Octra Launches $20M Token Sale on Sonar, Valued at $200M
•Cryptocurrency
Octra Labs, the innovative force behind the privacy-centric blockchain project Octra, has unveiled plans for a $20 million public token sale via the Sonar platform. This strategic move, reported by The Block, involves offering 10% of the OCT token supply at a fully diluted valuation (FDV) of $200 million.
Key Highlights
- Token Sale Details: The event will last one week, following a fixed-price, commitment-style format reminiscent of Ethereum's 2014 ICO. This method ensures broad participation and pro rata token distribution, aiming to enhance decentralization.
- Token Allocation: All tokens sold will be immediately unlocked and distributed post-sale, with any unsold tokens set to be burned.
- Valuation Insights: The $200 million FDV is a significant increase from Octra's previous valuation during its Echo fundraising, where it secured $4 million. This comes after an additional $4 million raised in a pre-seed round supported by notable investors such as Big Brain Holdings and Finality Capital Partners.