Jesse Pollak: Umia Finance, Ethos Network Raise $14M Onchain on Base

Jesse Pollak, creator of Base, spotlighted on Sept. 5, 2026 that more than 14 million was raised through onchain native capital raises by umia_finance and ethos_network on base. The raises drew thousands of participants, according to Pollak, who described the efforts as "flawless" and said the capital will "fund 10x more innovation on onchain reputation and capital formation."

The announcements reinforce Base's position as a venue for novel onchain capital formation. Base is an Ethereum Layer-2 network incubated by Coinbase and built on the OP Stack. It has no native token; transactions are paid in ETH. Pollak leads Base development at Coinbase and frequently highlights ecosystem activity.

Umia Finance and Ethos Network are among the latest projects to leverage Base's infrastructure for direct, community-driven raises. Pollak framed the momentum as a validation of Base's mission, writing that this is "why we do it."

The raises come as Base continues to see strong ecosystem growth, including recent expansions into tokenized assets and increased credit market activity.