What is Numeraire (NMR)

Numeraire is a new form of cryptocurrency that is utilized in a unique auction system to render overfitting economically impractical. In simpler terms, it is a tool that tries to predict the stock market. Essential information for their token is available on the MEXC Digital asset introduction page. Furthermore, we are listing (NMR/USDT – Trade it here) on our Innovation Zone! Check it out now!

What is Numeraire (NMR)
What is Numeraire (NMR)

How Does Numeraire Work?

Their proposition involves a novel system that allows data scientists to effectively communicate their opinions about the quality of their models. This system involves a tournament where data scientists stake Numeraire (NMR) on their predictions. The mechanism for resolving these stakes is based on an auction that rewards correct predictions regarding a model’s capability to perform well on new data. By utilizing Numeraire, data scientists can express their confidence in their models’ real-time performance. This expression of confidence enables Muneraire to focus on the most promising models and enhance the performance of our hedge fund.

The hedge fund quality data provided is preprocessed and structured for immediate use, with obfuscation to allow free distribution. Each unique identifier corresponds to a specific stock at a particular point in time, with features describing the quantitative attributes of the stock during that period. The target feature represents an abstract measure of performance a fixed number of weeks into the future. Machine learning is employed to forecast stock market trends.

Utilize the Python and R scripts provided as examples to build your model, with all necessary tools packaged in one convenient location. Submit your predictions to control the capital of Numerai’s hedge fund and establish your reputation on the leaderboard. By staking on your model, you can earn cryptocurrency, with a total of $57,941,862 in NMR already paid out to participating data scientists.

What is the Tokenomics of NMR?

Numeraire is a token based on ERC20 Ethereum, which means it operates as a smart contract on the Ethereum blockchain. The smart contract code for Numeraire is publicly available, and all newly created tokens are sent to Numerai. Furthermore, the maximum number of Numeraire tokens that can be created is 21 million. Meanwhile, Numerai will distribute 1 million of them to data scientists based on their performance on the Numerai leaderboard. Once the initial distribution is complete, a fixed number of Numeraire tokens will generate each week until the maximum limit. Data scientists who excel in Numerai’s machine learning competition will continue to receive Numeraire tokens as a reward.

Where to buy NMR Token

You can find NMR Token here at MEXC! We are listing NMR/USDT in our Innovation Zone!

What is the Price of NMR Tokens?

The price of the NMR token is $21.33 per unit. It has a market cap of $125,602,260 and a fully diluted market cap of $234,583,834. It also has a 24-hour trading volume of $32,843,870. You can check the live price of their token right here!

How to buy NMR Tokens

You can buy NMR Tokens on MEXC by following the steps:

  1. Log in to your MEXC account and click [Trade]. Click on [Spot].
  2. Search “NMR” using the search bar to see the available trading pairs. Take NMR/USDT as an example.
  3. Scroll down and go to the [Spot] box. Enter the amount of NMR you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy NMR] to confirm your order. You will find the purchased NMR in your Spot Wallet.

You can find a detailed guide on how to buy NMR Tokens here.

Keep Yourself Updated With The Crypto Trend

Check out all of the listings in the Innovation and Assessment zones as well as the major tokens in the Main Zone – we have more amazing projects to come! What’s more, MEXC lists moonshots and offers access to trade major cryptocurrencies. Visit the Hot Projects section as well to uncover more featured popular tokens. Lastly, feel free to visit MEXC Academy to learn more about cryptocurrency!

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