The Taco Hut: The one stop shop, for LP’s, staking and NFT’s
The Taco Hut, a distinctive platform that incorporates non fungible token’s (NFT’s) with a decentralized finance (DeFi) spin. Allowing the user to experiment with various roles and levels of risk within the platform.
There are three levels in The Taco Hut appealing from the risk averse to those crazy high risk loving taco-cats (did you know taco-cat spelled backwards is taco-cat?). Each level acts as a different role with its own distinct function.
They are as follows.
The easiest and lowest risk for earning TACO, is to become a creator and publish your own work to sell in the pools. The only capital required is ETH for gas to interact with the smart contracts and publish your creation.
Goal for creators
Create unique work (visual art, music, use your imagination) to sell them in The Taco Hut platform to earn TACO.
Now…This is where it gets really taco-licious!
There is a special pool for creators. The royalty sharing pool. Only creators will be allowed to stake TACO proportionate to the amount of NFTs they’ve sold. As well as the amount of TACO they’ve earned by selling their creations.
The pool will receive the proceeds, presumably wETH, from all secondary market sales of The Taco Hut NFTs (via Opensea, Rarible, etc). It will be rewarded to the creators based on their stake in the pool.
You now have the option to stake your TACO in The Taco Hut, activating a point system giving the stakers the option to purchase NFT’s.
All NFT transactions will be settled in TACO. The fee for the NFT is then split, one half going to the creator of the NFT and the other half sent to the SALSA pool.
Goal for Stakers
Purchase NFT’s from creators they like and if desired, sell them at a later point in the secondary market for profit.
The stakers play an important role in discovering new talent.
3. Liquidity providers
The highest level of risk within the system. However, bigger risk equals bigger possible rewards. The liquidity pool!
Liquidity providers generate SALSA with the opportunity to stake the token, activating a similar point system enabling the option to purchase NFT’s. Similar to the stakers pool, all NFT transactions will be settled in TACO. The NFT’s at this level will be rarer and the quality much better than the stakers pool.
Furthermore, the SALSA pool will reward the TACO collected from the proceeds in the Stakers pool, mitigating the impermanent loss caused by providing liquidity.
Goal for liquidity providers
Purchase exclusive NFT’s from recognized creators and if desired, sell them at a later point in the secondary market for profit.
The liquidity providers play an important role in providing the liquidity that allows the Taco Hut to operate and for NFT collectors to enter the platform. This role rewards the LP’s with both TACO and exclusive access to great artists.
An overview of The Taco Hut
As you can see from the illustration above, there are three pools.
1) Stakers pool: TACO —> NFT
2) Liquidity Providers pool: SALSA —> NFT & TACO
3) Royalty Sharing pool (only for creators): TACO —> wETH
The Taco Hut platform harbours unique features for the surging sectors of NFT’s and DeFi within the crypto-verse.
- Opening up the platform so that any creator can participate, removing the barrier of entry
- A royalty sharing pool so that creators keep earning money with time
- The TACO flow from stakers pool to liquidity providers pool which helps incentivize liquidity.
The total circulation of TACO originated at 15.624 million. It is now hovering at 9.625 million. The execution of The Taco Hut and subsequent platforms/projects down the line will help expand and compliment the origins of the Taconomics platform and its existing model of deflationary mechanics.
The Taco Hut Timeline
The team has laid out the plan to grow TACO by breaking down the expansion into phases.
Phase 0: “Making the SALSA”
With our earlier announcement we set in motion the phase 0 of the creation of The Taco Hut, SALSA is an important condiment in our dish, and every TACO holder can now start cooking their SALSA in preparation for the platform.
Phase 1: “The Soft Shell Walk”
A soft launch testing the smart contracts, using a simple NFT mining pool, and rewarding on loyal TACO holders from the original Taconomics platform.
This phase will be an important step towards our milestone of creating The Taco Hut, while reducing the risks associated with newly created smart contracts.
Phase 2: “The Hard Shell Run”
The Taco Hut will release integrations on a continuous basis. Allowing for the various roles of the platform to experience and get familiar with interacting in The Taco Hut. All the while allowing for further testing with each release.
On the front side of things TACO has already initiated and continues negotiations with various sectors within the crypto verse.
Partnerships with like minded projects such as ZZZ finance back in August have enlightened the team to the fact that working with other projects strengthens all communities involved and well, it is just a nicer environment to work in.
Phase 3: Complimentary protocols (TBA)
Q2 2021 and beyond
The Taco Hut will be fully complete and open for business.
The game that was to be in the first phase may be inserted here. Taking into consideration other novel ideas being introduced regularly that may take precedent. The ambition is to provide an ecosystem within the TACO token, and the Taconomics platform. Enabling a bright future for spreading the TACO-mania.
Adding members to the team is integral in moving forward for TACO. Given the ambitious vision for the future, it is the obvious next step.
Thanks to a community vote favouring that portions of the dev funds be used to bring in more team members as of December 8th, 2021.
We are currently looking to bring on more developers to accelerate our goals and quite possibly our timelines.
If you are interested in joining the TACO team. Please come and introduce yourself in the Tacogram telegram page.
The Follow Through
Now that we dined on the meat of the taco, allow us to break down some of the pivots that occurred over the course of the last couple months, tying up some loose ends on questions being asked
As many TACO-maniacs are aware of, the next project to be released via TACO was a game tying in NFT and DeFi aspects. Simultaneously, The Taco Hut was being born. Work was being done on both projects. At the risk of spreading the developers time and efforts too thin, a decision was implemented to execute the future of TACO into phases as mentioned above.
The Taco Hut is concreting the foundation to build all subsequent phases off of in the future. This will amplify the game’s purpose as it will interact with The Taco Hut on a bigger scale.
All ensuing phases will be synergistic with the precursive platforms. This strategy is to enable the sustainable and prosperous growth of TACO.
And lastly some props…
TACO is very grateful for the community we have. We would like to give a heartfelt thank you to those who still stand by the token through this transition.
Have a spec-TACO-lar day!!
Buy TACO token through Matcha:
Generate SALSA, TACO’s LP token on Balancer: