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

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: Only current NMR tokenholders (and those interested in amassing yet more NMR tokens) can participate. Numerai will reward profitable signals based on the source’s staked NMR.
  • NMR was trading 8% higher on Monday, according to CoinGecko, however the day’s largest pop preceded the public unveiling of Numerai Signals.

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