Numerai announced a plan to repurchase $1 million of its token, Numeraire (NMR), from the market, signaling continued investment in its staking ecosystem. The hedge fund has increased assets under management from $173 million to over $441 million and trades over $1 billion monthly using machine learning predictions. Thousands of data scientists generate models for the fund, incentivized by staking NMR on predictions. Scarcity of NMR could limit future staking rewards, and the buyback aims to affirm commitment and maintain economic stability.
Numerai has more than doubled its assets under management (AUM), growing from approximately $173 million to over $441 million.
The success of our Stake-Weighted Meta Model speaks for itself: it's outperformed every individual model over the past year.
With a fixed supply capped at 11 million, and roughly 3 million NMR remaining in Numerai's treasury, the company has limited capacity to continue distributing staking rewards.
The buyback will help underscore its long-term commitment to its participants and maintain economic stability.
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