Delphi Labs COO questioned the high valuation of Octra's public offering, to which Octra co-founders responded that current project progress supports ...

On December 10th, Kevin Simback, COO of Delphi Labs, published an article questioning the rationale for the privacy blockchain project Octra to conduct a public offering at a valuation of $200 million. He stated that over a year ago, they completed a $4 million seed round of financing, and he estimated that the valuation at that time was at most $40 million. Now, the valuation has increased by more than five times, and a few months later, they are conducting a TGE (Treaty-Free Group) with "almost no real demand."

In response, Octra co-founder Alex stated that he did not know Kevin Simback. He emphasized that Pre-seed's low valuation was due to the team only having a white paper and initial concept at the time, representing a typical risk premium; however, the project has now completed sandbox testing, possesses complete mathematical documentation, an open-source PoC, and a fully functional network that has been running stably for several months, thus justifying the increased valuation.

As previously reported, Octra Labs, the team behind Octra, will hold a public token sale on the Sonar platform on December 18th. Sonar is a token issuance platform launched by Echo, the ICO platform recently acquired by Coinbase and founded by Jordan "Cobie" Fish. This week-long token sale aims to raise $20 million, selling 10% of the total OCT token supply, corresponding to a fully diluted valuation (FDV) of $200 million.