Delphi Labs COO Questions Octra's Public Sale Valuation, Octra Co-founder Responds Stating That the Current Project Progress Can Support the Valuation Increase

BlockBeats News, December 10th, Delphi Labs COO Kevin Simback questioned the legitimacy of the public sale of the privacy-focused blockchain project Octra at a $2 billion valuation. He stated that over a year ago, they completed a $4 million seed round, and he estimated the valuation at that time to be at most $40 million. Now, with the valuation multiplied by over 5 times, they are planning for a Token Generation Event (TGE) in a few months with "almost no real demand."

In response, Octra co-founder Alex stated that he does not know Kevin Simback. He emphasized that the low pre-seed valuation was because the team only had a whitepaper and the initial concept at that time, which was a typical risk premium. Now, the project has completed sandbox testing, has a full mathematical document, an open-source Proof of Concept (PoC), and has launched a fully functional network that has been stable for several months, hence the valuation increase has a reasonable foundation.

Previously reported, the team behind Octra, Octra Labs, will hold a public token sale on the Sonar platform on December 18th. Sonar is a token issuance platform launched by Jordan "Cobie" Fish, from the recent ICO platform Echo, which was acquired by Coinbase. This one-week token sale aims to raise $20 million, selling 10% of the total OCT token supply, corresponding to a fully diluted valuation (FDV) of $2 billion.