Octra announces $20M public token sale on Sonar at $200M valuation
The privacy-focused blockchain project will sell 10% of its token supply in a one-week commitment-style sale modeled after Ethereum’s 2014 ICO.
Key Takeaways
- Octra is launching a $20 million public token sale through the Sonar platform.
- The token sale represents a 10% allocation at a $200 million company valuation.
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Octra Labs, the team behind the privacy-focused blockchain project Octra, announced a $20 million public token sale on Sonar, according to The Block. The one-week event will offer 10% of the OCT token supply at a fully diluted valuation (FDV) of $200 million.
The sale will follow a fixed-price, commitment-style format inspired by Ethereum’s 2014 ICO, allowing unlimited participation with pro rata token distribution. Octra said the format is intended to promote decentralization. All tokens sold will be fully unlocked and distributed shortly after the sale, and any unsold tokens will be burned.
The $200 million FDV is double the valuation from Octra’s earlier raise on Echo, where it secured $4 million. The company previously raised another $4 million in a pre-seed round backed by Big Brain Holdings, Finality Capital Partners, Karatage, and Presto Lab.
