The current price of Numeraire is ₺305.47. Over the last 24 hours, Numeraire has increased by +4.94%. It currently has a circulating supply of 8,007,701 NMR and a maximum supply of 11,000,000 NMR, giving it a fully diluted market cap of ₺2.45B. At present, the Numeraire coin holds the 218 position in market cap rankings. The Numeraire/TRY price is updated in real-time.
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Numeraire (NMR) is a decentralized platform built on blockchain technology with a mission to transform the realm of predictive modeling and quantitative finance. Developed by Numerai, a company renowned for its expertise in crowdsourcing artificial intelligence (AI) algorithms for stock market predictions.
Numeraire incentivizes data scientists to contribute their models and actively participate in the platform. The platform encrypts predictions based on historical market data, ensuring privacy and intellectual property protection. Through a tournament-style competition, the most successful algorithms are chosen and combined into an ensemble model for making real-world trading decisions.
The Numeraire team
The Numeraire project was initiated by Richard Craib, a seasoned hedge fund quantitative trader, and mathematician. To bring the project to life, he assembled a team of experts from diverse domains, encompassing machine learning, cryptography, and finance. This collaborative team harnesses its collective expertise to drive innovation in quantitative finance, ensuring that Numeraire remains at the forefront of advancements in the industry.
How does Numeraire work?
Numeraire implements a distinctive methodology to generate robust predictive models. Data scientists globally can submit their machine-learning algorithms to the platform. However, instead of sharing their raw data, they transmit encrypted predictions derived from the historical market data supplied by Numerai.
This encryption safeguards the privacy and intellectual property of the participants. The platform employs a "tournament style competition" approach to assess the submitted models. It identifies and aggregates the most effective algorithms into an ensemble model, subsequently informing real-world trading decisions. Data scientists whose predictions contribute positively to the ensemble model are rewarded with NMR tokens.
Numeraire native token — NMR
NMR is an ERC-20 token that operates on the Ethereum blockchain, serving various functions within the Numerai ecosystem. It acts as a medium of exchange, facilitating transactions within the platform, and also serves as a staking mechanism to incentivize data scientists and promote their active involvement. Additionally, NMR functions as a governance token, granting token holders the ability to participate in decision-making processes and have a voice in shaping the platform's future direction.
NMR tokenomics
The total supply of NMR tokens is set at 11 million, with a distribution strategy that aligns the participants' incentives and fosters the platform's long-term sustainability. Numeraire employs periodic auctions to introduce new NMR tokens, utilizing the proceeds to support platform development and incentivize active participation from users.
NMR token use cases
In addition to its role in the prediction modeling ecosystem, NMR has several other use cases. NMR token holders can participate in governance by voting on platform upgrades, model selection, and other significant decisions. NMR can also be traded on various cryptocurrency exchanges, enabling users to buy, sell, and trade the token for speculative purposes.
NMR token distribution
Numeraire has a maximum token supply of 11 million. Among these tokens, 1 million NMR tokens are allocated to data scientists based on their performance on the Numeraire leaderboard.
After the initial distribution, a fixed number of NMR tokens will be generated weekly until the maximum supply is reached. Outstanding data scientists who excel in the machine learning competition on Numeraire will receive NMR tokens as ongoing rewards. This distribution mechanism ensures a sustained incentive structure for participants and contributes to a thriving ecosystem within the Numeraire platform.
Revolutionizing predictive modeling and quantitative finance
Numeraire is a groundbreaking platform that leverages the power of AI and blockchain technology to revolutionize predictive modeling in the financial industry.
By establishing a decentralized network of data scientists and incentivizing their contributions with NMR tokens, Numeraire has created a unique ecosystem that consistently enhances its predictive models.
As the platform expands and attracts more participants, Numeraire has the potential to reshape the landscape of quantitative finance, opening up new opportunities for innovation and collaboration.
