Umia Raises $6M in Token Auction, Backed by Galaxy Ventures, DCG and Draper Associates

Umia, an onchain platform for launching, funding, and governing projects, announced on October 6, 2026, that it has raised $6 million through the auction of its $UMIA token, the first token launched via its own system. The seven-day sale, which ran on the Base blockchain from August 26 to September 2, attracted ten funds and nearly 700 individual bidders, with the public round reaching its cap seven minutes after opening on August 29 and closing at more than triple its $2 million minimum.

The auction included participation from prominent venture firms such as Galaxy Ventures, DCG, Draper Associates, RenGen, Alpha EV, Maven 11, and Eon Capital, all bidding on equal terms with no discounts. Umia's platform places a project's intellectual property, operating team, and treasury into a single legal structure alongside its token, with treasury decisions made through onchain decision markets using futarchy. The company's first decision market, launched on September 17, determined how to deploy $4.77 million of treasury USDC into lending protocols on Base, with the winning strategy allocating to Aave and Steakhouse now executed. "Serious teams have never had a way to launch a token that is actually tied to the project behind it, so we put our own token through our system first," said Francesco Mosterts, Co-Founder of Umia. "The result is a framework we believe will change how projects are funded, launched and governed."

The successful raise and immediate deployment of treasury funds signal growing interest in structured, legally compliant token launches. Umia's approach addresses a common criticism in the crypto space: the disconnect between tokens and the underlying business. With the full stack now live, the first external projects are expected to launch through Umia in Q4 2026, subject to onboarding and legal review. The platform is built by the team behind Chainbound, an Ethereum research and development lab with experience working with Flashbots and the Ethereum Foundation, and is backed by notable investors who see potential in its fair auction mechanism and credible legal framework.