Umia, an onchain platform for launching, funding and governing token-native projects, announced it has raised $6 million through the auction of its native token, $UMIA. The seven-day sale ran on Base from August 26 to September 2, 2026, and marked the first token launched through Umia's own system.
The auction attracted ten funds and nearly 700 individual bidders. Galaxy Ventures, Digital Currency Group, Draper Associates, RenGen, Alpha EV, Maven 11 and Eon Capital participated, all bidding on identical terms with no discounts, board seats or advisory positions. Institutional investors accounted for roughly 45% of the capital.
The sale had a $2 million minimum and closed at more than $6 million, exceeding 3x that threshold. A separate report placed the total at $6.11 million, with 17.3 million UMIA tokens sold out of a 49.7 million supply, or about 34.6%, giving the project an $18 million valuation. The tokens were issued in liquid form without lockups, and UMIA later traded around $0.68.
Umia places each project's intellectual property, operating team and treasury within a single legal wrapper. Treasury funds are held in a non-custodial treasury rather than a team wallet. Board-level decisions are made through futarchy-based decision markets: participants trade conditional markets for each proposal option, and the highest-valued option is executed.
Umia's first decision market went live on September 17, asking traders how to deploy $4.77 million of treasury USDC into lending protocols on Base. The winning strategy allocated to Aave and Steakhouse and has since been executed. The first external projects are expected to launch through Umia in Q4 2026, subject to onboarding and legal review.
Umia is built by the team behind Chainbound, an Ethereum research and development lab with experience designing core EVM infrastructure, including work with Flashbots and the Ethereum Foundation. Co-founder and CEO Francesco Mosterts previously worked at Point72, while co-founder and CTO Nicolas Racchi previously built DeFi protocols and Ethereum infrastructure.
