AMA With El Taco Finance

All right, this is James Pelton, and I'm here with the team from El Taco Finance. So good to have them back. They've been here before. Some people have noted that I do not have the taco suit yet to wear. That was people's first question, is if I was gonna come out with the taco suit, and we've not made that happen yet, but maybe in the future sometime. For those of you joining, please hit the like button, and please comment where you are watching from. Again, those things help the YouTube algorithm know that this is good content, and that this is stuff that a lot of people wanna see, and I just like to see who's around, who's watching. So hit the like button, and comment where you are watching from. El Taco Finance team, welcome back. It's been a while. We were just kinda catching up a little bit. Could you guys, for those people who don't know, could you introduce yourself, and just give a little bit of your background? What's going on, everybody? I'm Cheezus, aka John, one of the founders of El Taco. If you guys have been in our Discord, you know we're pretty active, but I'm one of the founders, and just short and sweet today. So Josh, one of the other founders, the hunted one. Great to be on, James. Appreciate it. As John mentioned, our Discord is pretty active. It's a lot of fun. There's a bunch of things going on at any given time, so if you haven't joined it, make sure you jump in, check it out, and see what we got going on in there. A lot of good stuff for everybody. Very cool, yeah, and if people, if you have a question as we go, please feel free to ask if you're watching live. If you're watching the replay, don't ask the questions, because we cannot answer the replays, but I do wanna welcome people watching the replay. The replay will be available and uploaded to my channel about 24 hours after we're done here. So very good, good to see Howard, good to see Lateef. Thank you guys for joining. And again, I think a lot of people are familiar with you, because we've done AMAs with you before, but for those who aren't, do you wanna just briefly talk through what your project is and kind of why you started and what you're up to? Yeah, no, that sounds good. Again, if you guys are watching replays, my DMs are always open in Discord, so feel free to go ahead and DM me and ask. But we started this back in February timeframe. We are basically an NFT project that's minting tacos. Right now, our third phase is open right now, which is the tacos that James is showing on the screen. We do also have some OG tacos that were our first two. There's only 500 of those available. And these P3 tacos, we've got 6,000 of them available. We actually have minting that will only be open till the end of this month, and you can get them right now for 1.5 AVAX. Our OG tacos are on NF Trade with a floor price of eight AVAX. And currently, our P3 tacos have a 25 AVAX floor right now. But what we're doing, as I said, we're minting these tacos at 1.5 AVAX. And what we're doing with the revenue is investing them into different type of passive income protocols, such as Great, Alto, Goldman, EMP, Frozen Walrus. And we are giving back 40% of the profits weekly back to our community in two different ways. We're actually, one way is a lottery in which we'll take 40% of that revenue and give it away to random holders that we have a nice little wheel that we'll spin on Taco Tuesday. And then we actually just started this today, and this will be going every other week. So the lotteries are every other week. And then in between those weeks, we're also doing airdrops of stable coin. And I am happy to at least announce that we did have our first successful airdrop about five minutes ago, which is why I was running a little bit late. So all of the taco holders got a portion of this airdrop, and that will continue every other week as well. Okay. What the coin was, John, so everybody knows what for the airdrop? Yeah, so I mean, it's gonna be different every week, just depending on where we take the revenue from. But this week was usdc.e. So we did drop that to our entire community. So if you hold one taco, you get one X of the airdrop. We've got a couple people that hold over 100 tacos from the phase one, two, and three. So they got 100 times that airdrop. So the more tacos you hold, the better chance you of course have of getting a little higher payout. But we thought this was a good way. So if you're not lucky, you're not gonna get discouraged and wanna sell your taco. You're gonna have something coming to you at least every other week. And we like to keep the community involved. And going forward, we're gonna ask the community if they wanna keep the giveaways, if they wanna go to more airdrops. So we're gonna let them have that choice up coming in the next couple of weeks after we get our fully invested with our P3 revenue. Okay, very cool. And I want to just note