Octra is preparing to launch a substantial public token sale designed to raise $20 million. This initiative will take place on the Sonar platform. The token sale will offer 10% of the OCT token supply, based on a fully diluted valuation that reaches $200 million.
What details should investors know about the token sale? The sale is structured as a fixed-price commitment style similar to the initial coin offerings that established Ethereum. This format facilitates unrestricted participation and promises a pro-rata distribution of tokens, encouraging a decentralized approach. After the sale concludes, all acquired tokens will become fully unlocked and distributed quickly. Additionally, any tokens that remain unsold will be permanently burned.
The company’s current valuation marks a notable increase as the $200 million projection is double that of its previous funding round on Echo, where it raised $4 million. Earlier in its journey, Octra Labs managed to secure an additional $4 million in a pre-seed funding round thanks to prominent backers like Big Brain Holdings, Finality Capital Partners, Karatage, and Presto Lab.