Exchange Ranking
Top Exchanges
24h Volume Ranking
Popularity Ranking
Exchange BTC Balance
Proof of Reserves
Decentralized Exchanges
Funding Rate
Funding Heatmap
Liquidation Data
Max Pain
Long/Short Ratio
Whale L/S Ratio
Binance/Okex/Huobi L/S
Bitfinex Margin L/S
ETF Tracker
Solana ETF
XRP ETF
Hong Kong ETF
Bitcoin Treasuries
Crypto Reversal
Ethereum Reserves
HyperLiquid Wallet Analysis
Hyperliquid Whale Watch
Large Transactions
On-chain Movement
Bitcoin ROI
Stablecoin Market Cap
Options Analysis
News
Articles
Economic Calendar
Features
Wallet
Contract Calculator
Security
Collections
Watchlist
FollowingUmia has completed US$6 million in financing, ushering in a new paradigm of deep binding of tokens to project entities
Most tokens lack a formal legal connection to the business entity behind them: their intellectual property, income and capital reserves are usually located in separate entities. Umia places these three under the same legal structure as tokens and manages its capital reserves through the on-chain decision-making market.
Umia (umia.finance), an on-chain platform for launch, financing and governance projects, today announced that it has completed a $6 million financing round through an auction of its $UMIA tokens. UMIA is the first token issued through the platform's own system. The seven-day sales event will be held on the Base network from August 26 to September 2, with the first two days being early rounds for vetted funds and community members verified through zkTLS. The public round opened on August 29 and reached its cap just seven minutes after opening, with final sales exceeding the minimum target of $2 million three times.
Ten funds including Galaxy Ventures, DCG, Draper Associates, RenGen, Alpha EV, Maven 11 and Eon Capital and nearly 700 individual investors participated in the auction. All participants enjoy the same terms and conditions without any discounts.
Build a substantial connection between the token and the project entity
"Serious project teams have always lacked a way to truly connect tokens to the projects behind them, so we took the lead in issuing tokens through our own system," said Francesco Mostets, co-founder of Umia. "Our goal is to create a framework that we believe will change the way projects are funded, launched and governed."
Currently, Umia itself adopts the same structure that will be used by all future projects on the platform. Its intellectual property, operations team and capital reserves are all contained in a single legal encapsulation structure. Funds raised go into non-custodial funds rather than team wallets; board-level decisions are made through the decision-making market.
These decisions are made through a "Futarchy" mechanism: each proposal opens a conditional market for each option, and participants trade the expected impact of each option. Options with the highest market valuation will be implemented.
Umia's first decision-making market went online on September 17, asking traders how to deploy a USDC fund pool of $4.77 million into lending agreements on the Base Network. Three strategies competed against the "no action" baseline, and the winning strategy was to allocate funds to Aave and Steakhouse, which was subsequently implemented.
Balancing fairness mechanisms and trustworthy structures
James Kibbie, an investor at Galaxy Ventures, commented: "On-chain capital formation often means choosing between fair mechanisms and trustworthy structures. Umia's auction mechanism combines the two: a clearing process that treats funds and individuals alike, and a legal and funding framework that gives the token a clear relationship to the project behind it."
With the full technology stack now online, it is expected that the first external projects will be launched through Umia in the fourth quarter of 2026, depending on the progress of occupancy review and legal review. The timetable is for reference only and may change.
About the development team
Umia was built by the Chainbound team, an Ethereum R & D laboratory with more than four years of experience designing core EVM infrastructure and has worked with Flashbots and the Ethereum Foundation. Co-founder and CEO Francesco Mostets previously worked at Point72, and co-founder and chief technology officer Nicolas Racchi previously built the DeFi protocol and Ethereum infrastructure. The broader team also includes experts in transactions, governance, growth and operations.
About Umia
Umia is a full-stack platform for launching, financing and governance projects on the chain. Each project launched through Umia operates under a single legal encapsulation structure, with its intellectual property, operations team and capital reserves under the same structure, and board-level decisions delegated to the on-chain decision-making market. UMIA is Umia's own token and the first token issued through the system.
