Octra Labs announces $20 million public token sale at a $200 million valuation.
Octra Labs, the association behind the privacy blockchain project Octra, announced that it will launch a public token sale on Sonar (an ICO platform founded by Echo and recently acquired by Coinbase) on December 18th. The sale aims to raise $20 million, corresponding to a fully diluted token value (FDV) of $200 million, locking 10% of the token supply. The tokens will be sold at a fixed price, with all participants receiving tokens proportionally to their investment amount; any unsold tokens will be burned. Octra Labs stated that if demand is strong, the allocation ratio may be increased. All tokens will be unlocked and distributed shortly after the sale ends, following a model similar to Ethereum's 2014 ICO. Previously, Octra raised $4 million through Echo and completed a $4 million pre-seed funding round with participation from Big Brain Holdings, Finality Capital, Karatage, and Presto Labs. Regarding token allocation, early investors hold 18%, Octra Labs holds 15%, and the remaining 67% is allocated to the community, including early users, validators, ecosystem contributors, Echo participants, and those from this public sale. No single investor holds more than 3% of the tokens. This ICO launch coincides with a resurgence of industry focus on privacy technologies, including the rise of Zcash, the progress of Ethereum's privacy roadmap, Aztec's $60 million community sale fundraising, and Zama's over $1 billion valuation funding round. Octra, founded in 2021, claims to have developed its own fully homomorphic encryption (FHE) system from scratch, enabling computation in an encrypted state, suitable for scenarios such as private DeFi, dark pools, and AI training and inference. Its network can function as a standalone L1 layer or as a privacy coprocessor for ecosystems like Ethereum and Solana. To date, the Octra network has processed over 100 million transactions, covering 1.5 million accounts, with a peak TPS of 17,000, and has not experienced any downtime. The testnet will be migrated to the mainnet soon, and programmable privacy development tools and integration capabilities with Ethereum and Solana will be launched in Q1 2026. Octra Labs is located in Zug, Switzerland, with teams in Dubai and London. The core team consists of 17 people, many of whom are developers from VK (Vkontakte) and Telegram. Funds raised through the ICO will go into the association's treasury and be used for ecosystem development after the mainnet launch.