Numerai launches strategic NMR repurchase plan

BlockBeats news, on July 17th, according to official sources, Numerai stated that NMR is a fixed supply token with a total limit of 11 million tokens. Due to Numerai's payment of NMR from the treasury to data scientists, there are currently only about 3 million remaining in the treasury. Once depleted, it will no longer be able to support staking and reward payments. Therefore, Numerai announced that it will repurchase NMR worth $1 million on the open market. In order to conduct this repurchase as transparently as possible, we have communicated with the Coinbase Institutional team and they will assist in facilitating this purchase. We do not want 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.