Numeraire (NMR)

Was ist Numeraire?

Numeraire (NMR) is the token for the Numerai hedge fund ecosystem, designed to incentivize the creation of effective machine learning models for financial markets. The project was launched in 2017 by its founder, Richard Craib. The NMR token is an Ethereum-based token used by data scientists to stake on their predictive models submitted to the Numerai tournament. This staking mechanism rewards accurate predictions and penalizes inaccurate ones by burning the staked tokens. The platform operates within the artificial intelligence and data science sectors, creating a competitive environment for developing financial trading algorithms and sourcing predictive data for the fund.

Wie funktioniert Numeraire?

Numeraire operates as an ERC-20 token on the Ethereum blockchain, which utilizes a Proof-of-Stake consensus mechanism for network security. This means that NMR transactions are validated and secured by the broader Ethereum network's participants. The token itself does not have its own separate consensus protocol, instead inheriting the security and functionality of its host chain.

The primary participants in the Numeraire ecosystem are data scientists, not traditional miners or validators. These individuals build machine learning models to predict stock market movements based on encrypted data provided by Numerai. They then stake NMR tokens on their models to express confidence in their predictions and participate in the platform's weekly tournament.

The core process involves data scientists submitting predictions and staking NMR to back their models' performance. If a model's predictions are accurate, the data scientist earns more NMR as a reward. Conversely, if the predictions are poor, a portion of their staked NMR is destroyed, or "burned," creating a direct financial incentive for high-quality work.

Anwendungsfälle für Numeraire

Numeraire Tokenomics

The tokenomics of Numeraire (NMR) are defined by a fixed supply cap. The maximum supply of NMR is set at 11,000,000 tokens, which establishes a finite limit on the total number of tokens that can ever be created. As of recent data, the circulating supply is 7,491,315.06624033 NMR. The primary mechanism for new tokens entering circulation is through weekly rewards distributed to data scientists participating in the Numerai tournament. This model ensures that the token supply increases gradually over time until the maximum cap is reached. The staking mechanism also includes a burning feature, where tokens from poorly performing models are destroyed, potentially reducing the circulating supply.

Numeraire Kursentwicklung & Meilensteine

Numeraire (NMR) was launched in 2017 as the native token for a hedge fund powered by data science competitions. Since its inception, the token's value has experienced significant fluctuations. The all-time high price for NMR was recorded on June 25, 2017, when it reached a value of $168.49. Conversely, its all-time low occurred on November 26, 2018, with the price falling to $1.93. These historical price points illustrate the range of its valuation over the years. According to market data, Numeraire holds a market rank of 314 among other crypto assets, reflecting its position in the broader digital asset market.