Succinct Labs is a blockchain company focused on zero-knowledge proof technology, dedicated to making it easier for developers to use zero-knowledge proof technology to build secure, transparent, and scalable cryptographic infrastructure.

• Project Background: The Succinct Prover Network developed by Succinct Labs combines Ethereum with zero-knowledge proof technology, establishing a decentralized computing market through the $PROVE token, providing trusted infrastructure for ZK applications.

• Core Technology: Launched the open-source, modular zkVM SP1, allowing developers to integrate Type-1 zkEVM rollup using standard Rust code, and also enabling the OP Succinct to upgrade any existing OP Stack chain to a Type-1 zkEVM rollup within 1 hour.

• Network Architecture: Adopts vApp architecture, separating execution from settlement. Off-chain, high-performance services handle auction processes, while on-chain settlement occurs on the Ethereum mainnet, ensuring network integrity through smart contracts, combining Web2 performance with Web3 security.

• Application Scenarios: This network supports everything from Ethereum to high-speed rollups, suitable for transactions, AI agents, and other computation-intensive applications. It currently supports over 35 protocols, including Polygon, Mantle, Celestia, and Lido, processing over 5 million proofs from 1,700 programs, protecting over $4 billion in value.

• Token Situation: The native token is $PROVE, an ERC-20 utility token based on Ethereum, with a total supply of 1 billion tokens. Its main functions include paying prover fees, securing network safety through staking, and governance, allowing holders to participate in determining network parameters, etc.

• Team Members: The co-founder and CEO is Uma Roy, who previously conducted AI research at Google Brain and holds a master's degree in computer science from MIT. The Chief Technology Officer is John Guibas, who is committed to making proof infrastructure accessible at internet scale.

• Financing Situation: In March 2024, Succinct Labs completed a $43 million Series A financing, led by Paradigm, with participation from Robot Ventures, Standard Crypto, among others, bringing the total amount raised in seed and Series A rounds to $55 million. @Succinct #SuccinctLabs $PROVE