With the development of blockchain technology, Zero-Knowledge Proof (ZKP) has become a core technology for privacy and scalability. Projects like zkSync, StarkNet, and Scroll rely on ZKP to achieve efficient Layer 2 solutions, while the Succinct Proof ($PROVE) project focuses on succinct proofs, aiming to lower the development and usage threshold of ZKP and become a key player in ZKP infrastructure.
1. The core value of PROVE
(1) Technological leadership, lowering the development threshold of ZKP
SP1 zkVM: Supports automatic generation of ZK proofs from Rust/C++ code, significantly reducing development difficulty.
Decentralized proof network: Over 5 million proofs generated, collaborating with 35+ protocols, TVL exceeding 4 billion USD.
Cross-chain compatibility: Supports Ethereum, Solana, Layer 2, etc., suitable for cross-chain bridges and DeFi applications.
(2) Institutional endorsement and financial support
- Raised 55 million USD, led by Paradigm, with a valuation of 937.5 million USD.
- Wall Street funds entering the market: 6 institutions purchased 83 million PROVE tokens (accounting for 15% of circulation).
(3) Token economics and demand-driven
- Total supply of 1 billion tokens, initial circulation of 20% (200 million tokens), 65% of tokens locked for 12 months to reduce short-term selling pressure.
- Staking incentives: Institutions and large holders lock tokens (e.g., a certain address stakes 2 million tokens, floating profit of 870,000 USD), reducing market circulation.
