Hedge fund Numerai is offering $50 million of its numeraire (NMR) token to quants, researchers and even fellow funds that provide original stock market Ã¢ÂÂsignalsÃ¢ÂÂ 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 sourceÃ¢ÂÂs staked NMR.
- NMR was trading 8% higher on Monday, according to CoinGecko, however the dayÃ¢ÂÂs largest pop preceded the public unveiling of Numerai Signals.
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