Numeraire is a decentralized open-sourced ERC-20 utility token developed by the team of crowdsourced quant hedge fund Numerai. The platform organizes competitions where data scientists create machine learning models based on artificial intelligence for prediction of stock market moves. Numeraire is a cryptocurrency that powers Numerai, a San Francisco-based hedge fund that crowdsources artificial intelligence to make investments in major stock markets around the world. Numeraire holders can stake their NMR tokens every week on specific predictions. Numeraire is an economic term that represents a unit in which prices are measured. A numeraire is usually applied to a single good, which becomes the base value for the entire index or market. By having a numeraire, or base value, it allows us to compare the value of goods against each other.
Original author – Richard Craib
Initial release – 17 August 2020
Development status – Active
Website – numer.ai