Numeraire (NMR) API and Price Oracle

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Numeraire

NMR
$
Information
For informational use only; request a custom oracle/API for production below.
General information
Contract address
Smart contract address of the asset
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0x1776...6671
Network
Blockchain network where the asset is deployed
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Ethereum
Methodology
Pricing methodology used to determine the price of the token in USD. By default, all price feeds on the DIA App are calculated with a MAIR methodology. This parameter is customisable.Learn more about methodologies.
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MAIR
Update frequency
120 seconds is the default update frequency. This parameter is customisable.Learn more about oracle updates.
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120s
Next update
24h Volume
The total volume captured by DIA across all the integrated sources.
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Source
Volume 24h
Trades 24h
Pairs
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Token information

What is Numeraire (NMR)?

Numeraire (NMR) is a cryptocurrency that serves as the native token of the Numerai project. It was founded in 2017 by Richard Craib and his team. Numerai is a platform that uses artificial intelligence to generate market predictions and rewards data scientists who contribute accurate models. NMR is used to incentivize and reward these data scientists. The token's name, "Numeraire," comes from the Latin word for "money." It has a fixed supply of 11 million tokens.

How does Numeraire work?

Numeraire is a cryptocurrency that operates on the Ethereum blockchain. It is designed to facilitate the creation of predictive models in the field of artificial intelligence (AI) and make them accessible to a decentralized network of data scientists.

The underlying technology behind Numeraire combines elements of blockchain, AI, and crowdsourcing. It leverages the power of collective intelligence by incentivizing data scientists to contribute their predictive models to a common pool. These models are then tested on historical data to assess their accuracy and effectiveness.

To ensure fair collaboration and prevent malicious behavior, Numeraire utilizes a system called "Eradication." This mechanism selects the best-performing models and allocates a portion of the cryptocurrency rewards to the data scientists who contributed those models. This approach encourages data scientists to continuously improve their models, leading to higher-quality predictions over time.

Numeraire functions by allowing data scientists to stake their tokens on the accuracy of their models. If a model performs well, the data scientist earns additional tokens; otherwise, the staked tokens are lost. This provides an economic incentive for data scientists to contribute high-quality models and helps maintain the integrity of the predictive model ecosystem.

Overall, Numeraire harnesses the decentralized power of the blockchain, AI, and crowdsourcing to create a network of accurate and robust predictive models. By bridging the worlds of cryptocurrency and AI, Numeraire paves the way for decentralized intelligence and advancements in various industries.

What are the benefits of Numeraire?

Numeraire is a cryptocurrency that offers several benefits compared to its direct competitors. One of the key advantages of Numeraire is its innovative use of the tournament model. Unlike other platforms in the same space, Numeraire utilizes a tournament-based system to incentivize data scientists to develop accurate predictive models.

By creating a competitive environment, Numeraire encourages data scientists to continuously improve their models, leading to higher accuracy in predictions. This unique approach sets Numeraire apart from its direct competitors, as it fosters a community of skilled participants who are motivated to contribute their best work.

Another benefit of Numeraire is its focus on decentralization and security. With its integration with blockchain technology, Numeraire ensures transparency and immutability of data. This decentralized nature reduces the risk of data tampering or manipulation, which can be a concern with centralized platforms.

In addition, Numeraire's governance model allows stakeholders to have a say in the decision-making process. This ensures that the platform evolves in a way that benefits the entire community. This participatory approach is not commonly found among its direct competitors, giving Numeraire an edge in terms of community engagement and inclusivity.

Overall, Numeraire stands out from its direct competitors due to its unique tournament model, decentralization, and inclusive governance. These features contribute to its appeal among technology-savvy individuals seeking a truly innovative and community-driven platform.

What is Numeraire used for?

Numeraire (NMR) is a utility token that serves multiple purposes within the Numerai network. Numerai is a decentralized hedge fund that utilizes machine learning and artificial intelligence to generate trading strategies.

One of the primary use cases of Numeraire is as a staking mechanism. Participants in the network can stake their NMR tokens to demonstrate their confidence in the predictions generated by their machine learning models. By staking tokens, participants have the opportunity to earn additional rewards if their predictions prove to be accurate. This staking process helps to align the incentives of the participants with the overall success of the Numerai platform.

Another important use case of Numeraire is as a governance token. Token holders can participate in the decision-making process by voting on proposals related to the future development and governance of the Numerai network. This ensures a decentralized and community-driven approach to decision making.

In addition to these common use cases, Numeraire has a specific case as a reward mechanism. Numerai holds regular tournaments where data scientists and machine learning enthusiasts can submit their trading models and compete for rewards. Numeraire is the reward currency used in these tournaments, providing an incentive for participants to contribute their expertise and facilitate the growth of the Numerai ecosystem.

