Hedge fund Numerai, utilizing crowdsourced machine learning, has announced its plans to buy back $1 million of Numeraire tokens from the open market.
Numeraire Token Buyback
Numerai announced a buyback of Numeraire (NMR) tokens amounting to $1 million. This move emphasizes their long-term investment in the staking ecosystem, reflecting the successes achieved by the fund.
Assets Under Management Growth
Over the past year, Numerai has more than doubled its assets under management, growing from approximately $173 million to over $441 million. The fund trades over $1 billion per month across more than 30 global markets.
Role of NMR in the Ecosystem
Richard Craib, Founder and CEO of Numerai, stated, “The success of our Stake-Weighted Meta Model speaks for itself: it’s outperformed every individual model over the past year.” He also mentioned that as AUM grows, the role of NMR is becoming increasingly critical.
The buyback will be executed gradually to ensure transparency. This move demonstrates Numerai's long-term commitment to maintain economic stability within its ecosystem.
