Delphi Labs COO Questions Octra’s Public Sale Valuation, Octra Co-founder Responds that Current Project Progress Can Support Valuation Increase

December 10: Delphi Labs COO Kevin Simback questioned the legitimacy of privacy chain project Octra’s public offering, which carries a $200 million valuation. He noted Octra completed a $4 million seed round over a year ago, with a valuation he estimated at no more than $40 million. Now, with valuation up over 5x, the project plans a TGE in months—but Simback claimed there’s “almost no real demand.” Octra co-founder Alex responded that he does not know Simback. He emphasized the low pre-seed valuation stemmed from the team only having a whitepaper and initial concept (a typical risk premium). Today, however, Octra has finished sandbox testing, has a complete mathematical document, open-source PoC, and launched a fully functional network stable for months—making the valuation increase reasonable. Earlier reports: Octra Labs (Octra’s parent team) will host a public token sale on Sonar, a platform launched by Jordan “Cobie” Fish, on December 18. Sonar was created by Echo, an ICO platform recently acquired by Coinbase. The week-long sale aims to raise $20 million by selling 10% of OCT’s total supply, corresponding to a fully diluted valuation (FDV) of $2 billion.