too that 1.5 AVAX is not as much as it used to be. So there's quite a discount for minting now opposed to when AVAX was up at 100 bucks or something like that. You're getting quite a discount minting now. Can you talk about what's the difference between the different, like the OG tacos and the different versions of tacos? Are they worth different amounts or how does that all work? So the OG tacos were pretty cool when we first came out with those. That basically for them, it's the different art. I don't know if everybody's seen any of those ones, but what they are was the first initial design that we came out with. And it gave the OG tacos members just some giveaways, gave them access to some other things in whitelist, for example. And we kind of went through this process of rebranding El Taco Finance to what we are now. And when we did that, we decided, okay, we're gonna bring in another artist that we feel can do some really cool designs, simple drawings, maybe bring some more attention to the art itself, as well as the other cool things that we're doing, as John mentioned, investing and partnering with a bunch of different projects that are really helping us drive consistent stability. And so that's when we came out with these ones. And as you mentioned, I mean, I think when we launched the OG tacos, they were the same price, obviously, as they are. We haven't changed anything, but it was a lot more because AVAX was so high at that point, right? So we felt that it was a good thing to give the OG tacos some additional benefits. You can still get those on NF Trade. If you go on there and there's some listed, the floor is pretty high on them as well. But it's definitely something fun to go grab one because you do get some additional benefits, as I mentioned, as far as just holding one of those OG tacos. Okay, very cool. And then Latifah, he must be an OG taco holder, but he asks, will there be a copyright for and any asset backup with taco? That's an interesting question. I don't know that I'm completely sure what it means, but maybe you guys. Well, yeah, I'm glad that you don't know what it means. Yeah, I was gonna say, I don't wanna answer that one. John, I'll default to you, sir. Maybe we can ask that some other way, man. Maybe I can give you an answer. I'm not, will there be a copyright for and any asset backup? I'm guessing it's going to be any type of asset or coin eventually for the El Taco. I don't know if that's the question, but I would love to answer it. I just can't really give you a good answer, unfortunately. Yeah, Latif, maybe ask it a different way. Has there been talk about a taco coin or anything like that? So that's something that we've been talking about. Yeah, we've been talking about that quite a bit. You know, what our next step is, so we've got our phase three going for the next couple days, and what we need to do is provide more utility for these tacos. So we are batting around the idea. It's something that we should be able to pull off. I can't give a timeline now, but we believe that this will at least pull, allow some additional utility and be able to partner up with additional protocols, you know, at least for our taco holders and give them more to taco about, you know, here moving forward. So like I said, we're probably a little while away. We need to come up with tokenomics and everything like that, but that's definitely something on our radar, something we want to move into next. Okay. I love the taco bout in there, John. Yeah, do you like how I threw that in there? It's amazing how many taco puns you can come up with when you start talking. Exactly. Who do you would like to know, could you explain what the last drop per taco was with this usdc.edrop today? Yeah, so it is in our announcements. Right now we have only invested roughly 35 to 40% of our P3 revenue. We are holding a lot of that back just due to current market conditions. We want to see everything stabilized. We don't want to continue to ape in to everything. If you look in our announcements, I put it up yesterday, tells you exactly where we are with investing into the current protocols. And then we also have three additional protocols that we are waiting for to launch in order to get in those ones, Gladiator Finance, and then the other one, well, actually two of them. One of them is going to be Liquid Capital, which I'm sure you're familiar with. So we are a partner with them as well. So we're holding some of them back there. And like I said, we don't want to ape in to anything. So the drops were relatively on the smaller side of things, considering we just started minting about two and a half weeks ago. And as everybody knows in the crypto market where the market was, we didn't want to go in and have it keep going down. That's not very good for our community. So we did give out about a quarter per taco this time. We have actually tripled up our investment. From