Question 1

What is NMR?

Accepted Answer

NMR (Numeraire) is Numerai's utility token. Its core use is to require model participants to stake against their own prediction submissions. Participants stake NMR on their submissions; after scoring, Numerai pays NMR rewards based on the outcome or burns a portion of the staked NMR. NMR is therefore not merely a submission credential in this mechanism: it connects a submitter's judgment about model performance with tokens that can be lost. Official documentation states that only your own submissions may be staked; staking cannot be used to invest in other people's models.

Question 2

How is an NMR stake settled on Numerai?

Accepted Answer

Settlement of an NMR stake depends on the result after a submission has been scored: a positive score pays additional NMR, while a negative score burns a portion of the staked NMR. Burned NMR is sent to a null address and can no longer be used by anyone, including Numerai; it is not transferred to the platform, other participants, or a purported “house.” During a submission's scoring period, the staked NMR is locked, and the submitter authorizes Numerai to pay or burn the relevant stake based on the outcome above. The staking risk is borne by the submitter's model performance; staking should not be viewed as lending assets to Numerai, and rewards should not be understood as fixed interest.

Question 3

Can I still submit a model without staking NMR?

Accepted Answer

Staking is optional. Unstaked submissions are still scored in the same way as staked submissions, so participants can first build a live performance record without taking on the risk of NMR being burned. The difference lies in use by the Meta Model: an unstaked model has zero weight, is not included in the stake-weighted Meta Model, and is not used by the fund. A staked submission participates in that weighted process by taking risk. In other words, “being eligible for scoring” and “being able to influence the stake-weighted model” are two different conditions.

Question 4

How does Atomic Blockchain Staking change NMR staking records and claims?

Accepted Answer

Numerai's Atomic Blockchain Staking is its native on-chain staking system, also called staking v3 in API and contract names. Rather than placing multiple unsettled rounds into one shared stake, it defines a separate stake for each “round, staker, model” combination, backed by actual NMR in the staking contract. After a round settles, a participant may claim the original stake plus the payout, or claim the result after the burn amount is deducted; both steps can also be completed through one “claim and restake” transaction. Atomicity means that the transaction either succeeds as a whole or reverts as a whole, avoiding an intermediate state in which only the claim or only the restake is completed.

Question 5

Does holding or staking NMR grant equity, governance, or revenue rights in Numerai?

Accepted Answer

Holding or staking NMR does not represent equity in Numerai, its hedge fund, or its assets under management, and it does not grant voting, governance, dividend, revenue, or profit-sharing rights. NMR's stated function is staking and settling prediction submissions, rather than serving as a certificate of company or fund ownership. This boundary is especially important for understanding staking: even if a submission receives an NMR payout, the payment results from that submission's outcome in the scoring mechanism; it does not constitute a claim on the fund's performance, fees, or profits.

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