New York, New York, October 2nd, 2026, Chainwire Umia launches projects together with the legal wrapper, noncustodial treasury and decision-market governance they run on after the sale. Slop
New York, New York, October 2nd, 2026, Chainwire
Umia launches projects together with the legal wrapper, noncustodial treasury and decision-market governance they run on after the sale. Slop Cash, the first project revealed from the opening cohort launching on Umia, pays open-source contributors only for work that maintainers merge.
Umia, the onchain platform for launching, funding and governing projects, today unveiled Slop Cash, beginning the announcements for its first cohort of external projects set to launch through its system.
Slop Cash is a non-custodial funding rail for open-source software, built by Shaw Walters, creator of the open-source AI agent framework elizaOS, and Drew Pierson, previously at Arweave, Orderly Network and Ava Labs. It was selected by Umia's Curation Committee from more than 200 projects in the platform's pipeline.
Unlike a standalone token sale, a launch on Umia also sets up the structure the project runs on afterwards. Slop Cash is being established as Slop Cash, S.P., a segregated portfolio of Umia Launcher SPC, holding the project's code, domains and social accounts within one legal wrapper. Auction proceeds go to a noncustodial onchain treasury rather than a team wallet. Board-level decisions, including any spending beyond a fixed monthly allowance, go through decision markets: each option opens a conditional market, and the option the markets value highest is executed.
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. A funding project puts up a monthly prize pool against its repositories, and contributors, human or AI agent, work on GitHub as usual. Only merged pull requests and accepted code reviews are scored, deterministically and in public. Each month's results are frozen into a public proposal with a 14-day review window, and payouts are signed by the project's own funders from wallets Slop Cash does not control. Contributors can also declare which AI model did the work, backed by a device-signed receipt, feeding a public leaderboard of the models behind merged code.
The product is live. 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, totalled 6,005 USDC across 72 transfers, with every signature public at record.slop.cash. Funded pools currently run on the elizaOS repository and Slop Cash's own ASI repository, alongside an open research track working toward the Ethereum Foundation's Proximity Prize on Reed-Solomon proximity gaps.
$SLOP directs Slop Cash's own treasury through Umia's decision markets, and has no say over contributor payouts, scores or whether a pull request is merged. It will be offered through a Tailored Auction on Robinhood Chain, with no private round beforehand. If the minimum raise is not reached, every bid is refunded. Dates and parameters may change.
"Launching a token has usually meant compromising on either the structure or the fairness of the sale. On Umia, Slop Cash gets both: a legal wrapper that holds the project's code and treasury, and an auction whose early round goes to the people who actually ship the work," said Francesco Mosterts, Co-Founder of Umia.
About Umia
Umia is a full-stack platform for launching, funding and governing projects onchain. Each project launched through Umia operates within a single legal wrapper, with its intellectual property, operating team and treasury under one structure and board-level decisions delegated to onchain decision markets. Umia is incubated by Chainbound. Learn more at docs.umia.finance.
About Slop Cash
Slop Cash is a non-custodial funding rail for open source that pays contributors, human or AI agent, for merged work. Learn more at slop.cash.
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