Numeraire Tippening Dashboard
ERC-20 · Ethereum · AI Hedge Fund
Feb 22, 2026
NMR / USD — Approximate Price
~$8.18
Prices vary by exchange — sourced from CoinMarketCap, CoinGecko, Coinbase
◆
Max Supply
11,000,000
Hard cap — the maximum NMR tokens that will ever exist
🔥
Total Supply
10,646,515
Current tokens in existence — only decreases via burns
◎
Circulating Supply
7,485,305
Tokens in circulation, excluding Numerai treasury
⚡
Currently Staked
1,266,707
Tokens locked in stakes on Numerai & Erasure protocol
11M
MAX SUPPLY
Free Circulating
56.5%
Treasury Held
28.7%
Staked (Locked)
11.5%
Burned Forever
3.2%
🔥 Deflationary Burn Tracker
353,485 NMR
burned
10,646,515 NMR
remaining
Burn rate:
3.2%
of max supply
💰 Strategic Token Buybacks
$2M Total
$1,000,000
Jul 17, 2025
✓ Completed
First strategic buyback announced as AUM doubled from $173M to $441M. Executed gradually via Coinbase
Institutional at or near bid prices to avoid market disruption. Approximately ~110,000 NMR repurchased
from the open market to replenish treasury reserves.
$1,000,000
Feb 16, 2026
✓ Completed
Second strategic buyback announced at NumerCon 2026, executed over two weeks via Coinbase
Institutional. A total of 116,720.83 NMR purchased at a gross average price of $8.5675 for
$1,000,000.01. Ensures a healthy treasury balance to support ongoing staking and tournament payouts
ahead of the Atomic Blockchain Staking launch in July 2026.
The Tippening
When buybacks outpace payouts — what happens then?
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.
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.
Annual Payouts vs. Buybacks (Illustrative)
NMR Paid Out (treasury → scientists)
NMR Bought Back (market → treasury)
Hypothetical crossover
⚠ Important: The Tippening is a community thought experiment, not a commitment or prediction by
Numerai. As a regulated hedge fund, Numerai has not committed to any future buyback schedule, and securities
laws prevent them from making such commitments. Past buybacks do not guarantee future buybacks. The illustrative
chart above uses approximate payout data from public blog posts and is for conceptual purposes only.
📊 Historical Stakes
2,409,325
Total stakes placed since inception on Numerai and Erasure protocols — reflecting
data scientist participation over the years.
📜 Erasure Agreements
3,571
On-chain agreements created on the Erasure protocol for decentralized prediction
staking since launch.
Total Staked (All)
1,266,707 NMR
Across Numerai tournament + Erasure protocol (includes off-chain managed stakes)
On-Chain Erasure Stake
852,224 NMR
Tokens locked in on-chain agreements only, excluding Numerai-managed off-chain stakes
🏦 Numerai Treasury Wallets
0x1105aFAF3002a48A305AFD631e3cb57277ceB0EA
click to copy
0xb1544C7f5D81E93A51a84382d08C6c2bd952e859
click to copy
0x0000000000377D181A0ebd08590c6B399b272000
click to copy
0x67b18F10C0Ff8C76e28a383B404E8e6FDEfe2050
click to copy
🏛️ Numerai Council of Elders (CoE) Multisig Wallet
0xF58B7c28DAF13926329ef0c74FA3f7258f5A9131 councilofelders.eth
click to copy