Numeraire (NMR)USD

Numeraire is an ERC-20 token on Ethereum that powers Numerai, a hedge fund and data-science tournament platform that crowdsources machine-learning models to predict financial markets. Richard Craib founded Numerai around 2015, and the Numeraire token launched on the Ethereum mainnet in 2017, distributed directly to platform data scientists rather than sold through an initial coin offering. Numeraire is not a standalone blockchain and has no independent consensus mechanism; it operates entirely on Ethereum as a staking and reward token. Data scientists stake NMR on their prediction models submitted to Numerai and the Erasure protocol. Successful predictions earn NMR rewards, while unsuccessful ones result in the staked tokens being permanently burned. The native token, NMR, is used for staking on model predictions, receiving payouts, and participating in the Erasure prediction-staking protocol. Following the NMR 2.0 upgrade, the maximum supply was reduced from 21 million to 11 million tokens, minting was permanently disabled, and supply can only decrease over time through burns. All 11 million tokens have been minted, with roughly 3 million locked until 2028 for future rewards. NMR is a deflationary asset because circulating supply shrinks as unsuccessful stakes are destroyed.