Umia
Umia is an onchain venture capital protocol. Founders Umia apply to issue tokens, raise funds through a public auction, and, while continuing to build the project, allow token holders to govern the project's treasury through a decision market.Umia Every project on the platform has its own legal entity, which holds the project's intellectual property, team, and treasury. Funds raised by the project are held in an onchain treasury contract, and the founding team cannot spend these funds at its own discretion. The team receives a monthly stipend, with the receiving address and use restrictions set at inception, and it is paid automatically for development and marketing; increasing the stipend amount is itself a decision that must be approved by the market. Funding is conducted through a customized auction, which is a configuration of Umia the Uniswap continuous liquidation auction (CCA): an onchain auction that discovers the token price within a set time window, with bids refundable. A portion of the sale allocation may be reserved for the project's own community. Participants prove their eligibility through zero-knowledge transport layer security proofs generated in the browser by the Umia extension, without revealing their identity, account, or data. A portion of the proceeds automatically provides initial liquidity for the project treasury's own Uniswap v4 liquidity pool. Any spending beyond the stipend amount, large one-time expenditures, new commitments, or compensation changes are submitted to the decision market; the decision market is an open market for pricing the impact that each option would have on the project.UMIA is the Umia protocol token, a ERC—20. Holders guide the protocol's non-custodial treasury, protocol configuration including fees, and strategic direction through the decision market, while auction participants have this influence from the first day the project launches. Holders are also responsible for curating the community track and deciding which applicant projects are approved to join.Umia is the first project launched on its own platform and operates under the same rules as every project launched afterward.
Overview
Umia is an onchain venture capital protocol. Founders Umia apply to issue tokens, raise funds through a public auction, and, while continuing to build the project, allow token holders to govern the project's treasury through a decision market.Umia Every project on the platform has its own legal entity, which holds the project's intellectual property, team, and treasury. Funds raised by the project are held in an onchain treasury contract, and the founding team cannot spend these funds at its own discretion. The team receives a monthly stipend, with the receiving address and use restrictions set at inception, and it is paid automatically for development and marketing; increasing the stipend amount is itself a decision that must be approved by the market. Funding is conducted through a customized auction, which is a configuration of Umia the Uniswap continuous liquidation auction (CCA): an onchain auction that discovers the token price within a set time window, with bids refundable. A portion of the sale allocation may be reserved for the project's own community. Participants prove their eligibility through zero-knowledge transport layer security proofs generated in the browser by the Umia extension, without revealing their identity, account, or data. A portion of the proceeds automatically provides initial liquidity for the project treasury's own Uniswap v4 liquidity pool. Any spending beyond the stipend amount, large one-time expenditures, new commitments, or compensation changes are submitted to the decision market; the decision market is an open market for pricing the impact that each option would have on the project.UMIA is the Umia protocol token, a ERC—20. Holders guide the protocol's non-custodial treasury, protocol configuration including fees, and strategic direction through the decision market, while auction participants have this influence from the first day the project launches. Holders are also responsible for curating the community track and deciding which applicant projects are approved to join.Umia is the first project launched on its own platform and operates under the same rules as every project launched afterward.