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Numerai, a decentralized hedge fund blending machine learning models with collective intelligence, has announced a $1 million buyback program for its main network asset, NMR coin. According to a blog post released on Thursday, purchase orders will be gradually placed at prices close to the current offers in the spot market. The company believes this method will enhance transparency and limit price volatility. At the current exchange rate, $1 million equates to approximately 110,000 NMR.
The Numbers Behind the Altcoin Buyback
In Numerai’s statement, it was specified that the buyback would be conducted directly from the spot market despite the fund’s monthly trading volume surpassing $1 billion across more than 30 global markets. Orders will remain close to the bid side and will be carried out gradually without being tied to a specific date. The completed transactions will be reported to the community regularly, enabling investors to transparently follow the process and preventing significant price spikes.
In June 2024, the asset management volume stood at $173 million and has surpassed $441 million within a year. With the expansion of the staking program, the balance of NMR coins locked by participants has grown, while the coin quantity in the project’s treasury has decreased to below 3 million. The total supply is limited to 11 million units, strengthening the expectation that the buyback will tighten liquidity in the market, creating a value balance in favor of long-term participants.
Numerai’s Staking Ecosystem
In Numerai’s weekly tournament, data scientists share predictions of their machine learning models and stake NMR coins. These predictions are transferred to the Stake‑Weighted Meta Model, weighted by the stake amount, and guide portfolio decisions. According to company data, the combined model has outperformed all individual models in the past 12 months, directly contributing to the fund’s returns.
Founder and CEO Richard Craib summarized the success by stating, “The Meta Model’s performance has created its own benchmark, surpassing every individual model.” Craib emphasized the growing role of NMR within the fund ecosystem, linked to the expansion of managed assets and increased institutional interest.
