#succinct_labs @Succinct Succinct Labs is a San Francisco–based startup building infrastructure to simplify and scale zero-knowledge proof (ZKP) technology—particularly for blockchain applications. Their goal is to make ZKPs accessible through developer-friendly tools and decentralized infrastructure.  

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Key Offerings & Developments

• SP1 (Succinct Processor 1)

A high-performance, open-source zkVM (zero-knowledge virtual machine) that lets developers write ZK proofs using familiar languages like Rust or C++. The zkVM handles all the cryptographic complexities, making it more approachable for dev marketplace-like protocol on Ethereum where developers (requesters) can submit proof jobs and independent provers compete to generate the proofs. Payments and staking are managed using the native $PROVE token.  

• $PROVE Token

An ERC-20 utility token with three main purposes:

1. Payments: Requesters pay provers with $PROVE.

2. Staking and Security: Provers and delegates stake $PROVE to ensure reliability and good behavior.

3. Governance: Token holders vote on network parameters like emissions, staking rules, and auction protocols.  March 2024, Succinct Labs raised $55 million in a seed and Series A round led by Paradigm, with contributions from Robot Ventures, Bankless Ventures, Geometry, ZK Validator, and key figures from Polygon and EigenLayer.   Some reports mention an earlier figure of $43 million, but the full Series A was confirmed at $55 million.  

• SP1 Testnet Launch

After the funding, they launched SP1’s testnet in mid-2024, offering features like STARK recursion and EVM on-chain verification for rapid, end-to-end ZK proof generation. 

• Mainnet Launch & $PROVE Listing

In August 2025, Succinct Labs launched their Prover Network on mainnet, accompanied by a 34% surge in the $PROVE token following a Bitget exchange listing.