Octra to hold $20 million public token sale on Sonar at $200 million valuation

Octra Labs, the entity behind the privacy-focused blockchain project Octra, is scheduled to hold a public token sale on Sonar on December 18th. The sale aims to raise $20 million by offering 10% of the OCT token supply at a fully diluted valuation (FDV) of $200 million, utilizing a fixed-price, pro rata commitment-style format to maximize decentralization. This valuation doubles the $4 million raised in an earlier private round this year. Octra is building its own fully homomorphic encryption (FHE) technology, positioning itself as a standalone Layer 1 network and a co-processor for ecosystems like Ethereum and Solana, aiming to provide programmable privacy for DeFi and other sensitive data use cases. The sale occurs amid renewed industry interest in privacy technology, and Octra emphasizes that tokens sold via Sonar will remain encrypted, unlike some other privacy solutions where validators can still see data.

(Source：The Block)