Umia Opens Slop Cash Public Auction After $400,000 Minimum Is Met

Umia opened public bidding for Slop Cash (SLOP) on Robinhood Chain on Nov. 7 after early commitments cleared the auction’s $400,000 minimum, moving the planned token sale into its public phase.

The public round began around 10:35 a.m. ET (15:35 UTC). Early commitments reached the minimum within 12 hours, and more than 200 bidders participated across three capped access lanes.

The $200,000 allocation for the community lane filled within its first day. That lane was open to Slop Cash contributors and reviewers. The other lanes served holders of Umia token (UMIA) through Umia Pass, and whitelisted funds and angels.

The auction offers 45 million SLOP, representing 45% of the token’s 100 million supply. Its terms direct 20% of proceeds to market liquidity and the remainder to the Slop Cash treasury.

Shaw Walters, creator of elizaOS, and Drew Pierson built Slop Cash to fund open-source software work. Funders set monthly prize pools for software repositories, while the system scores merged pull requests and accepted code reviews. Funders authorize payouts from wallets Slop Cash does not control.

SLOP gives holders a role in treasury decisions through decision markets, while contributor payouts and code-merge decisions remain outside its scope. Umia had outlined the planned Slop Cash auction before the threshold was reached and public bidding opened. Bidding is scheduled to close Nov. 10.