PANews reported on December 10th that Delphi Labs COO Kevin Simback questioned the rationale behind Octra's public offering at a $200 million 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 more than five times larger, and a TGE just a few months later, there is "almost no real demand."
In response, Octra co-founder Alex stated that he did not know Kevin Simback. He emphasized that Pre-seed's low valuation was due to the team only having a white paper and initial concept at the time, representing a typical risk premium; however, the project has now completed sandbox testing, possesses complete mathematical documentation, an open-source PoC, and a fully functional network that has been running stably for several months, thus justifying the increased valuation.
