Numeraire Dashboard

Every month, Numerai disburses NMR from its treasury to reward data scientists — typically $180K–$530K/month in recent history. At the same time, Numerai has begun buying NMR back from the open market. Two buybacks of $1M each have been executed so far in seven months.

Now, imagine the trajectory continues. As the hedge fund's AUM grows (now past $441M with a $500M J.P. Morgan capacity commitment), buybacks could accelerate. There exists a hypothetical tipping point — The Tippening — where the annual dollar value of NMR bought back exceeds the annual dollar value of NMR paid out to data scientists. At that crossover, the treasury would be a net accumulator of NMR instead of a net spender, fundamentally reshaping the token's supply dynamics.

Below the tipping point, NMR flows outward from the treasury. Above it, the flow reverses — and a fixed-supply, deflationary asset with burns on top starts looking very different.