Nacho Finance $NACHO

Nacho Finance is a groundbreaking crypto project rooted in the spirit of tomb.finance. As a seigniorage style algorithmic stablecoin protocol, Nacho Finance is designed to deliver high Annual Percentage Rates (APRs) with minimal fees to Ethereum owners who operate on the Polygon Network. The multi-token system comprises of the Nacho Token (NACHO), Nacho Shares (NSHARE), and Nacho Bonds (NBOND), each with a unique role within the ecosystem.

The Nacho Token (NACHO)

The NACHO, serving as the medium of exchange, is the backbone of Nacho Finance. With the aim of bringing high APRs to ETH holders on the Polygon Network, the underlying mechanisms of the protocol dynamically adjust the supply of NACHO. This pushes its price up or down relative to the price of ETH to maintain NACHO's peg to the ETH price.

Nacho Shares (NSHARE)

NSHARE represents a measure of the protocol value and is a gauge of shareholder trust in the protocol’s ability to maintain NACHO close to the peg with ETH. During epoch expansions, the protocol mints NACHO and proportionally distributes it to all NSHARE holders who have staked their tokens in the Bowl. In addition, NSHARE holders possess voting rights on proposals to enhance the protocol, thereby playing a crucial role in its governance and future use cases within the NACHO money ecosystem.

Nacho Bonds (NBOND)

NACHO Bonds, or NBOND, play a crucial role in incentivizing changes in NACHO supply during epoch contraction periods. Their primary function is to support the stability of the ecosystem by balancing the changes in supply of NACHO.