Numerai Hedge Fund Offers $50M in NMR Tokens for Fresh Stock Market ‘Signals’

Hedge fund Numerai is offering $50 million of its numeraire (NMR) token to quants, researchers and even fellow funds that provide original stock market “signals” into its data clearinghouse, Numerai Signals. The startup said its new system will allow anyone to monetize novel market intelligence by sharing it with Numerai, […]

Richard Craib, Numerai's founder, speaks in New York City, April 2019.

Hedge fund Numerai is offering $50 million of its numeraire (NMR) token to quants, researchers and even fellow funds that provide original stock market “signals” into its data clearinghouse, Numerai Signals.

  • The startup said its new system will allow anyone to monetize novel market intelligence by sharing it with Numerai, whose data scientists have long crowdsourced trading strategies.
  • This can yield higher returns than if the individual personally traded on the stock market signals, Numerai claims.
  • One caveat: While anyone can input signals, only those who stake NMR can earn the payout.
  • That’s not a risk-free endeavor. A Numerai representative told CoinDesk that up to 25% of staked tokens can be earned or burned per round.
  • NMR was trading 8% higher on Monday, according to CoinGecko, however the day’s largest pop preceded the public unveiling of Numerai Signals.

UPDATE (10/12/20 19:32 UTC): This article has been updated to reflect who can utilize Numerai and how the payout mechanism works.

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