On October 6, according to The Block, the token issuance and governance platform Umia raised $6.11 million through a seven-day auction of its UMIA tokens, achieving a fully diluted valuation of $18 million. A total of 17.3 million tokens were sold, accounting for 34.6% of the total supply, all of which are immediately tradable with no lock-up period. Ten funds participated, including Galaxy Ventures, DCG, Draper Associates, and Maven 11, along with nearly 700 individual bidders; approximately 45% of the funds came from institutions, which had the same terms as other bidders and did not receive board seats. Umia assists projects in token issuance through a unified legal framework, on-chain auctions, and decision market governance, with its first external project, Slop.cash, expected to launch later in the fourth quarter.