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Umia raises $6.11 million in UMIA token auction

Umia raised $6.11 million in a seven-day UMIA auction at an $18 million FDV, funding a platform that links project treasuries and governance to tokens.

BitCurrent Newsroom2 min read

Umia raises $6.11 million in UMIA token auction

Crypto projects often launch tokens before defining how those tokens connect to the project behind them. Umia says its platform is designed to link them, and it raised $6.11 million by auctioning its own UMIA token, according to The Block’s report.

  • FDV at the auction’s $0.36 cap: $18 million.
  • Tokens sold: 17.3 million, or 34.6% of supply.
  • Auction period: Aug. 26 to Sept. 2 on Base.
  • Participants: 10 funds and nearly 700 individual bidders.

How did Umia raise the money?

Umia sold UMIA through a seven-day onchain auction, with funds and individuals bidding on the same terms, the company said in its funding announcement. The auction offered 34.6% of the token supply and closed at the $0.36 price cap, valuing all 50 million tokens at $18 million on a fully diluted basis.

Galaxy Ventures, Digital Currency Group, Draper Associates, RenGen, Alpha EV, Maven 11 and Eon Capital were among the participating funds. The Block reported that around 45% of the proceeds came from institutional investors.

What does the platform offer token projects?

Umia says each project will place its intellectual property, operating team and treasury under one legal wrapper linked to its token. It also uses onchain auctions to raise funds and decision markets to direct treasury decisions.

For UMIA, 20% of auction proceeds went toward a protocol-owned liquidity pool on Uniswap v4, while the remainder went to the treasury. Smart contracts release $120,000 per month for development; spending above that allowance requires approval through a decision market.

When will other projects launch through Umia?

The first external projects are expected in the fourth quarter of 2026, according to the company, subject to onboarding and legal review. The timing is indicative and may change.

The auction confirms that Umia raised capital through its own token and placed funds in its treasury and liquidity pool. Whether other projects adopt the structure, and how its governance model works in practice, remains open.

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