NMRUSD
Numeraire / United States dollar
crypto Composite

Numerai is building a blockchain based hedge fund using crowdsourced predictions. Numerai allows users to create their own prediction models that they can send to an internal smart contract along with staked tokens. After a pre-designated amount of time has passed, usually at least one month, Numerai evaluates the submitted predictions. Users that perform well will receive their staked NMR as well as an NMR reward. Poor predictions will result in the staked NMR being burned. Each competition has a specified reward pool tied to the performance of the overall fund. As the fund's performance increases the overall reward pool can grow as well. Rewards are given to users based on the performance of their models and the amount of NMR staked. In order to prevent users from mimicking the fund's trades themselves, Numerai encrypts its trading data before sharing it. The specific artificial intelligence algorithms that Numerai uses for trading are proprietary, even though the dataset is publicly distributed. Users are not submitting their actual models but instead their predictions, allowing them to keep their models should they decide not to participate. All submissions are anonymous, as Numerai does not require participants to disclose any personal information to submit stock prediction models. The NMR token is used for staking in Numerai's prediction tournament, holding NMR provides no other function.