Umia Opens On-Chain Auction for $UMIA Token on Base

Umia has opened an on-chain auction for its $UMIA token, the first token issued through its system. According to ChainCatcher, the early bidding window is now live, and the public round will run from August 29 to September 2 on Base via umia.finance for all participants.The auction is priced in USDC and supports card deposits through Privy. After the auction ends, trading will begin on Uniswap v4 using protocol-owned liquidity.$UMIA has a total supply of 50 million tokens. Of that amount, 40 million were allocated at launch and 10 million are reserved for performance incentives. Within the 40 million launch allocation, 61% is circulating from day one, including 17.3 million tokens sold in the auction with no lockup and tokens held by the protocol. Supporters, service providers, and the team will receive their allocations after a 12-month cliff, followed by 36 months of vesting.Umia describes itself as a full-stack on-chain project launch and governance platform with a non-custodial treasury and board decisions priced through a decision market. Each project launched through Umia is structured as a subsidiary of a Cayman segregated portfolio company based on the MetaLex BORG framework. The platform was incubated by Chainbound and raised $4.6 million in August 2024 in a round led by cyber Fund.