Decentralized hedge fund Numerai has announced plans to buy back $1 million worth of Numeraire tokens. This move underscores their focus on investments in the staking ecosystem.
Strategic Token Buyback
Numerai, powered by crowdsourced machine learning, has announced its intention to buy back $1 million of its Numeraire (NMR) tokens from the open market. This buyback reflects the company's ongoing commitment to strengthening its staking ecosystem.
AUM Growth
Over the past year, Numerai's assets under management have more than doubled, increasing from approximately $173 million to over $441 million. The hedge fund now trades more than $1 billion per month across over 30 global markets.
Economic Stability and Token Scarcity
Moreover, given the fixed supply of NMR capped at 11 million tokens and roughly 3 million remaining in Numerai's treasury, the company faces limited capacity to continue distributing staking rewards at historical levels. The token buyback underscores the company's long-term commitments and maintains economic stability.
This token buyback represents a strategic step for Numerai, reaffirming their commitment to participants and focus on long-term economic stability.
