Mule Pool: Nacho Finance

This post was originally published here

Don-key Finance is absolutely thrilled to announce its second Mule Pool: Nacho Finance, an algorithmic stable coin designed to bring high APRs with low fees to Ethereum holders on the Polygon Network.

For the next 14 days, starting tomorrow, the Don-key community can stake their extra, non-tier locked $DON tokens to be eligible for $NSHARE token rewards. The $50,000 worth of Nacho Finance tokens allocated to the pool will be disbursed according to pool weight and time invested; so the more and earlier you stake, the more $NSHARE you will earn. Giving the community some time to deposit, rewards will begin to accrue 12 hours after the farm goes live, tomorrow at 2 PM UTC Thursday January 27th. At this time, each block processed on the blockchain will disburse a grand total of $50,000 worth of NSHARE until rewards conclude at the end of the fourteen days.

Tiers 1 and 2 can only stake a maximum of 500 $DON while Tiers 3–5 have no cap, and can therefore earn as much $NSHARE as they want.

Once rewards are disbursed, Don-key will create a dedicated copy-farm specifically for Nacho Finance. It will heavily feature their platform, but specific details will be released once the reward period concludes.

About Nacho Finance

biswap

Nacho Finance was inspired by tomb.finance and is a seigniorage style algorithmic stable coin protocol designed to bring high APRs with low fees to Ethereum holders on the Polygon Network.

Nacho is on a mission to unlock the power of compound interest to sustainably build wealth everywhere. This is just the beginning of an ambitious ecosystem on the Nacho roadmap.

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)

$NSHARE tokens, which will be distributed to Don-key Mule Pool stakers, can be swapped for $NACHO tokens and wETH to stake on Nacho Finance to earn even more $NSHARE.

The NACHO algorithmic token serves as the backbone of their growing ecosystem aimed at bringing high APRs to ETH holders on the Polygon Network. The protocol’s underlying mechanisms dynamically adjust NACHO’s supply, pushing its price up or down relative to the price of ETH in order to keep NACHO’s peg to the ETH price.

NACHO Shares (NSHARE) are one of the ways to measure the value of the NACHO Protocol and shareholder trust in its ability to maintain NACHO close to peg. During epoch expansions the protocol mints NACHO and distributes it proportionally to all NSHARE holders who have staked their tokens in the Bowl.

Additionally, NSHARE holders have voting rights (governance) on proposals to improve the protocol and future use cases within the NACHO money ecosystem.

NACHO Bonds (NBOND) main job is to help incentivize changes in NACHO supply during an epoch contraction period.

Website | Twitter | Medium | Telegram | Discord

About Don-key Finance

Don-key.finance is building the first social trading platform for yield farming, bringing together liquidity providers and yield farmers alike. For this reason, the community refers to Don-key as the eToro of Yield Farming, which is a title the team embraces wholeheartedly.

The goal of the platform is to eliminate yield farming’s infamous complexity and replace it with a seamless retail experience, streamlined to offer the most profitable and adaptive product on the market.

With just one-click users can route their liquidity — in whichever token they chose — through professionally designed strategies that are updated to chase the highest available APY while minimizing risk.

Competitive Yield Farming is a full-time job; Don-key does it, so you don’t have to.

Website | Twitter | Medium | Telegram Community | Telegram Announcements

Leave a Comment