Umia Launches $UMIA On-Chain Auction, Bidding Window Now Open

The on-chain project launch and governance platform Umia has initiated the on-chain auction for its native token $UMIA, marking the first token issued through its system. The early bidding window is now live, with a public round set to take place from August 29 to September 2 on Base via umia.finance, open to everyone. Bidding will be priced in USDC and will support deposits via Privy cards. Trading will commence on Uniswap v4 with the protocol's own liquidity after the auction concludes.

The total supply of $UMIA is 50 million tokens, of which 40 million will be allocated at launch, while the remaining 10 million will serve as performance reserves. Of the 40 million, 61% will be in circulation from day one, including 17.3 million tokens sold in the auction (with no lock-up) and a portion held by the protocol; shares for supporters, service providers, and the team will vest over 36 months after a 12-month cliff.

Umia is a full-stack on-chain project launch and governance platform, with a non-custodial treasury and board decisions made through a decision market pricing mechanism. Each project launched through Umia operates as a subsidiary of a Cayman Islands isolated investment portfolio company based on the MetaLex BORG framework. Umia was incubated by Chainbound and raised $4.6 million in August 2024, led by cyber Fund.