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Sauté the red onion, garlic and jalapeno in avocado oil for 3 minutes in the instant pot. Add in the cauliflower, cashews, and water and cook on manual for 5 minutes. Use the quick release to let out the steam when the time is up.
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Pour the cooked ingredients into a strainer over the sink to drain the water.
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Add the mixture to the blender along with the nutritional yeast, salt, pepper, cumin, and chili powder and blend until completely smooth. You might have to add half at a time, depending on the size of your blender.
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Transfer to a serving dish and top with bell pepper, lime, cilantro, diced onion, or toppings of your choosing. Serve with tortilla chips or veggies
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You can put the mixture back into your instant pot on the warm setting to keep it warm.