Octra will conduct a $20 million public token sale on Sonar on December 18, with a valuation of $200 million

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

Octra announced on Tuesday that the week-long sale plan aims to sell 10% of the OCT token supply at a fully diluted valuation (FDV) of $200 million, with a target of raising $20 million. The sale will adopt a fixed price, commitment-based format, allowing any number of participants to deposit funds and receive tokens proportionally, designed to achieve maximum decentralization. Octra stated that if demand is strong, the sale allocation may increase, and any unsold tokens will be burned, with all sold tokens unlocked for distribution shortly after the sale ends.

Octra indicated that early investors hold 18% of the OCT token supply, Octra Labs holds 15%, and 67% is allocated to the community, including early users, validators, grantees, Echo participants, and ICO purchasers, with no investor holding more than 3% of the tokens. Octra co-founder Alex revealed that the $200 million valuation is double the valuation at which Octra previously raised funds on Echo. Earlier this year, Octra raised $4 million on Echo and also secured $4 million in Pre-Seed funding from investors such as Big Brain Holdings, Finality Capital Partners, Karatage, and Presto Labs.