Overall, Numeraire plays a crucial role within the Numerai network, serving as a staking mechanism, governance token, and reward currency. These various use cases contribute to the functionality and incentivization of participants in the network, ultimately fostering the development of innovative trading strategies.

What is DIA's Numeraire API?

DIA's Numeraire API is a powerful tool that provides real-time price feeds for crypto assets. DIA sources raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, gathering information about billions of individual trades. This extensive data collection allows DIA to offer price feeds that other web3 data providers cannot match.

One key aspect of DIA's API is that it offers both free and custom feeds. Developers can access free API endpoints to test and explore the data. These free feeds are publicly available in a standard format, providing valuable information for informational purposes and development testing.

However, the real value lies in DIA's custom feeds. Users can request customized configurations for their specific needs, tailoring the sources, methodologies, update mechanisms, and more of the API price feed. These custom feeds offer greater flexibility and precision, allowing users to fine-tune the data to align with their unique requirements. To request a custom feed, users can contact DIA through Discord or Telegram.

DIA's API opens up various use cases across the blockchain ecosystem. In the DeFi space, the price information from DIA's APIs can support derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. Additionally, in the NFTfi realm, DIA's API can be utilized for peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other applications.

In summary, DIA's Numeraire API offers real-time price feeds for crypto assets, with both free and custom options. While the free feeds are useful for testing and information purposes, the customizable feeds provide enhanced functionality and precision. With DIA's API, developers and users can harness the power of real-time price data for a wide range of blockchain applications.

What is DIA's Numeraire price oracle?

DIA's Numeraire price oracle is a smart contract that provides real-time price feeds of crypto assets. It is integrated with 35+ layer 1 and layer 2 networks, allowing the deployment of price oracles in multiple blockchains. DIA's price feeds are constructed by sourcing raw data from over 85 on-chain and off-chain cryptocurrency and NFT exchanges, providing comprehensive coverage.

DIA offers demo oracles for developers to test, which can be found in their documentation. These demo oracles are free to use but are only intended for testing purposes and cannot be integrated into production applications. However, DIA also provides custom price feed oracles tailored to specific requirements. These custom oracles can be configured based on sources, methodologies, update mechanisms, and more.

To request a custom feed, users can get in touch with DIA via Discord or Telegram. This option enables users to obtain price oracle data that precisely fits their needs.

Blockchain oracles, like DIA's price oracle, are external information providers that supply verified data from outside the blockchain to smart contracts. The data they provide is crucial for various applications across the blockchain ecosystem. In the DeFi space, DIA's price oracles can be used for derivatives, options and futures, lending and borrowing markets, collateralized stablecoins, synthetic asset issuance, money markets, and more. In NFTfi applications, the oracles support peer-to-pool NFT lending and borrowing, on-chain NFT derivatives, NFT renting, NFT fractionalization, and other use cases.

In summary, while DIA offers free demo oracles for testing, their custom oracles are the highlight, providing tailored price feeds for users' specific needs. To request a custom feed, users can reach out to DIA via Discord or Telegram. These oracles have various use cases in DeFi and NFTfi applications, bringing valuable price information to the blockchain ecosystem.

Why use DIA's NMR API & price oracle?

DIA's NMR API and NMR Price Oracle offer a host of benefits for users in the blockchain ecosystem. These tools allow users to access accurate and reliable price data for cryptocurrencies and NFTs. The key advantage of using DIA's API or Price Oracle for a specific token is the high level of customization available. Users have the ability to tailor each oracle and API endpoint to meet the specific needs of their decentralized applications.

This customization includes configuration settings such as selecting the data sources that make up the feed, applying data cleaning filters and pricing methodologies, and determining the frequency and update mechanisms for the feed. This level of customization ensures that the data and oracle are robust and able to withstand unique market conditions. It also ensures that users have access to global market prices as well as specific individual or cross-chain market prices.

Transparency is another major benefit offered by DIA's API and oracles. Users have full and granular transparency throughout the entire data journey. DIA also provides tracking and monitoring tools that allow users to closely monitor the performance of their oracle and API feeds.

In summary, the benefits of using DIA's NMR API and NMR Price Oracle include high levels of customization, robustness to market conditions, access to global and specific market prices, and transparency throughout the data journey. These tools provide users with reliable and customizable price data for their decentralized applications.

Why use DIA data feeds and oracles?

Transparent
DIA provides full insight on the oracle’s data journey as well monitoring tools to track feeds in real-time.
Customisable
Oracles can be tailored to any use case in terms of data sources, methodologies and update mechanisms and much more.
Broadest coverage
DIA provides price oracles for 3,000+ cryptocurrencies: from blue-chip tokens to long-tail assets.