last week's giveaway, we've already tripled up our weekly giveaway for this week. So that's always a nice thing right now. And EMP is one of our largest holdings. As soon as that starts to print, which we're on our way there, we believe that we can almost triple that as soon as that starts printing. Because like I said, we're pretty heavily tied into that. So I would say we'd be able to give up about $0.75 a taco. So right now that's 1% every other week. And looking to roughly at a minimum, and that's without even investing any additional funds that we currently have, we should be able to be at about $0.75 a taco or roughly 3% every other week. Yeah, one of the things too, John, that you mentioned, I just wanted to touch a little bit more on, is like you mentioned, like we're not going to ape in to everything. I think that's really important for us. And like when we talk internally as our team, and we try to figure out like what investments and what things we want to do and how do we want to move forward. If you just look at our project, look at some of the other ones that are out there that have started off, maybe they started off hot, and now that treasury is way down, that's what we want to avoid. So making sure that we go through, we check everything, we've met all the projects that we're partnering with and had a lot of really in-depth conversations with these guys to make sure that we're doing the most for our community that we can so that those airdrops can't increase. Yeah, we are also compounding 30% on a weekly basis. Well, actually on a daily basis, but overall, we're compounding 30% of our weekly revenue. So, in theory, as long as the marketplace is nice, we should be able to increase that on a, I guess, bi-weekly, bi-monthly, however you want to say, every other week basis here moving forward. So like I said, this is our very first one. We've only invested a small portion of our P3 mint revenue. So outlook is pretty good. And I also think that we got in a good time to get in a lot on the floor of a lot of these protocols and or basically dollar cost average our current position right now. Okay, very cool. And then this might be a question for me, but I actually, I'd rather hear, people hear my thoughts all the time. So let's hear your guys's. Where do you kind of feel like the state of the market? And we were just talking about this beforehand. Do you think we're at the bottom? Do you think we're going to go up soon? What's kind of your thoughts on that? So this is not financial advice. I have no idea, right? Really, none of us really know exactly what's going to happen like where the market's going to be at the bottom or when it's going to go back up. I think we've seen some consolidation over the last week or so, which is a good thing, obviously, with Bitcoin. Ethereum, I'm not as much, I don't know that one. John can probably speak more to that one, but I don't know that we're at the bottom yet, but I don't see anything going way down the toilet from here. I think we've hit a pretty good consolidation point. Yeah, it would surprise me if things went a lot further down from here. So I kind of just think we all are just averaging and yeah, and learning a lot. This is kind of a good time to learn. Like I bought so much way up and it's like, oh man, like my miners, I bought these miners and the price of the miners is down like 70% now. It's like, oh man, I wish I'd waited until the bear market to buy my miners. So learning a lot. And I think that's one of the things that we all have to be patient with. And that's kind of the thing about crypto and really any investment strategy is they're really more long-term plays. I think I mentioned this on the last call, right, that we had James, it's like you hear a lot of like get rich quick things in crypto, but the point is if you just sit back, relax, don't sit there and panic over it every day, don't go in, check everything every five seconds. Long-term, yeah, this is a great outlook. Bitcoin is going to obviously continue to go up. All the, a lot of these other cryptocurrencies, altcoins are going to continue to go up over the long course of things. But right now, right, it's just one of those things where a market has a downturn. And if you look back at history of the markets, this always happens. And then there's a correction and then it will go back up. And from there, we'll all be saying, man, do you remember back in 2022 when the market, you know, hit this and this and this, and it'll be a great point from us there. We just got to remain patient with the strategy that we're kind of using today and go from there. Yeah, and I'm excited, you know, some of those stories we hear about, oh, I bought Ethereum at $90 and things like that. These are the times where you start those types of stories. Like, oh, I bought Ethereum at $980 or whatever, you know, in three years when it's up at 10K or something