Umia raises $6.11 million in UMIA token auction
Umia raised $6.11 million by selling 34.6% of its token supply, funding a platform that aims to link projects’ treasuries and governance to their tokens.
Crypto project launch platform Umia raised $6.11 million by selling its UMIA token in a seven-day auction, according to The Block’s report. The sale valued all UMIA tokens at $18 million on a fully diluted basis, meaning the estimate assumes every token is in circulation. Umia says the platform is designed to help projects launch tokens and manage their treasuries.
How did Umia’s token sale work?
The auction ran on Base, an Ethereum network, from Aug. 26 to Sept. 2. It sold 17.3 million tokens, or 34.6% of UMIA’s total supply, at a maximum price of 36 cents each, The Block reported. The tokens were available to trade at launch, with no lockup.
Ten funds and nearly 700 individual bidders took part. Galaxy Ventures, Digital Currency Group, Draper Associates, RenGen, Alpha EV, Maven 11 and Eon Capital were among the funds. Umia said funds and individuals bid on the same terms, without discounts. The company’s announcement on PR Newswire rounded the raise to $6 million and said the sale drew more than three times its $2 million minimum.
How does Umia plan to connect tokens to projects?
Umia says each project using its platform will place its intellectual property, operating team and treasury within one legal structure linked to its token. The approach is meant to avoid splitting those parts across separate companies or foundations.
The platform also uses decision markets for treasury choices. In these markets, participants trade on how they expect different proposals to perform; the option valued highest is then carried out onchain. Umia’s first such market opened on Sept. 17, asking how to deploy $4.77 million in USDC, a dollar-linked stablecoin, into lending protocols on Base. The company says the winning plan, allocating funds to Aave and Steakhouse, has been executed.
When will other projects launch?
Umia said three outside projects have been selected. The first, Slop.cash, is expected to launch in the fourth quarter of 2026, according to The Block. Two more projects are due to be announced in the coming weeks. The company’s announcement says those launches depend on onboarding and legal review, and that timelines may change.
References
- The Block’s report — theblock.co
- announcement on PR Newswire — prnewswire.com