#SuccincLabs @Succinct $PROVE 🌟 Why Succinct (PROVE) may become the next breakout point in the ZK track? Testing the disruptive potential of SP1 zkVM!
@Succinct #SuccinctLabs #ZKProof
#Web3 Core Insights: Succinct is addressing the high barriers to entry for ZK technology through a decentralized prover network + SP1 zkVM toolchain. Its economic model design allows
$PROVE to have a triple value loop of payment, staking, and governance.
🔍 Project Highlights Overview
1. Technical Breakthrough
◦ SP1 zkVM: A zero-knowledge proof development framework based on Rust, improving proof generation efficiency by 10 times, allowing developers to build ZK applications without needing to master cryptography.
◦ Prover Network: Ordinary people can contribute computing power to participate in proof generation (similar to a “ZK version of AWS”), already integrated with leading protocols such as Polygon and EigenLayer.
2. Economic Model Design
◦ Token Functions:
▪ ✅ Payment: The only token used for paying for ZK proof generation (e.g.,
$PROVE is paid when the Rollup chain needs to validate in batches).
▪ ✅ Staking: Provers need to stake
$PROVE to participate in task auctions, and malicious behavior will result in the forfeiture of the staked amount.
▪ ✅ Governance: Holders vote to determine network fees, inflation rates, and other parameters.
◦ Reasonable Allocation:
Total supply of 1 billion tokens, with public incentives accounting for 25% (including 5% in the first round of airdrops), 25% dedicated to ecosystem development, avoiding excessive team shares (core contributors only 29.5%).
3. Market Heat Support
◦ Two rounds of financing totaling $55 million, led by Paradigm, with participation from EigenLayer founders and others.
◦ Mainnet launch imminent (Summer 2025), testnet participants can earn points, and airdrop activities continue to attract users.
• Developers: Try out the SP1 zkVM development tools to reduce the cost of building ZK applications (open-source code repository on GitHub).
Do you think
$PROVE can break the monopoly of ZK Rollup (like zkSync)? Feel free to share your trading strategies.