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)

Nacho Shares (NSHARE)

Nacho Bonds (NBOND)

What differentiates NACHO from other Tomb forks?

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 Roadmap).

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.

What is Nacho Swap?

Welcome to Nacho Swap a new decentralized exchange on the polygon network. Swap faster, swap slicker, swap smoother thanks to a dedicated RPC, better rewards, and tighter transaction control.

Nacho Swap is a DEX, or a decentralized exchange. It’s the second product in the Nacho ecosystem, introduced to support yield farming on Nacho Finance, and well beyond. A DEX is one of the most highly used products in DeFi and generates revenue in all market conditions.

Nacho Swap is a non-custodial exchange. Like most decentralized exchanges, Nacho Swap does not possess your tokens in order for you to be able to trade them, but instead allows users to trade peer-to-peer with liquidity that is supplied by other users.