Question 1

What is Numeraire?

Accepted Answer

Numeraire is a platform designed by Numerai to improve the quality and reliability of predictive models in financial data science competitions. It addresses the problem of overfitting—where models perform well on historical (training) data but fail on unseen (real-world) data—by introducing a staking mechanism tied to model confidence.

Participants in Numerai’s machine learning tournament build predictive models using provided data and submit their predictions without accessing raw datasets. To signal confidence in their models, data scientists stake tokens, and their compensation is based on how well their models perform on unseen data. This creates an incentive for participants to focus on building models that generalise, rather than optimise for the historical dataset.

The platform also introduces a novel mechanism that aligns economic incentives with performance, helping to surface models that are more likely to succeed in real-world market conditions. The end goal is to enhance the investment strategies of Numerai’s hedge fund by integrating crowd-sourced intelligence while reducing susceptibility to data overfitting.

Question 2

What is NMR used for?

Accepted Answer

NMR is an Ethereum-based ERC-20 token used as a staking mechanism within the Numerai ecosystem. Its primary functions are:

* **Staking on predictions:** Data scientists submit predictions and stake NMR tokens to express their confidence in their model’s performance.

* **Incentivising performance:** Participants with accurate models on unseen data are rewarded in fiat currency and their NMR stakes are returned.

* **Penalty for poor performance:** If the predictions underperform, the staked NMR may be destroyed (burned), introducing an economic cost to overfitting or poor modelling.

The token is not used to pay fees or access the platform. Instead, it serves as a mechanism to reveal users' confidence in their models and to align incentives across participants. The staking process is governed by a Dutch auction system that adjusts rewards based on performance and relative confidence.

Question 3

Who created Numeraire (NMR)?

Accepted Answer

Numeraire was developed by Numerai, a hedge fund based in San Francisco. The whitepaper was authored by Richard Craib (Founder and CEO of Numerai), Geoffrey Bradway, and Xander Dunn, with input from Joey Krug.

