The onchain platform Umia raised $6.11 million through a public token auction that concluded on September 2, 2026. The sale, which lasted seven days, involved 17.3 million UMIA tokens, representing 34.6% of the initial supply. The auction set the project's fully diluted valuation at $18 million, with a clearing price of $0.36 per token.
Investors including Galaxy Ventures, DCG, Draper Associates, RenGen, Alpha EV, and Maven 11 participated in the auction alongside nearly 700 individual buyers. All tokens were liquid at the generation event with no lockup periods. Umia plans to allocate 20% of the proceeds to a protocol-owned liquidity pool to maintain market stability.
Following the auction, the market price for UMIA rose to approximately $0.68, pushing the fully diluted valuation to between $34 million and $40 million. This represents a gain of nearly 90% for initial auction participants. The platform serves as infrastructure for token launches, utilizing a shared legal framework and futarchy-based governance.
Umia was developed by the team behind Chainbound, which previously focused on integrated solutions for token-native ventures. The platform aims to streamline the fundraising and governance process for crypto projects by offering standardized legal structures and prediction markets for treasury management.
