Umia Will Launch Slop Cash on Robinhood Chain on Nov. 5

Umia will launch Slop Cash (SLOP), an open-source software funding platform, as its first project on Nov. 5, with deployment on Robinhood Chain and a token auction to follow.

Slop Cash is designed to fund and reward open-source software. The launch will mark the first project on Umia, and the project’s token is SLOP.

Pre-bidding is scheduled to open at noon ET Nov. 5 (17:00 UTC). Formal bidding starts at noon ET Nov. 7 (17:00 UTC), and the auction closes at noon ET Nov. 10 (17:00 UTC). Bids will be made in USDG.

The launch follows Umia’s earlier seven-day auction of Umia token (UMIA), which raised about $6.1 million and set an $18 million fully diluted valuation. From Aug. 26 through Sept. 2, buyers acquired about 17.3 million UMIA on Base at a $0.36 clearing price.