like that. So it is exciting times, but patience is very difficult. We've kind of in crypto gotten in a habit of like quick, like I want my return quick. I want 40% a month returns. And during the bull market, we were getting that quick money coming. And then now we have to wait for it. And it's kind of painful. It's a little bit difficult, so. Yeah, me too. If you're even seeing, if you're looking at, like, as you mentioned, these 40% returns, like if you look at like a lot of the node projects, when they come out, they were given these monstrous returns. One thing we've seen is even in that type of market, it's not sustainable, right? So what we need to do and what we've done is really take this approach of, okay, what is something that's going to give us long-term sustainability? And then that we're going to be able to take that, give back to our community, continue to grow, and then make sure that these are more, I don't want to say safe investments because in crypto, there really isn't any such thing as a safe investment, but something that gives us more of a baseline that we can predict a little bit better than going in and like, you know, seeing, oh, returns are 600,000%, right? And you're like, oh man, I'm gonna get rich tomorrow. That's not how it works. Yes, yep, for sure. And there's no such thing as safe, but they're safer. So safer than other things. And then one more question here and then we'll keep going, but Sen, maybe, is that how you pronounce it? But what are the things you look for in investing in the protocol? So again, I could give my thoughts, but they always hear my thoughts. What are you guys, what are you looking, or what do you look for before investing in a protocol? You know, one of the main things that we look for when investing is first, does it fit our strategy? You know, we don't like basically locked liquidity, node projects where you invest and, you know, basically your initial investment is gone. So like I said, we have moved more towards, you know, a couple of rebasing protocols, but majority to finance. So it's got to fit our strategy. It's got to offer, you know, some type of passive income. It's got to have a strong community, a community behind it. And then we really need to know and understand, you know, it's meeting upon meeting with the developers and the founders of these other projects to get a sense of where they're going. Do they have a solid roadmap? Did they have, you know, solid history behind them? You know, what is, I guess, what is their ultimate goal? And, you know, in talks with them, we've already turned down quite a bit of projects just because, like I said, they don't fit our strategy. You know, we don't basically click with, we don't click with the developers or there's something weird that, you know, is going on. So, you know, it really doesn't fit our strategy. Is it passive, you know, basically passive income or we can give it back to our community, non-locked liquidity. And then also, you know, what's a roadmap for these projects looking like and who is actually running them? And I think we throw like, it's like when I sit down and have a beer with this guy, right? That's an important piece to think of. Understanding, getting to know the team really well. And that's one thing I want to say about all of our partners. We've had some really awesome partnerships and we've got super lucky with a lot of the guys that we work with that are just, I mean, easy to work with. They're awesome. They're great partners. They're help driving El Taco in their community. We're doing the same for them. And so it's really that too, right? Is it's, we're not asking for everything from our partners, but we want to know, is this going to be a fruitful relationship for both of us? Yes, absolutely. Okay, very cool. And Hoodie says, I was reviewing the website and saw the James Pelton taco and laughed audibly. So there it is, my taco. I see the resemblance. I definitely see the resemblance. What's up, Saint? I love you too. Saint's here. And Laszlo, shoot me a DM on, I don't check my Facebook DM. So shoot me a DM on Twitter or shoot me an email, jpelton722 at gmail.com. My Facebook inbox, I do not check. All right, one more question here and then we'll keep talking. But how do they make money? So I'll just answer that for you guys because we already covered it. I was going to say, thank you. I think we went through that. Yes, so basically they take the funds from these tacos that are minted and they go invest in different DeFi protocols. So EMP, great. Alto, Frozen, Walrus. There you go, there you go. And that's what I'm on the advisory team for is part of, I help kind of move the funds. I say, hey, here's a protocol. And then a lot of times too, I try to see if we can work out a partnership like with EMP. It was like, hey, I think they're a good investment and I think we can work with them to make a partnership. So