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About Numeraire
Numeraire (NMR) is an ERC-20 utility token used within the Numerai ecosystem, a San Francisco-based hedge fund that utilizes a decentralized network of data scientists to build machine learning models for financial market prediction. The token serves as a staking mechanism where participants stake NMR on their models to demonstrate confidence; successful predictions are rewarded with additional NMR, while poor performance results in the staked tokens being burned. It is recognized as one of the first cryptocurrencies released by a hedge fund to incentivize and coordinate global data science contributions.
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