Numeraire

Numeraire is the token issued on Ethereum in 2017 by Numerai, a US-based quantitative hedge fund. Numerai has set up a structure in which data scientists in different countries build machine learning models on anonymized financial datasets and submit their predictions to a tournament held in regular rounds.

Participants stake NMR on their predictions to show confidence in their models. The predictions are later compared with actual market data; well-performing models are rewarded with additional NMR, while for weak results part of the staked tokens is burned. Numerai combines these predictions to build the fund's meta model. A similar approach is used in the Numerai Signals tournament, where users submit their own market signals.

NMR is a token under the Ethereum token standard, and its main use is this staking mechanism; on DefiLlama, the project is also tracked under the name of the Erasure protocol developed by Numerai. The Numeraire price on Lzzo.com is based on the Binance NMR/USDT pair and converted to US dollars using Coinbase Exchange's USDT/USD rate; it is for information only.