Umia, a New York City-based onchain platform for launching, funding and governing projects, has raised $6 million through the auction of its $UMIA token.

The seven-day token sale ran on the Base blockchain from August 26 to September 2. The sale attracted participation from 10 investment funds, including Galaxy Ventures, DCG, Draper Associates, RenGen, Alpha EV, Maven 11 and Eon Capital, along with nearly 700 individual bidders.

Led by CEO Francesco Mosterts, Umia provides a platform for launching and managing projects onchain. Projects launched through Umia operate under a single legal structure, with their intellectual property, teams and treasury managed within the same framework.

The platform also uses onchain decision markets for governance. Umia’s first decision market went live on September 17 and allowed traders to decide how to deploy $4.77 million in treasury USDC into lending protocols on Base. The winning strategy allocated funds to Aave and Steakhouse and has since been implemented.

Umia is incubated by Chainbound, an Ethereum research and development lab that has worked on EVM infrastructure with organizations including Flashbots and the Ethereum Foundation.

Mosterts previously worked at Point72, while co-founder and CTO Nicolas Racchi has experience building DeFi protocols and Ethereum infrastructure.