According to CoinMeta, as reported by The Block, the token issuance and governance platform umia raised $6.11 million through a 7-day token auction. After full dilution, the valuation is $18 million. A total of 17.3 million tokens were sold, accounting for 34.6% of the total supply, with no lock-up requirements. Approximately 45% of the funds came from institutional investors, including Galaxy Ventures, Digital Currency Group, Draper Associates, Rengen, Alpha EV, Maven, umia, and Eon Capital. Nearly 700 individual bidders also participated. All investors had the same terms and did not receive seats on the board of directors or as advisors. umia plans to help projects issue tokens through a unified legal framework, on-chain auctions, and a decision-making market, and will charge a 0.5% fee for transactions on its managed DEX spot market and a 1% fee for transactions in the decision-making market.