BlockBeats News, December 10th, Delphi Labs COO Kevin Simback questioned the legitimacy of the public offering of the privacy chain project Octra at a $200 million valuation. He stated that over a year ago, they completed a $4 million seed round, and I estimate the valuation at that time was at most $40 million. Now, with the valuation increased by over 5 times, they will conduct the TGE in a few months, but there is “almost no real demand.”
In response, Octra co-founder Alex stated that he does not know Kevin Simback. He emphasized that the low Pre-seed valuation was because the team at that time only had a white paper and initial concept, which is typical of risk premium; whereas now the project has completed sandbox testing, has a complete mathematical document, open-source PoC, and has launched a fully functional network that has been stable for several months, so the valuation increase has a reasonable basis.
Previously reported, the team behind Octra, Octra Labs, will hold a public token sale on the Sonar platform on December 18th. Sonar is a token issuance platform introduced by Jordan “Cobie” Fish, created by the ICO platform Echo recently acquired by Coinbase. This one-week token sale plans to raise $20 million, selling 10% of the total OCT token supply, corresponding to a fully diluted valuation (FDV) of $2 billion.
