Umia raises $6.1 million through UMIA token auction

Umia has raised approximately $6.1 million through a seven-day auction of its UMIA token, which took place on the Base network from August 26 to September 2. The auction involved ten funds and nearly 700 individual bidders, setting an initial fully diluted valuation of $18 million based on a total supply of 50 million tokens. Notable participants included Galaxy Ventures, Digital Currency Group, Draper Associates, RenGen, Alpha EV, Maven 11, and Eon Capital.

Umia is developing an onchain platform designed to integrate a project’s intellectual property, revenue, and treasury into a single legal structure alongside its token. The platform utilizes decision markets based on futarchy, where participants trade on the expected impact of proposed decisions rather than using traditional tokenholder voting. The highest-valued option in these markets is the one executed.

Following the auction, Umia allocated 20% of the proceeds to liquidity and the remainder to its treasury. The company has already utilized its first decision market to determine the deployment of $4.77 million in treasury USDC into lending protocols on Base. Umia expects to launch its first external projects in the fourth quarter of 2026.