Octra’s privacy-focused blockchain is at the center of debate as Delphi Labs COO Kevin Simback questions the legitimacy of a proposed public sale pegged at a $2 billion valuation, noting the project closed a seed round of $4 million and suggesting the current price implies a substantial uplift without clear evidence of demand for a forthcoming TGE.
In response, Octra co-founder Alex stated he does not know Simback and argued the low pre-seed valuation reflected a whitepaper-only concept and a risk premium. Since then, the project has completed sandbox testing, published a formal mathematical dossier, released an open-source proof of concept, and run a stable, fully functional network for months, which he says supports a credible valuation re-rating.
Looking ahead, Octra Labs is scheduled to conduct a public token sale on the Sonar platform on December 18, aiming to raise $20 million by selling 10% of OCT for a fully diluted valuation (FDV) of $2 billion. Sonar, founded by Jordan “Cobie” Fish after Echo’s Coinbase-backed exit, adds a targeted issuance channel for the project.