1. Overview of Succinct Labs
Succinct, also known as the Succinct Prover Network, is a decentralized network specializing in providing accessible zero-knowledge proofs (ZKPs) services. Based on SP1 zkVM — a high-performance ZK virtual machine, allowing developers to write code in Rust to create and verify ZKPs on blockchains like Ethereum, L2s, Solana, and even mobile, web, AI, and identity systems.
Succinct has partnered with various organizations such as Polygon, Celestia, Avail, and over 35 other partners, with a total value of locked assets (TVL) exceeding $4 billion.
2. PROVE Token — Functions and Tokenomics
Tokenomics
• Ticker: PROVE (ERC-20 on Ethereum)
• Fixed supply: 1,000,000,000 PROVE
• Contract: Address: 0x6BEF…C4ad29
Utility
1. Payments
PROVE is used to pay fees to provers when performing proofs for applications such as rollups, chains, and dApps.
2. Staking & Network Security
• Provers need to stake PROVE to participate in 'proof contests' and compete in generating proofs.
• Others can delegate PROVE to provers and receive rewards from fees and early-stage incentives.
3. Governance
• Initially coordinated by the security council.
• Later, governance will gradually transition to a voting system based on PROVE staking.
PROVE is also designed to encourage provers to offer competitive pricing and ensure security and transparency for the network.
3. Hard Facts & Recent Events
• Succinct's official mainnet was launched on August 5, 2025, along with the PROVE token airdrop and the distributed prover network model.
4. PROVE Price & Market Statistics
Data updated from sources
• Current price: ~$1.46 USD/prove, slightly up from last week
• All-Time High (ATH): ~$1.56 on August 10, 2025
• Circulating supply: ~195 million PROVE (approximately 19–20% of total supply)
• Market Cap: ~$284M – $284.4M, FDV (Fully Diluted Valuation) ~$1.46B
• Trading volume: Over $700-800M in the last 24 hours