Numerai clarifies the true Total Value Locked of NMR

Richard Craib, founder of Numerai, has revealed that the Total Value Locked (TVL) of NMR is significantly higher than what is commonly reported. According to Craib, the actual TVL of NMR is approximately 20 million dollars, in contrast to the 4 million shown by platforms like CoinMarketCap.

This discrepancy is due to the unique nature of Numerai's staking mechanism. Unlike traditional DeFi protocols, Numerai uses a staking system that is not adequately reflected in conventional TVL metrics.

Features of Numerai staking

The Numerai staking system differs in several aspects:

• Prediction model: Users stake NMR to back their predictions in the Numerai data market.
• Variable rewards: Gains or losses depend on the accuracy of the predictions.
• Flexible locking: Tokens can be locked for variable periods according to the user's strategy.

These characteristics cause standard TVL measurement tools to underestimate the real value locked in the Numerai ecosystem.

Implications for DeFi Analysis

This revelation underscores the importance of considering the particularities of each protocol when evaluating metrics such as TVL. In the case of Numerai:

The substantial difference between these values highlights the need to develop more accurate methods for measuring the value locked in DeFi protocols with innovative economic models.

This situation is not exclusive to Numerai, and suggests that other DeFi projects with unique mechanisms may be experiencing similar underestimations in their reported TVL metrics.

Date: 2025-10-23

Notice: This information is for educational purposes only. Past performance does not guarantee future results.