Numeraire (NMR)

$29.6561 (-11.69%)

CMC# Market Cap (USD) Volume (24hr) Circulating Supply NVTS Change (7d) Change (24h) Savings Per 1K
100 $91,251,300.00 $9,550,570.00 3,076,980 NMR -- -11.69% -3.75% $3,466.80

Exchange Pair Volume (24h) Price
Coinbase Pro NMR/USD 2,265,014.00 29.2203000000
Coinbase Pro NMR/EUR 452,617.00 24.9758000000
BKEX NMR/USDT 276,812.00 29.1716000000
Coinbase Pro NMR/BTC 1,005,329.00 0.0028430300
Binance NMR/USDT 1,227,981.00 29.2130000000
Binance NMR/BTC 1,027,440.00 0.0028370000
Coinbase Pro NMR/GBP 265,811.00 23.0642000000
OKEx NMR/ETH 653,568.00 0.0900700000
AEX NMR/USDT 310,211.00 29.1600000000
OKEx NMR/USDT 29,118.00 29.2100000000
Bittrex NMR/BTC 121,367.00 0.0028448400
Binance NMR/BUSD 178,865.00 29.1920000000
Binance NMR/BNB 101,264.00 1.2586000000
Bilaxy NMR/USDT 690,435.00 29.1200000000
Hotbit NMR/BTC 57,752.00 0.0028476800
Uniswap (v2) 0X1776E1F26F98B1A5DF9CD347953A26DD3CB46671/ETH 4,237.86 0.0900295727
CoinEx NMR/USDT 44,670.00 29.3123000000
ProBit NMR/KRW 113,206.00 33,990.0000000000
ProBit NMR/USDT 109,963.00 29.1500000000
ProBit NMR/BTC 77,483.00 0.0028360000
CoinEx NMR/ETH 15,617.52 0.0903114900
CoinEx NMR/BTC 19,665.86 0.0028435600
Atomars NMR/USDT 9,315.72 29.2130000000
Atomars NMR/BTC 6,403.09 0.0028420000
MXC NMR/USDT 264,904.00 29.1690000000
MXC NMR/ETH 253,433.00 0.0898900000
Digifinex NMR/USDT 114,878.00 29.2260000000
XT NMR/USDT 96,360.00 29.1925000000
Poloniex NMR/BTC 2,173.40 0.0028474000
Bancor Network NMR/BNT 754.07 40.5776226906
Balancer 0X1776E1F26F98B1A5DF9CD347953A26DD3CB46671/ETH 28,396.00 0.0912872355
Hotbit NMR/USDT 59,847.00 29.7914000000
Hotbit NMR/ETH 57,572.00 0.0886250000
Bittrex NMR/USDT 13,907.58 28.5000000000
Bittrex NMR/ETH 542.96 0.0880000000
Uniswap (v1) NMR/ETH 25,235.00 0.0912406349
Hoo.com NMR/ETH 134,710.00 0.0889996000
Hoo.com NMR/USDT 165,560.00 31.3690000000
HitBTC NMR/BTC 769.61 0.0028809500
Balancer 0X1776E1F26F98B1A5DF9CD347953A26DD3CB46671/USDC 119.13 32.3934306088
Bitcoin.com Exchange NMR/BTC 769.61 0.0028809500
YoBit NMR/DOGE 0.03 11,451.5616113600
1inch 0X1776E1F26F98B1A5DF9CD347953A26DD3CB46671/ETH 26,491.00 0.0900815290
Mooniswap 0X1776E1F26F98B1A5DF9CD347953A26DD3CB46671/ETH 920.47 0.1601757060
Upbit NMR/BTC 34.93 0.0025007900
YoBit NMR/BTC 3.52 0.0026008800
YoBit NMR/RUR 0.81 2,375.9586242700
YoBit NMR/USD 0.44 33.2236835300
YoBit NMR/WAVES 0.19 13.3989739700
YoBit NMR/ETH 0.03 0.0811551300
Upbit Indonesia NMR/BTC 865.41 0.0025007900
Bitcratic NMR/ETH 15.59 0.2000000000

Background

Numerai, founded in Dec. 2015, is building a blockchain based hedge fund that utilizes artificial intelligence and crowdsourced stock market predictions. The platform relies on a monthly machine learning and data science “tournament” where users, primarily data scientists, can submit trading algorithms about the stock market. Numerai then employs artificial intelligence algorithms to analyze the predictions, and the best are included in Numerai’s “meta-model” which combines all the underlying inputs on which it will trade the stock market. The team believes there are inefficiencies in the stock market-related capital allocation and that creating a free and open dataset for machine learning will help solve this problem. Numerai claims that inefficiencies are in part due to assigning metrics to market data, such as stock price or dividends. Each month users are given an encrypted dataset that has standard market data labels removed. By removing the context of data the project believes users will submit more accurate predictions. For example, stock price could be labeled as “feature 1”, so users create stock prediction models objectively based on historical data as opposed to using personal biases about how stock price might affect a specific company. Numerai encrypts the dataset that tournament participants are given to prevent participants from copying the underlying trading strategy. By giving the dataset away for free the team believes it will allow for open participation by users around the world, fostering a collaborative approach and generating better prediction models compared to typical hedge funds. In Feb. 2017, the company announced its token, Numeraire (NMR), an ERC20 token used to participate in tournaments on the platform. The platform utilizes a “skin in the game” model where users are required to stake NMR to receive NMR for their accurate predictions. If the overall hedge fund performs well, they will distribute those returns in the form of NMR to users.

Technology

Numerai allows users to create their own prediction models that they can send to an internal smart contract along with staked tokens. After a pre-designated amount of time has passed, usually at least one month, Numerai evaluates the submitted predictions. Users that perform well will receive their staked NMR as well as an NMR reward. Poor predictions will result in the staked NMR being burned. Each competition has a specified reward pool tied to the performance of the overall fund. As the fund’s performance increases the overall reward pool can grow as well. Rewards are given to users based on the performance of their models and the amount of NMR staked. In order to prevent users from mimicking the fund’s trades themselves, Numerai encrypts its trading data before sharing it. The specific artificial intelligence algorithms that Numerai uses for trading are proprietary, even though the dataset is publicly distributed. Users are not submitting their actual models but instead their predictions, allowing them to keep their models should they decide not to participate. All submissions are anonymous, as Numerai does not require participants to disclose any personal information to submit stock prediction models. The NMR token is used for staking in Numerai’s prediction tournament, holding NMR provides no other function.



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