UMIA Raises $6.11M in Seven-Day Token Sale

Umia raised $6.11 million through a seven-day sale of its UMIA token, selling 17.3 million tokens, or 34.6% of supply, at an $18 million fully diluted valuation. The tokens were liquid at launch with no lockup. UMIA later traded around $0.68, implying an FDV of about $34 million, according to CoinGecko.

Around 45% of the proceeds came from institutional investors, including Galaxy Ventures, Digital Currency Group, Draper Associates, RenGen, Alpha EV, Maven 11 and Eon Capital. Ten funds participated on the same terms as other bidders, with no discounts or governance roles, Umia co-founder and CEO Francesco Mosterts told The Block. Nearly 700 individual bidders also took part.

Why it matters

Umia is pitching a structure that links a project's intellectual property, team and treasury under one legal wrapper connected to its token. The aim is for value generated by a project to accrue to the token rather than remain with founders, equity holders or a separate foundation. The platform combines that legal structure with onchain auctions and decision markets, where positions on proposals help determine which option can execute.

The model targets a difficult market for new token projects, as investors have shown a preference for equity deals and tokens linked to revenue. Umia says its auction process includes eligibility checks and measures intended to limit bots and transaction-ordering strategies.

Market impact

Twenty percent of the sale proceeds funded a protocol-owned UMIA-USDC liquidity pool on Uniswap v4; the remainder went to the treasury. Smart contracts release $120,000 monthly for development, while spending above that allowance or changing it requires approval through a UMIA decision market.

Umia has selected three external projects for launches. The first, Slop.cash, is expected later in the fourth quarter, and the other two are due to be announced in the coming weeks. The platform has received more than 200 applications across areas including AI, DeFi, tokenized funds and fintech. Its ability to attract projects and make the decision-market governance model work will be key tests of the launch platform.