that's kind of what my role has been. I haven't done much else, but just advised and made connections. So I guess that's my role on the team. And the taco suit will eventually be coming. And the taco suit, yes. Yes, that is coming sometime. All right, well, is there anything else that you guys want to talk about? Anything on the roadmap that you want to talk about or I guess things to tell the community before we wrap up here? Well, just a couple things. This is obviously a long-term investment. You're not going to 60X on it right away, but I think we've got a really strong community with AVAX prices where they are. With the rest of the, I guess, overall market environment, it's a really good place to be able to start our footprints in a lot of these protocols. So this is for long-term stability. We've got a lot of stuff going on in our Discord right now. We just started our phase three taco battle here last night at about 8.30. So you get to submit up to three of your tacos and they'll battle almost in a March Madness style battle every 12 hours. And then eventually we'll have a winner. We're doing a meme contest right now. And then we have a couple other partnerships that we're currently working on that we should be able to announce here in the next couple of weeks that also provide some additional utility. So like I said, there's a lot of things coming and then on top of that, farther down the road, taco coin, but of course we want to roll out these right. So if you guys have any other questions, absolutely jump in our Discord. Like I said, my DMs are always open. Feel free to ask me and we've got a lot of great people that basically know the protocol or project just as well as I do that can go out and answer some of your other questions. But come take a look. Like I said, I think you guys will really enjoy it. And the art's always fun too. AJ Thomas is another YouTuber that kind of stepped away from doing these videos to create basically 6,500. We burned the first 500 just to get the OG numbers right. But he worked his butt off and created some really, really fun tacos. Okay, very cool, yes. And so again, if you want to just become part of the community, mint price is 1.8, 1.5 AVAX. You can mint now. That's about 30 bucks, I think, with the price of AVAX where it's at. That's only about 30 bucks. So you could get, you know, you get four for 120 bucks or something like that. And that was what won it. That was what one OG was as well. 120 bucks. Now you get four for the price of one. It's such a steal to get one of these phase three tacos right now while the market is where it is. And I mean, once, you know, once things kind of take back off again and we've seen the floor, John, what's the floor off the top of your head? It's pretty high. It's 25 AVAX for the phase three. And then it is eight AVAX for the OGs. And you're looking at about 1.5 AVAX to mint right now. Yeah, I mean, just think about that from that perspective. I mean, you are getting such a steal on going and minting a taco now and then knowing what the floor is on these things right now is crazy. And you know what? We give that, a lot of that credit goes to our community, right? Because we had an internal discussion like, hey, what do we want this to do? Like, how do we want to keep this floor? And really the guys are super strong. The guys and gals are super strong and super passionate on making sure that, hey, these tacos, they go on the market anything less and they grab them up right away, right? And that's what we had our floor sweeper competition for earlier on too. So it's been really awesome and a really great community. Yeah, and you know, one more thing I want to say is, you know, our community does drive a lot of our decisions. You know, we've got suggestions, you know, a lot of our community makes suggestions. The community is able to pick, you know, we as founders for phase three gave back an extra 10%, you know, of our weekly reward. So for phase three, we did give that back to the community. They chose for at least the month of June to go ahead and compound. So we're at 40% compounding, 40% for giveaways. They'll have another opportunity in July to go ahead and vote for that again on a, basically on a monthly basis. And like I said, then for, you know, the giveaways, it's how lucrative do you want this to be? You know, you want 11 winners, nine winners, seven winners, five winners, you know, the highest vote and that's what we'll go ahead and give away. So community does have a lot of say. This isn't kind of a one man band running this. It's an overall group mentality, you know, overall, of course, you know, we're going to have the last say. We're going to have the last say, but no, the community does play a huge part in this project and they will continue moving forward and it'll even get stronger. We did have a question about Project X. I see Project X is giving away