Umia raises $6.11M in token auction at $18M FDV

Projects looking to launch tokens also face choices about how to connect them to a project’s legal structure and treasury. Umia says it raised $6.11 million through a seven-day auction of its UMIA token, valuing the platform at an $18 million fully diluted valuation (FDV), according to The Block’s report on the auction.

The raise also puts Umia’s own token through the launch and governance system it plans to offer other projects.

The auction, which ran on Base from August 26 to September 2, sold 17.3 million UMIA tokens, or 34.6% of the total supply, Umia co-founder and CEO Francesco Mosterts told The Block. The tokens sold were liquid at launch, with no lockup. Ten funds and nearly 700 individual bidders participated, the report said; around 45% of the proceeds came from institutional investors.

How did the auction set the $18 million FDV?

The sale used Umia’s version of Uniswap’s Continuous Clearing Auction and capped the token price at $0.36, which corresponded to the $18 million FDV, The Block reported. The auction had a $2 million minimum target. Umia’s announcement distributed by PR Newswire says the public round reached its cap seven minutes after opening on August 29 and the sale closed at more than three times the minimum.

Galaxy Ventures, Digital Currency Group, Draper Associates, RenGen, Alpha EV, Maven 11 and Eon Capital were among the participating funds, according to both the announcement and The Block. The company said funds bid on the same terms as other participants, without discounts. The Block reported that no investors received board seats, observer roles or advisory positions.

What does Umia’s launch system do?

Umia’s model places a project’s intellectual property, operating team and treasury under one legal wrapper linked to its token, according to Mosterts and the company announcement. The platform combines that structure with onchain token auctions and decision markets for governance. In those markets, participants trade on proposals based on their expected impact; The Block reported that the option with the highest time-weighted average price can then execute onchain.

For Umia’s own sale, 20% of proceeds went to a protocol-owned UMIA-USDC liquidity pool on Uniswap v4, while the remainder went to the treasury, The Block reported. Smart contracts release $120,000 monthly for development costs; spending above that amount, or a change to the allowance, must go through a decision market.

When will other projects launch through Umia?

The company said its first external launches are expected in the fourth quarter of 2026, subject to onboarding and legal review. The Block reported that Umia’s curation committee had selected three projects, with Slop.cash expected to launch first. Umia said it had received more than 200 applications across areas including AI, decentralized finance, tokenized funds, real-world assets and fintech. The platform supports projects building on Ethereum Virtual Machine-compatible blockchains, according to Mosterts.

Sources

• The Block’s report on the auction — theblock.co
• announcement distributed by PR Newswire — prnewswire.co.uk