Numerai launches strategic NMR buyback program

ChainCatcher news, according to official sources, Numerai states that NMR is a fixed supply token with a total cap of 11 million. Since Numerai pays data scientists in NMR from its treasury, there are currently only about 3 million NMR left in the treasury, and once depleted, it will not be able to continue supporting staking and reward payments.

Therefore, Numerai has announced that it will repurchase $1 million worth of NMR on the open market. To conduct this repurchase as transparently as possible, we have communicated with the Coinbase Institutional team, who will assist in facilitating this purchase. We do not wish for the repurchase action to disrupt the NMR market in any way, so Coinbase will place orders at or near the buy price. This means that the repurchase may take some time to complete.