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Fundraising — Improved FCAS — Erasure Bay Highlights 📣

Anthony Mandelli
Jun 4 · 4 min read
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“NMR is all about having skin in the game — it would be cringe if I didn’t participate” — Richard Craib

💸 Numerai raises $3 million in funding

Numerai has raised $3 million in a recent sale of NMR led by Union Square Ventures and Placeholder with CoinFund and Dragonfly Capital. Numerai’s Founder Richard Craib also participated.

“Richard and the Numerai team have built an exceptional platform over the past few years and the latest initiative, the Erasure protocol, is already generating valuable information and insights within its trustless marketplace”, says Alex Felix, Managing Partner at CoinFund.

Joel Monegro (Placeholder) and Fred Ehrsam (Paradigm) in discussion at ErasureCon 2019

“Enabling new markets and giving market access to more people are the killer apps of crypto, and we’re excited by the progress Numerai is making in both of these areas with the launch of Erasure Bay,” said Tom Schmidt of Dragonfly Capital Partners.

Read more at The Block, CoinDesk and ChainNews:

🏆 Erasure protocol tops DeFi Pulse daily growth chart

Recently, the Erasure protocol saw its total value locked increase by over 18%, the most of any project tracked by DeFi Pulse:

https://defipulse.com/erasure

👨‍🎓 NMR’s updated report card

As recently reported in The Street, Flipside Crypto’s Fundamental Crypto Asset Score (FCAS) for NMR grew significantly during May, receiving an “A Grade”.

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Image courtesy of The Street

Flipside’s FCAS is a comparative metric used to assess the fundamental health of crypto projects, providing institutions with a means to track important information on different digital assets.

💅 Frontend facelift (cont.)

Since the previous update, the Numerai team has been hard at work improving the Erasure Bay frontend to make requesting information even easier.

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Keep your eyes on the Erasure Bay website as it evolves, and remember to let Jonathan know if you have any feedback or suggestions!

🐍 Mike talks Python and machine learning

Numerai data scientist Mike Phillips was quoted in a recent post by neptune.ai about best practices used by 41 different ML startups.

On Pandas and Scitkit-learn, Mike said:

“Modern Python libraries like Pandas and Scikit-learn have 99% of the tools that an ML team needs to excel. Though simple, these tools have extraordinary power in the hands of an experienced data scientist.”

🍇 Protocol stats

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Chart and statistics provided by DeFi Pulse as at June 4th, 2020

Total value locked is equivalent to:

  • $2.4M USD
  • 9.9K ETH
  • 244 BTC

NMR locked:

  • 96.8K
  • 0.88% supply locked

📊 Community-built analytics

The talented data scientists at Omni Analytics Group updated their Erasure Bay analysis infographic:

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Notable takeaway: most numbers have roughly doubled in the past month!

Check out the whole graphic on Twitter.

🍕 Most interesting requests

Erasure Bay saw 49 new requests in May. Here are some of the highlights:

📊 Get published (open)

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https://twitter.com/ErasureBay/status/1257071836241604610

🔢 Updated infographics (closed)

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https://twitter.com/ErasureBay/status/1263155165315469312

🎶 Beauty (closed)

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https://twitter.com/ErasureBay/status/1265511086255677442

👨‍🔬 User research (closed)

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https://twitter.com/ErasureBay/status/1262868376470163456

💻 Software engineering (open)

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https://twitter.com/ErasureBay/status/1260314014145318913

💟 Hiring (closed)

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https://twitter.com/ErasureBay/status/1258146288828166144

🎓 Upcoming Office Hours

The next Erasure Bay Office Hours will be announced soon. Join the call to ask questions, give feedback, or make feature requests!

In the last office hours, we received a development update on the then-recently released Reveals feature, thoughts on allowing multiple people to fund a single request, and Jonathan invited everyone to slide into his DMs with any feedback on the Erasure Bay user experience.

Be on the lookout for the upcoming recap.

Connect with Numerai

Telegram / Rocket.Chat / Twitter

Numerai

A new kind of hedge fund built by a network of data…

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