NACHO's supply is dynamically adjusted by the protocol's underlying mechanism, pushing its price up or down in relation to the price of ETH.

Nacho; the reason gamers and DeFi wizards love upgradeable NFTs

Nacho is a next-gen DeFi and GameFi brand, building an ecosystem to create opportunities for crypto enthusiasts, DeFi wizards and gamers on Polygon alike. They aim to unite the most avid users who seek to extract tokenomic rewards, a dynamic experience and unrivalled opportunity within the crypto and NFT space.

Launched as an innovative Tomb-fork in December 2021, Nacho Finance is rapidly building component parts of an ecosystem to learn and change the course of DeFi for its users. Since the release of the yield farming platform, they’ve launched their own DEX, autocoumponders, and have recently ventured into a highly unique gamified NFT space that leverages the protocol’s design and future.

What is so unique and cool about Nacho?
Nacho Finance combines the properties of several product categories to create an ecosystem for different types of users. There’s a DeFi offering complete with a tri-token system, LPs and Yield Farming, an upgradeable NFT project that will blow your mind, and notably, they’re working on building a GameFi part of the ecosystem that intertwines perfectly as a wholesome experience.

It creates an opportunity for several audiences with wide utility for the exchange token, $NACHO.

To put it another way, Nacho Finance is expanding into a Play to Earn NFT project on the back of a Tomb-fork that uses tokenomics to incentivize players for engaging with the protocol and pre-game phases of the project.

The game is being developed with the industry-standard Unreal Engine 5 and will appeal to both DeFi experts and gamers.

What is the difference between Nacho and any other Tomb FORK?
First, they changed Tomb's $NSHARE emission schedule in order to create a more resilient, long-lasting, and sustainable DeFi ecosystem. The maximum supply of $NSHARE is 1,000,001, however only a small number will be available in the first year.

LP farmers will receive 60,000 $NSHARE in the first year as an incentive.

The developer fund receives 30% of $NSHARE to help continue the development of the Nacho Finance DeFi ecosystem. The remaining $NSHAREs will be used to fund further Nacho Finance projects as incentive rewards (Swap, Lend, Bond, Farm, etc.).

$NSHAREs are intended to be scarce, and it will take several years to emit all 1,000,001 $NSHARE.

About Nacho Tokens
The protocol is built around the $NACHO algorithmic token. It’s the foundation of this fast-expanding ecosystem, pegged 1000:1 against ETH on the Polygon Network. The $NACHO token supply is dynamically adjusted by the protocol's underlying mechanism, pushing its price up or down in relation to the price of ETH.

As Nacho Finance is a multi-token protocol, there are two other tokens in addition to $NACHO:

  • $NSHARE, or Nacho Shares, the reward and governance token
  • $NBOND, or Nacho Bonds, the above- and below-peg bond token

$NSHARE is emitted and rewarded for holders and liquidity providers on the protocol. $NACHO and $NBOND also have integral functions within the expanded gaming part of the ecosystem.

Users can use the platform tokenomics to directly upgrade their NFTs. The value of improving the NFTs has gameplay implications, giving those who spend more time or tokens strengthening their characters an advantage when it comes to competing, wagering and earning against other competitors.

All of this is intended to improve the protocol's health by providing utility for the exchange/share token ($NACHO) as well as opportunities to burn it, reducing its circulating supply. It also gives the bond token ($NBOND) new below-peg use cases, reducing its supply and the protocol's debt load.

This is where users can master the protocol’s tokenomics to upgrade their unique NFT and compete against others. Users can wager on a match to try and win to earn tokens and grow the value of the NFTs.

How does it positively impact the Polygon userbase?
This brings a small feisty project with big ambitions to the passionate and loyal users of Polygon. When we say big ambitions, the Nacho team is bringing the goods.

Their team has world-class game design experience and are engineering 3D gameplay using Unreal Engine 5—this is what today’s top console and PC games are built with. Their visual artist creates Hollywood-calibre 3D work using industry-standard tools. And since 2012, their seasoned core team has been behind some of the earliest bitcoin and blockchain success stories. This is an established team connecting specialties to bring a project ecosystem previously unseen on Polygon.

This is to say they’re bringing a project with quality and the aspirations of creating a blue chip opportunity, but something that is accessible to everyone, as is the basis of Polygon.

The big piece is the expansion into a tokenized NFT project.

Nacho NFTs
Nacho Finance has launched a unique utilitarian NFT collection, the Luchadors, as they put it, ''3,333 upgradeable Luchador NFTs. You feed them to grow, train to earn, and fight to win.''

Every NFT is completely unique and algorithmically generated, inspired by gaming, pop culture and crypto legends.

First, you feed your Luchador $NACHO to increase his weight. KGs are important. You’ll need heavier NFTs to accelerate his ability to upgrade game-relevant skills. If you’re paying close attention, you’ll notice that feeding your Luchador $NBOND has a multiplier effect, currently at 5x $NACHO value until June 16th. Beyond that, $NBOND will still feed at 4x $NACHO value (an astute gamer would see the angle here).

When it comes to competing with other Luchador NFTs, yours will need to develop his skills: speed, strength, stamina, style and health. Simply stake your NFT at one of the 5 gym stations to increase a skill. These stats are needed to earn and win your fights!

Your NFT increases any skill based on his weight (heavier trains faster), the length of time he spends at the gym, and how much you’ve chosen to upgrade the station (each gym station has several levels to increase rate of training).

Keep an eye on the leaderboard as your Luchador gains weight and improves his gym talents to see how you stack up against the competition.

The team is planning to launch the $EGO token later this year as a prize for beating other Luchadors in 3D battles.

Why Nacho?
We think Nacho is bringing something new to the table and are excited to see how it all unfolds!

Project Links:
Website - https://www.nachoxyz.com/
Docs - https://nachoxyz.gitbook.io/nachoxyz.com/nacho-finance/about-nacho-finance
Discord - https://discord.com/invite/nacho-finance
CoinGecko - https://www.coingecko.com/en/coins/nacho-finance
Nomics - https://nomics.com/assets/nacho2-nacho
Twitter - https://twitter.com/nacho_finance
Telegram - https://t.me/nachofinance

Written By

Petrache Ionut

Jun 15, 2022