Octra will launch a $20 million token sale on Sonar at a $200 million valuation.

On December 10, the team behind the privacy blockchain project Octra, Octra Labs, announced it will hold a public token sale on the Sonar platform on December 18. Sonar is a token launch platform created by Jordan “Cobie” Fish, recently launched by Echo, an ICO platform acquired by a CEX. The one-week token sale aims to raise $20 million by selling 10% of the total OCT token supply, corresponding to a fully diluted valuation (FDV) of $200 million, Octra said on Tuesday. The sale will use a fixed price plus commitment-style allocation model, where any number of participants can deposit funds and receive tokens on a pro-rata basis, designed to maximize decentralization. Octra stated that if demand is strong, the sale allocation may be increased; any unsold tokens will be burned. All sold tokens will be fully unlocked and distributed shortly after the sale ends. The $200 million valuation is double Octra’s previous round valuation (which raised $4 million) held earlier this year on Echo. In addition, Octra previously completed a $4 million pre-seed round led by investors such as Big Brain Holdings, Finality Capital Partners, Karatage, and Presto Labs.

Token allocation:

• Early investors hold 18% of OCT
• Octra Labs holds 15%
• 67% is allocated to the community, including early users, validators, grants, Echo participants, and ICO purchasers

Octra stated that no single investor holds more than 3% of the tokens.