Token issuance and governance platform Umia raised $6.11 million through a 7-day UMIA token auction, with a fully diluted valuation (FDV) of $18 million. A total of 17.3 million tokens were sold, accounting for 34.6% of the total supply, with no lock-up period. Approximately 45% of the funds came from institutional investors, including Galaxy Ventures, Digital Currency Group, Draper Associates, RenGen, Alpha EV, Maven 11, and Eon Capital. Nearly 700 individual bidders also participated, with all investors subject to the same conditions and no board or advisory seats granted. Umia plans to help projects issue tokens through a unified legal framework, on-chain auctions, and decision markets, while charging a 0.5% fee on spot trading from its managed DEX and a 1% fee on decision market transactions. (The Block) https://(wublock123.com)/news/umia-raises-6-11m-in-7-day-auction-fdv-18m-69558