Slop Cash, From elizaOS Creator Shaw Walters, Opens Public Bidding on Umia After Passing Its $400K Minimum

Umia, the onchain platform, began the public auction for Slop Cash on November 7th, 2026, after early bids exceeded the project's $400,000 minimum requirement. Created by Shaw Walters, developer of the open-source AI agent framework elizaOS, and Drew Pierson, Slop Cash is the first Cohort 1 project to enter auction on Umia. This non-custodial funding rail for open-source software allows contributors, human or AI agents, to work on GitHub as usual.

Only merged pull requests and accepted code reviews are scored, with funders signing payouts from wallets Slop Cash does not control. The project's minimum raise is a structural condition for success, with every bid being refunded if commitments fall short. The token, $SLOP, has a total supply of 100 million, with 45% offered in the auction and 2% allocated to Umia's treasury.

The Slop community path, reserved for contributors, reviewers, and maintainers, filled its $200,000 allocation within the first day. The remaining lanes serve UMIA holders through Umia Pass and whitelisted funds and angels. Francesco Mosterts, Co-Founder of Umia, announced that the auction now opens to everyone.