some taco NFTs. What's your ties to that project? Yeah, so Project X, and I did forget about them. So I do want to apologize, but Project X is our only node project that we currently have, you know, outside of the Grape and the Frozen Walrus nodes that are tied in with the Tomb. But Project X is our only no giveaway. We love what they're doing over there and everything that they've got coming out. We actually did a, geez, a 13 project on our midday, a 13 project AMA that every, all 13 projects had about 30 minutes and we did it from 10 a.m. till 5 p.m. myself and Josh helped out and Leonidas, which is our community manager. Yeah, Mikey came on and told us a lot of cool things. So we have been partners with them. They were one of our very first projects, thanks to James kind of, you know, as he said, he kind of makes these connections for us. So he did get us in with Project X and they are our only node project right now. All right, yeah, that AMA, that sounds like my life. That 10 to five AMA, that sounds like what I do every day. So very cool. All right, well, I think we'll go ahead and wrap up here. Hooty says this was a way smoother AMA than some other ones. So we're not gonna mention any names, but I've had some difficult AMA guests in the past and you guys are much more succinct so we can make it a 25 minutes instead of five hours. So- I'm gonna go look at all of these after we're done, James, and find which ones are being- Yeah, I'm not gonna say which ones have been rough. Maybe I'll DM you later. All right, sounds good. So, but yeah, appreciate you audience hopping on here. This was kind of a lot more of a last minute AMA. We weren't sure if we were gonna do it till just this morning even. So appreciate you guys showing up and talking through this. And then, yeah, appreciate you team for your hard work and just keep going. And it's a fun community. That's what I've heard from a lot of people is, hey, we love the taco community. It's been, it's a lot of fun. So it'd be part of that 1.5 AVAX, so 30 bucks. And Nicholas says, poor bank teller. I did not say any names, okay? So I did not say which one I was talking about. Yeah, so guys, just go to the website, click on it. There's a mint button there. Go ahead, it'll take you right there. Connect it, use your MetaMask browser, whatever it is, and mint your tacos. And then, yeah, say, hey, we came from James Pelt, and then we'll chat, discuss, and go from there. Yes, yep, you can just mint right here on the website, 1.5 AVAX, and we only have 48 hours. 48 hours till it closes. We will get the community. I know that there's a couple that are getting some, getting some additional funds together. So we may keep it open for an extra week, but after that, who knows if there'll be another opportunity we may just stick with what we mint and basically move forward from there. So this isn't gonna be something where we will keep the mint open for as long as we want. So yeah, it'll be in the next 48 hours, maybe a couple days after that. But yeah, if you guys get your tacos now, it's a great opportunity at a great floor price. Yeah, so I don't know if I should, John, I don't know, man, you can tell me, I should know. If you come and mint from James, should we offer anything to the people that mint from watching this? Yeah, why not? Sure, go ahead, Josh. We love giveaways. So yeah, so we'll do a giveaway. So how many tacos should we offer up? If you come into the Discord, say, hey, you minted from James, provide us with the wallet address or the transaction, we'll give away how many tacos. What are you thinking? Hey, man, you go, hey, this is your idea, bro. Throw it out there. I'll support it. All right, so we'll give away what? So we'll give away three or five. We'll just go from there, between three and five total. To everybody that goes and mints. All right, that sounds good, up in the air. Yeah, up in the air. We haven't decided yet. It might be three, it might be five. James also might be wearing a taco suit. We never know. My wife, there's still, my wife's still waiting for that. She's like, I heard you're wearing a taco suit. Wait a minute, why is your wife waiting for the taco suit? She apparently, well, apparently, one of my friends watched our old, my wife doesn't watch our old videos, but one of our friends did and mentioned it to my wife. And she's like, oh yeah, I'm in on that, so. Oh, that's awesome. We'll see, we'll make it happen. So yeah, appreciate that. We'll make it five, it's final. We'll give away five if you come in, and save you a minute from James Pelton from watching this AMA. All right, guys? There you go. Very cool. Well, hey, thank you guys. I appreciate your generosity. And yeah, keep building, keep up the good work. Appreciate you, audience. And I hope everybody has a good rest of their Tuesday. Awesome, thank you guys very much. Thanks, James, appreciate it. Thanks, James, take care.