Umia Launches First Project, Slop Cash, a Non-Custodial Funding Rail for Open-Source Software
Umia, a platform for launching, funding, and governing projects on-chain, has announced the first project to be launched through its system. Slop Cash, a non-custodial funding rail for open-source software, will be the first to use Umia's platform. Slop Cash is built by Shaw Walters, the creator of the open-source AI agent framework elizaOS, and Drew Pierson, previously at Arweave, Orderly Network, and Ava Labs.
The project was selected by Umia's Curation Committee from over 200 projects in the platform's pipeline. Unlike a traditional token sale, a launch on Umia sets up the structure the project runs on afterwards. The project's code, domains, and social accounts are held within one legal wrapper, and auction proceeds go to a non-custodial on-chain treasury rather than a team wallet.
Decision markets are used for board-level decisions, including any spending beyond a fixed monthly allowance. Funders who reward open-source activity now end up paying for volume, and agent-written code is hard to tell apart from useful work. Slop Cash scores accepted outcomes only, and contributors can declare which AI model did the work, backed by a device-signed receipt.
The product is live, and since July, Slop Cash has scored three monthly cycles covering roughly 10,000 merged pull requests and 4,700 code reviews, with 108 contributors in the elizaOS pool's August cycle alone. The first payouts, sent in September, totaled $6,005 across 72 transfers.