Terms of Service

updated 21 Feb 2017

These are the terms of service for https://numer.ai (the “Site”).

  • Your acceptance of these terms of service creates a legally binding agreement (the “Agreement”) between you (the “User”) and Numerai, LLC (“Numerai”).
  • Numerai provides this Site to host a global artificial intelligence tournament for stock market predictions (the “Tournament”).
  • Use of the Site is free.
  • Numerai reserves the right to amend this Agreement at any time, and to require acceptance of any amendment as a condition for continued use of the Site.
  • You represent and warrant that you are legally qualified to use this Site, are not breaking any applicable law, are not a Specially Designated National (SDN) or Blocked Person as defined by the US Department of Treasury, and do not work for any governments under international legal sanction.
  • You may compete in the Tournament under a personal, corporate, or invented name (your “Name”).
  • Each instance of the Tournament has a “Deadline”. A “Timer” will be displayed on the Site’s “Leaderboard” counting down to the current Deadline.
  • You may download datasets that Numerai has encrypted with structure-preserving encryption techniques (the “Data”). The form of the Data is numeric and abstract, and does not look like stock market information. You may use any instance of a “Training Dataset” to train your machine learning algorithm. You may use any instance of a “Tournament Dataset” to generate probability estimates or “Predictions”, which you may submit as a “Prediction Upload” in the required file format.
  • Numerai may analyze your Predictions on dimensions such as originality and accuracy or other data science metrics chosen at Numerai’s sole discretion. Numerai reserves the right to display your Name on the Site’s “Leaderboard”, together with your rank and competitive metrics. Numerai does not guarantee the accuracy of any rank or metric.
  • Numerai reserves the right to provide monetary prizes for submitted Predictions that it deems outstanding in performance and/or originality or other data science metrics, on terms that it may announce and change from time to time, in US dollars or bitcoin. The Leaderboard will change frequently as new predictions are uploaded by users before any instance of the Deadline, and the prospective payouts will change too.
  • You are responsible for reporting any income and paying any income taxes resulting from participation in the Tournament, under the laws of your jurisdiction. If you are a US taxpayer and have tournament winnings, you will be required to submit to Numerai a Form W-9 with your Taxpayer Identification Number, and you will receive from Numerai a Form 1099.
  • You are responsible for maintaining the accuracy of your contact information.
  • You may not transfer your User account on this Site to any third party.
  • Numerai may suspend or terminate your use of the Site at its sole discretion at any time.
  • You may terminate your User account at any time through the Contact Us section of the Site.
  • Numerai expressly disclaims any warranties, including for merchantability or fitness for any purpose. The User is solely responsible for any damage to User’s equipment, software, information, or other harms that may result through use of the Site.
  • Numerai will not be liable for any damages arising out of the User’s use of the Site.
  • The User indemnifies and holds harmless Numerai from all claims and Losses arising out of the User’s use of the Site.
  • Your acceptance of this Agreement explicitly acknowledges that Numerai has the Intellectual Property Rights to this Site, and grants you only a limited license to use the Site in accordance with the terms of this Agreement as it may be amended from time to time. This includes all user interfaces, graphics, look and feel, workflow, business model, techniques for data preparation, encryption, distribution, and submittal, and tournament procedures.
  • Any disputes arising from this Agreement shall be resolved by binding arbitration in the City of San Francisco, California, under rules of the American Arbitration Association. By entering into this Agreement, you and Numerai explicitly waive the right to a trial by jury or to participate in a class action.
  • This Agreement is the entire agreement between you and Numerai. This Agreement may only be modified in writing signed electronically by both parties.
  • If any part of this Agreement is invalid or unenforceable, the remainder of this Agreement shall remain in effect.
  • This Agreement is subject of the laws of the state of California.
  • Any notice by you to Numerai shall be by email to contact@numer.ai or through the Contact Us section of the Site.
  • Numeraire, or “NMR”, is a cryptographic token used by data scientists who participate in Numerai’s tournaments. Data scientists may be awarded NMR based on their performance in tournaments. Data scientists can then stake their NMR to enter additional tournaments. For a more complete description of NMR, please refer to the whitepaper. Please be aware of these NMR facts:
    • NMR is not a cryptocurrency. At the time of this writing, NMR (i) cannot be exchanged for goods or services, (ii) has no known uses outside Numerai’s tournaments, and (iii) cannot be traded on any known exchanges.
    • NMR is not an investment. NMR may be supported by exchanges from time to time. There is no guarantee – indeed there is no reason to believe – that any NMR traded on those exchanges will increase in value. It may – and probably will at some point – decrease in value. Numerai may or may not support NMR for any particular period of time.
    • NMR is not evidence of ownership or right to control. Controlling NMR does not grant its controller ownership or equity in Numerai. Nor does it grant any right to participate in the direction or decision-making of Numerai. Controlling NMR does not grant any right to distributions, payments, profits or any monetary reward beyond the tournaments.
    • NMR is not required for, and does not permit its controller to submit predictions. Staking NMR is not required to participate in the leaderboard and is not required to participate in some tournaments. Numerai may modify, deprecate or terminate any tournament, including any associated rewards at any time.
    • NMR transactions are not controlled by Numerai. Numerai cannot recover lost or stolen NMR, or confirm or prevent NMR transactions
    • NMR does not permit betting or advising on any stock, index or issuer. The tournaments do not permit data scientists to wager or advise on securities or markets. Data sets do not include information on any securities or markets. Payouts of NMR or bitcoin do not track the performance of any stock, index or issuer.
    • NMR can be lost in tournaments. Data Scientists may lose NMR by participating in Tournaments.
    • NMR is based on an underlying distributed ledger. Risks associated with the distributed ledger include:
      • Risk of Losing Access to NMR Due to Loss of Credentials: The loss or theft of any credentials, like private keys, could result in the loss of NMR. Best practices dictate that purchasers safely store credentials in one or more backup locations geographically separated from the working location.
      • Risks Associated with the Ethereum Protocol: NMR is currently based upon the Ethereum protocol. As such, any malfunction, unintended function or unexpected functioning of the Ethereum protocol or the smart contracts in use by NMR may cause NMR to malfunction or function in an unexpected or unintended manner. More information about the Ethereum protocol is available at Ethereum.org.
      • Risk of Unfavorable Regulatory Action in One or More Jurisdictions: Distributed ledger technologies have been the subject of scrutiny by various regulatory bodies around the world. The functioning of NMR could be impacted by one or more regulatory inquiries or actions, including but not limited to restrictions on the use or possession of digital tokens like NMR.