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	NMR-USDT NMRUSDT	binance	AA	10.58USDT	-7.03%	70,496.73NMR	6,145	11.38USDT	11.44USDT
2	NMR-USD NMR-USD	coinbase	AA	10.57USD	-7.12%	39,760.60NMR	2,050	11.38USD	11.42USD
3	NMR-USDT NMR_USDT	whitebit	BB	10.58USDT	-7.11%	21,526.67NMR	6,268	11.39USDT	11.48USDT
4	NMR-USDT NMR-USDT	okex	A	10.60USDT	-6.99%	19,136.30NMR	1,790	11.40USDT	11.45USDT
5	NMR-TRY NMRTRY	binance	AA	524.60TRY	-6.90%	18,206.50NMR	1,597	563.50TRY	563.50TRY
6	NMR-USDT NMRUSDT_SPBL	bitget	BB	10.60USDT	-7.09%	7,106.27NMR	1,037	11.40USDT	11.43USDT
7	NMR-USDT NMR_USDT	gateio	A	10.61USDT	-7.04%	6,606.13NMR	1,302	11.41USDT	11.44USDT
8	NMR-USDT NMR-USDT	kucoin	BB	10.60USDT	-7.21%	4,883.85NMR	523	11.42USDT	11.44USDT
9	NMR-USD NMRUSD	kraken	AA	10.58USD	-7.19%	4,263.42NMR	216	11.40USD	11.43USD
10	NMR-EUR NMREUR	kraken	AA	9.44EUR	-7.18%	2,278.14NMR	206	10.17EUR	10.17EUR
11	NMR-USDC NMR-USDC	okex	A	10.56USDC	-7.30%	1,055.64NMR	143	11.39USDC	11.44USDC
12	NMR-USD NMR_USD	cryptodotcom	AA	10.55USD	-7.21%	915.49NMR	466	11.37USD	11.45USD
13	NMR-EUR NMR-EUR	okex	A	9.44EUR	-7.07%	500.77NMR	46	10.16EUR	10.16EUR
14	NMR-ETH NMR_ETH	gateio	A	0.004443ETH	-2.50%	18.04NMR	15	0.004557ETH	0.004557ETH
15	NMR-USDT NMR_USDT	cryptodotcom	AA	10.70USDT	-7.23%	13.23NMR	7	11.53USDT	11.53USDT
16	NMR-USDT nmrusdt	huobipro	C	10.78USDT	-5.35%	171,967.53NMR	32,223	11.39USDT	12.84USDT
17	NMR-KRW KRW-NMR	upbit	B	14,200.00KRW	-6.15%	130,548.39NMR	3,167	15,130.00KRW	15,190.00KRW
18	NMR-USDT NMR_USDT	coinw	-	10.59USDT	-7.09%	28,928.06NMR	3,250	11.39USDT	11.44USDT
19	NMR-USDT nmr_usdt	lbank	C	10.57USDT	-7.09%	18,172.02NMR	2,848	11.38USDT	11.44USDT
20	NMR-EUR NMR-EUR	bitvavo	B	9.45EUR	-6.76%	16,980.98NMR	649	10.13EUR	10.18EUR
21	NMR-TRY NMRTRY	btcturk	E	525.69TRY	-6.29%	14,827.56NMR	442	561.00TRY	564.60TRY
22	NMR-USDT NMRUSDT	mexc	C	10.58USDT	-7.11%	14,369.99NMR	3,416	11.39USDT	11.45USDT
23	NMR-USDT NMR_USDT	bydfi	-	10.58USDT	-7.11%	14,048.91NMR	1,962	11.39USDT	11.44USDT
24	NMR-KRW NMR_KRW	bithumbkorea	-	14,170.00KRW	-6.10%	12,318.91NMR	627	15,090.00KRW	15,150.00KRW
25	NMR-USDT NMR-USDT	bigone	-	10.57USDT	-6.79%	11,401.11NMR	4,660	11.34USDT	11.49USDT
26	NMR-USDT NMR_USDT	p2pb2b	D	10.60USDT	-7.02%	7,674.10NMR	603	11.40USDT	11.43USDT
27	NMR-USDT NMR_USDT	bitunix	C	10.57USDT	-7.12%	7,790.29NMR	6,503	11.38USDT	11.44USDT
28	NMR-USD NMR_USD	p2pb2b	D	10.58USD	-7.27%	6,540.11NMR	595	11.41USD	11.44USD
29	NMR-USDT NMR-USDT	bingx	D	10.59USDT	-6.94%	4,935.34NMR	6,786	11.38USDT	11.45USDT
30	NMR-USDT nmr_usdt	digifinex	D	10.60USDT	-7.00%	2,835.00NMR	3,617	11.39USDT	11.44USDT
31	NMR-EUR NMREUR	bit2me	B	9.44EUR	-7.18%	2,355.35NMR	211	10.17EUR	10.17EUR
32	NMR-USDT NMRUSDT	btcturk	E	10.58USDT	-6.87%	1,626.32NMR	46	11.36USDT	11.36USDT
33	NMR-ETH NMRETH	mexc	C	0.004438ETH	-2.93%	592.08NMR	1,468	0.004572ETH	0.004590ETH
34	NMR-USDT NMRUSDT	bitrue	D	10.60USDT	-7.02%	440.75NMR	1,250	11.40USDT	11.44USDT
35	NMR-BTC BTC-NMR	upbit	B	0.0₃1294BTC	-3.96%	281.19NMR	37	0.0₃1347BTC	0.0₃1347BTC
36	NMR-INR NMRINR	coindcx	-	1,063.00INR	-6.75%	171.49NMR	49	1,139.90INR	1,141.20INR
37	NMR-USDT NMR_USDT	cryptology	D	8.53USDT	0.00%	0NMR	0	8.53USDT	8.53USDT
38	NMR-IDR nmridr	indodax	E	193,000.00IDR	-3.98%	46.62NMR	25	201,004.00IDR	214,944.00IDR
39	NMR-KRW nmr_krw	korbit	C	15,100.00KRW	0.00%	0NMR	0	15,100.00KRW	15,100.00KRW
40	NMR-ETH NMR_ETH	bilaxy	-	0.005544ETH	0.00%	0NMR	0	0.005544ETH	0.005544ETH
41	NMR-USDT NMRUSDT	binanceusa	B	10.88USDT	-4.90%	1.24NMR	1	11.44USDT	11.44USDT
42	NMR-BRL NMR-BRL	mercadobtc	C	53.71BRL	-5.17%	0.8781NMR	2	56.64BRL	56.64BRL
43	NMR-USDT NMR_USDT	poloniex	C	8.10USDT	1.00%	0.8032NMR	10	8.02USDT	18.03USDT
44	NMR-USDT NMRUSDT	coinex	C	14.04USDT	0.00%	0NMR	0	14.04USDT	14.04USDT
45	NMR-BTC NMRBTC	hitbtc	E	0.0₃1661BTC	0.00%	0NMR	0	0.0₃1661BTC	0.0₃1661BTC
46	NMR-USDT USDT-NMR	upbit	B	11.00USDT	-4.35%	0.04636NMR	1	11.50USDT	11.50USDT
47	NMR-BRL nmrbrl	foxbit	-	51.40BRL	-8.55%	0.01945NMR	1	56.21BRL	56.21BRL
48	NMR-USDT NMRUSDT	latoken	D	11.03USDT	0.00%	0NMR	0	11.03USDT	11.03USDT
49	NMR-USDT NMRUSDT	hitbtc	E	7.65USDT	0.00%	0NMR	0	7.65USDT	7.65USDT