Numeraire

Numeraire (NMR) is a token built on Ethereum that serves as the staking currency for Numerai, a hedge fund that crowdsources stock-market predictions from data scientists around the world. The project claims to address the problem of aligning the incentives of independent modelers with the fund's need for accurate forecasts. Data scientists stake NMR on their own predictions, putting real value at risk to signal genuine confidence in their work.

NMR lives on the Ethereum blockchain and is used within the Erasure protocol as a staking and slashing mechanism. When a data scientist submits a model to the Numerai tournament, they lock NMR as collateral; if their predictions perform well they earn more NMR, and if they perform poorly their staked tokens can be destroyed, a process called burning. The token has no consensus algorithm of its own since it runs on top of Ethereum rather than operating its own chain.

The data stored for this asset does not include a protocol fee stream, meaning there is no recorded revenue flowing to token holders from fees paid by users or third parties. The total value locked stands at 2,571.56 USD at the point in time measured, and the ratio of market capitalization to that locked value is 32,779, reflecting how little capital is locked relative to the asset's market size. The fully diluted valuation to TVL ratio is 48,470.07 over the same period. Because no fee income is captured in this data set, fee-based valuation measures that this site might apply to other assets are not meaningful here.