What is the issuance and circulation of NMR coins?

Listed on major exchanges and ranking among the top 300 cryptocurrencies by market cap, NMR coins facilitate governance, network security, and rewards on the Numerai platform.

Oct 05, 2024 at 07:47 pm

Issuance and Circulation of NMR Coins

1. Issuance

• NMR coins were officially issued on April 4, 2018, with a total supply of 1 billion coins.

• The initial distribution of coins was as follows:

  • 58% (580 million coins) to community sale participants
  • 30% (300 million coins) to investors
  • 12% (120 million coins) to the Numire team

2. Circulation

• NMR coins are listed and traded on various cryptocurrency exchanges, including Binance, OKEx, and Huobi.
• The live price of NMR can be tracked on coin market cap platforms such as CoinMarketCap and CoinGecko.
• As of August 10, 2023, the circulating supply of NMR coins is approximately 491.8 million coins.
• The market capitalization of NMR is approximately $267 million, ranking it among the top 300 cryptocurrencies by market cap.

3. Use Cases

• Governance: NMR coin holders can participate in the governance of the Numerai platform by voting on proposals and electing members to the Numerai Council.
• Network Security: NMR coins are used to stake Numeraire AI models, which contribute to the security and accuracy of the platform's predictions.
• Rewards: NMR coin holders who stake their coins earn a proportional share of the platform's rewards.
• Data Generation: NMR coins can be exchanged for the platform's proprietary datasets, which can be used for training machine learning models and research.

4. Future Development

The Numire team continues to develop and expand the use cases for NMR coins, including:

• DeFi: NMR coins could potentially be used in decentralized finance (DeFi) applications, such as lending and borrowing.
• NFTs: NMR coins could be used to represent unique and scarce digital assets, such as collectibles and artwork.
• Interoperability: NMR coins could be integrated with other blockchain platforms to enhance functionality and cross-platform compatibility.