What is Numeraire (NMR)?

Numeraire (NMR) serves as a pivotal tool in the realm of digital finance, notably in the Ethereum blockchain. This network employs blockchain technology to stake cryptocurrency on well-informed predictions on the stock market, acting as a hedge fund, utilizing artificial intelligence and insights generated by a global network of data scientists. NMR tokens are used as a stake in Numerai's unique tournament model, where data scientists from around the globe submit predictive models. The stakes are placed on these predictions, and if successful, contributors are rewarded with more NMR. This mechanism incentivizes the creation of accurate, reliable financial models, merging the realms of AI, finance, and blockchain technology in a groundbreaking way. 

Numeraire offers two distinct applications:

Signals: A platform for users to contribute stock market strategies that support specific stocks or trading styles.

Tournament: A weekly competition allowing users to submit trading algorithms related to stock markets. Participants can place bets on the most probable outcomes.

Integral to Numeraire's functionality is its native cryptocurrency coin, NMR. This digital currency is essential for staking on predictions, conducting payments, and rewarding participants in the weekly trading competition.

Furthermore, the Numeraire ecosystem uses the Erasure protocol, a set of smart contracts on the Ethereum blockchain. This protocol enables Numerai, the entity behind Numeraire, to either reward users who accurately staked their NMR coins to a correct outcome or deactivate them if the predictions prove incorrect.

Brief overview of Numeraire (NMR)

Numeraire (NMR) operates as a sophisticated software platform functioning as a hedge fund. Its primary objective is to facilitate equity trading on the Ethereum blockchain, employing advanced technologies to enhance trading strategies. Numeraire actively promotes transparency within its ecosystem. Through smart contract technology and blockchain's inherent transparency, users can trace and verify every transaction and decision-making process, fostering a high level of accountability and trust among participants.

Numeraire's commitment to user empowerment extends beyond its applications. The platform actively engages with the broader community, offering educational resources and collaborative spaces where users can enhance their understanding of financial markets, artificial intelligence, and blockchain technology. This commitment to education and community building underscores Numeraire's vision of democratizing access to advanced financial tools.

What makes Numeraire (NMR) unique?

Numeraire (NMR) stands out in the world of digital assets due to several distinctive features that set it apart from traditional cryptocurrencies. Here are key elements that contribute to the uniqueness of Numeraire:

Advanced Financial Intelligence: Numeraire operates at the intersection of artificial intelligence and finance. Unlike many cryptocurrencies, it leverages sophisticated predictive analytics and insights generated by a global network of data scientists. This unique approach enhances the platform's ability to make informed decisions in equity trading.

Innovative Staking Mechanism: Users stake NMR tokens to back their predictions, aligning their interests with the platform's success. This staking mechanism adds a unique layer of incentive and accountability to the Numeraire ecosystem.

Transparency and Open Source Code: Numeraire embraces transparency by making its smart contract code publicly available. This commitment to openness ensures that users and developers can review the code, promoting trust and understanding of the underlying technology.

Limited Token Supply and Strategic Distribution: With a capped maximum token supply of 11 million, Numeraire employs a strategic distribution model. The initial allocation includes 1 million tokens distributed to data scientists based on their performance on the Numerai leaderboard. The controlled generation of tokens each week until the maximum limit ensures a carefully managed and sustainable ecosystem.

The NMR Token

Numeraire operates as an ERC20 Ethereum-based token, functioning as a smart contract within the Ethereum blockchain. The source code for the Numeraire smart contract is publicly accessible, and all newly generated tokens are directed to Numerai. The total supply of Numeraire (NMR) tokens is capped at 11 million. Initially, the supply cap was set at 21 million tokens, but the platform decided to reduce this maximum by more than half in 2019. As previously mentioned, a fixed number of Numeraire tokens are produced each week until reaching the maximum limit. Successful participants in Numerai's machine learning competition continue to receive Numeraire tokens as a reward for their outstanding performance.

The NMR token plays a central role in staking within the Numeraire ecosystem. Users leverage NMR tokens to back their predictions and participate in the predictive analytics facilitated by the platform. This not only fuels the accuracy of trading algorithms but also aligns the interests of users with the broader success of the Numeraire network.

Holders of NMR tokens often have the opportunity to participate in decision-making processes related to the platform's development and upgrades, fostering a sense of community and shared responsibility among Numeraire users.

Analyzing Numeraire’s price trends

Numeraire hit the markets in June 2017 at an initial price of $44 and continued to trade downwards for the remainder of the year, reaching levels below $10 in November. However, In January, 2018, NMR experienced several peaks, reaching values of $47 and $32, before cooling down once more. In December 2018, NMR was trading for as low as $2. 

The year 2020 and 2021 can be regarded as the best performing period for NMR: In 2020, NMR reached peaks of $34 and $55, while in the 2021 bullmarket, NMR reached its all-time high of $73 in April. A second peak of $52 followed in September, largely in sync with the entire crypto bull momentum, before NMR cooled down. During 2023, NMR broadly followed the crypto market’s pattern, exhibiting several moderate peaks. As of December 2023, NMR is trading at a value of $15. 

How to buy Numeraire (NMR)?

You can simply buy and sell NMR on the Coinmetro exchange in just a few seconds. Sign up for an account, if you are not already registered, deposit funds instantly and buy NMR and 80+ other crypto assets with just a few clicks. 

Buy NMR

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