Number of posts mentioning a token in the last 24h. This can help gauge the level of interest surrounding this token.
Contributors
Number of individuals posting about a token in the last 24h. A higher number of contributors can suggest improved token performance.
Interactions
Sum of socially-driven online engagement in the last 24h, such as likes, comments, and reposts. High engagement levels can indicate strong interest in a token.
Sentiment
Percentage score reflecting post sentiment in the last 24h. A high percentage score correlates with positive sentiment and can indicate improved market performance.
Volume rank
Volume refers to post volume in the last 24h. A higher volume ranking reflects a token’s favored position relative to other tokens.
In the last 24 hours, there have been 174 new posts about Numeraire, driven by 113 contributors, and total online engagement reached 4.3K social interactions. The sentiment score for Numeraire currently stands at 91%. Compared to all cryptocurrencies, post volume for Numeraire currently ranks at 6262. Keep an eye on changes to social metrics as they can be key indicators of the influence and reach of Numeraire.
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Posts
174
Contributors
113
Interactions
4,287
Sentiment
91%
Volume rank
#6262
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Posts
95
Interactions
3,928
Sentiment
91%
Numeraire FAQ
What is NMR?
Numeraire (NMR) is a decentralized platform that aims to revolutionize predictive modeling and quantitative finance. It incentivizes data scientists to contribute by submitting encrypted predictions based on historical market data. Through a rigorous selection process, the platform identifies the top-performing algorithms and combines them into an ensemble model, which is then utilized for making real-world trading decisions.
What are the benefits of using NMR tokens?
Using NMR tokens within the Numerai platform offers several benefits to participants. Firstly, it enables seamless transactions, facilitating the exchange of value and rewards within the ecosystem.
Secondly, staking NMR tokens incentivizes active participation and provides rewards for accurate predictions. Lastly, NMR holders can participate in governance, granting them a voice in essential platform decisions. These benefits create a dynamic and engaging environment for Numerai participants, fostering collaboration and driving the platform's success.
Where can I buy NMR tokens?
Easily buy NMR tokens on the OKX TR cryptocurrency platform. One available trading pair in the OKX TR spot trading terminal is NMR/USDT.
Currently, one Numeraire is worth ₺305.47. For answers and insight into Numeraire's price action, you're in the right place. Explore the latest Numeraire charts and trade responsibly with OKX TR.
What is cryptocurrency?
Cryptocurrencies, such as Numeraire, are digital assets that operate on a public ledger called blockchains. Learn more about coins and tokens offered on OKX TR and their different attributes, which includes live prices and real-time charts.
When was cryptocurrency invented?
Thanks to the 2008 financial crisis, interest in decentralized finance boomed. Bitcoin offered a novel solution by being a secure digital asset on a decentralized network. Since then, many other tokens such as Numeraire have been created as well.
The social content on this page ("Content"), including but not limited to tweets and statistics provided by LunarCrush, is sourced from third parties and provided "as is" for informational purposes only. OKX TR does not guarantee the quality or accuracy of the Content, and the Content does not represent the views of OKX TR. It is not intended to provide (i) investment advice or recommendation; (ii) an offer or solicitation to buy, sell or hold digital assets; or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, involve a high degree of risk, can fluctuate greatly. The price and performance of the digital assets are not guaranteed and may change without notice.
OKX TR does not provide investment or asset recommendations. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition. Please consult your legal/tax/investment professional for questions about your specific circumstances. For further details, please refer to our Terms of Use and Risk Warning. By using the third-party website ("TPW"), you accept that any use of the TPW will be subject to and governed by the terms of the TPW. Unless expressly stated in writing, OKX TR and its affiliates (“OKX TR”) are not in any way associated with the owner or operator of the TPW. You agree that OKX TR is not responsible or liable for any loss, damage and any other consequences arising from your use of the TPW. Please be aware that using a TPW may result in a loss or diminution of your assets. Product may not be available in all jurisdictions.
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