Delphi Labs COO questions Octra's public fundraising valuation as too high; Octra co-founder responds that current project progress supports the increased valuation.
BlockBeats News, December 10, Delphi Labs COO Kevin Simback questioned the legitimacy of privacy chain project Octra conducting a public sale at a $200 million valuation. He stated that more than a year ago, they completed a $4 million seed round, and he estimated the valuation at that time was at most $40 million. Now, with the valuation increasing more than fivefold and a TGE planned in a few months, there is "almost no real demand."
In response, Octra co-founder Alex said he does not know Kevin Simback. He emphasized that the lower pre-seed valuation was due to the team only having a whitepaper and initial concept at that time, which is typical risk premium; now, however, the project has completed sandbox testing, possesses a complete mathematical document, open-source PoC, and has launched a fully functional network that has been running stably for several months, so the valuation increase has a reasonable basis.
According to previous reports, the team behind Octra, Octra Labs, will hold a public token sale on the Sonar platform on December 18. Sonar is a token launch platform created by Jordan "Cobie" Fish and recently acquired by an exchange, originally known as the ICO platform Echo. 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.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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