Numeraire is an Ethereum token that powers Numerai, a San Francisco-based hedge fund that crowdsources artificial intelligence to make investments in major stock markets around the world. Numeraire (NMR) holders can stake their NMR tokens every week on specific predictions. Successful predictions are rewarded with more NMR.
How it works
On the Numeraire Protocol, data scientists have the ability to build models to predict the stock market. Participants in the Numeraire Protocol *stake NMR based on their confidence in their prediction model and when their code helps improve the algorithm they are rewarded with more NMR. If the prediction model negatively impacts the algorithm, the participants run the risk of losing their NMR.
*Staking NMR is not available on Coinbase