Octra will hold a $20 million public token sale on Sonar on December 18th, valuing the company at $200 million.

According to ChainCatcher, The Block reports that Octra Labs, the organization behind the privacy-focused blockchain project Octra, will hold a public token sale on the Sonar by Echo platform on December 18.

Octra announced on Tuesday that it plans to sell 10% of the OCT token supply at a fully diluted value (FDV) of $200 million, aiming to raise $20 million. The sale will be a fixed-price, commitment-based offering, allowing any number of participants to deposit funds and receive tokens proportionally – a design intended to maximize decentralization. Octra stated that the offering size may increase if demand is high, unsold tokens will be burned, and all sold tokens will be unlocked and distributed shortly after the sale ends.

Octra stated that early investors hold 18% of the OCT token supply, Octra Labs holds 15%, and 67% was allocated to the community, including early users, validators, funded entities, Echo participants, and ICO purchasers. No single investor holds more than 3% of the tokens. Octra co-founder Alex revealed that this $200 million valuation is double Octra's previous valuation during its Echo funding round. Earlier this year, Octra raised $4 million on Echo and also secured $4 million in Pre-Seed funding from investors including Big Brain Holdings, Finality Capital Partners, Karatage, and Presto Labs.