CoinVoice has recently learned that the team behind the privacy blockchain project Octra, Octra Labs, will hold a public token sale on the Sonar platform on December 18. Sonar is a token issuance platform launched by Jordan “Cobie” Fish, which was recently acquired by the ICO platform Echo of Coinbase. This week-long token sale plan aims to raise $20 million, selling 10% of the total OCT tokens, corresponding to a fully diluted valuation (FDV) of $200 million, Octra stated on Tuesday. The sale will adopt a fixed price + commitment-style allocation model, allowing any number of participants to deposit funds and receive tokens proportionally, designed to maximize decentralization. Octra indicated that if demand is strong, the sale allocation may increase; any unsold tokens will be burned. All sold tokens will be fully unlocked and distributed shortly after the sale ends. The $200 million valuation is double the valuation of Octra's previous round of financing on Echo earlier this year (raising $4 million). Additionally, Octra previously completed a $4 million pre-seed round financing involving investors such as Big Brain Holdings, Finality Capital Partners, Karatage, and Presto Labs. In terms of token distribution: early investors hold 18% of OCT, Octra Labs holds 15%, and 67% is allocated to the community, including early users, validators, funding, Echo participants, and ICO buyers. Octra stated that no investor holds more than 3% of the tokens. [Original link]
