PROVE
Succinct · ZK prover network
Key facts
- Circulating 195.0M, 20%
- Locked or unvested 805.0M, 81%
- Max 1.00B
Market data: CoinGecko, Oct 24, 2026. Scores reviewed Oct 23, 2026.
Assessment
Succinct has no material engine yet: prover fees paid in PROVE run ~$0.6M a year on Dune, with no buyback or fee switch and no published breakdown separating paying demand from Foundation incentives. Supply is fixed at 1B, since ownership of the mint was renounced to the zero address. Float is only ~20-30%, with 50M tranches due Feb 5 and Aug 5, 2027 and the 50% Foundation and ecosystem share on no schedule. Insiders and the Foundation control nearly all supply, with no public sale, and Succinct operates and can upgrade the auction and settlement contracts. Its standing turns on prover revenue coming from paying demand rather than incentives.
How value reaches holders
Fixed 1B supply; native staker revenue-share (a fraction of prover fees plus Succinct Foundation incentives via the iPROVE vault, ~23M staked); no buyback, no fee switch. Network fees ~$0.6M/yr annualized on Dune (Oct 19, 2026), with no fee breakdown published since Oct 2025. First cliff (100M, investors and contributors) passed Aug 5, 2026; 50M every 6 months from Feb 5, 2027 to Aug 2029; the other 50% of supply has no published schedule
Score anatomy
Demand
12 / 45: the stronger of two routes, plus adoptionWhy would anyone hold it: does value reach the token, and is the network or product used today?
De minimis: revenue scores 0, so routing is capped at 1
Approved or designed but inert, indirect sinks only, or flows into a treasury or endowmentHow this is scored
Under $0.5M/yr, or emissions-subsidized only
Prover fees on the Succinct network are paid in PROVE (~$0.6M/yr on Dune), a fee role only.
Pays its own network's fees (gas never counts higher, whatever the size of the economy)medium confidenceHow this is scored
Succinct network fees ~$0.6M a year (Dune) with demand still subsidy-driven; one of several provers in a fast-commoditizing market
Niche: real but small use, far behind its category leaderslow confidenceHow this is scored
Two routes, the stronger counts
Soundness
18 / 40Can a long-term holder trust the rules: supply, float, distribution and control?
Fixed 1B: the token's owner-only mint() is dead because ownership was renounced to the zero address (read Oct 23, 2026).
Hard cap or net deflationary by protocol rule, under 1%/yr gross growth, and nobody can mint past the cap or change the schedule short of a hard fork node operators adopthigh confidenceHow this is scored
Float ~20-30% (195M by trackers, ~295M after the Aug 2026 cliff); 50M tranches Feb 5 and Aug 5, 2027, and the 50% foundation and ecosystem share has no schedule.
Over 3% of float unlocking per month, or under 30% float with ongoing linear unlocksmedium confidenceHow this is scored
Investors 10.5%, contributors 29.5%, Foundation 10%, ecosystem R&D 25% and public incentives 25% Foundation-directed: insiders and Foundation control ~100%; no public sale
Insiders received over 50%, or one organization directs over 30% todayhigh confidenceHow this is scored
The PROVE ERC-20 has no owner, but the prover network's auction and settlement contracts are operated and upgradeable by Succinct with no binding holder vote
A halt, rollback or exploited consensus bug in the last 24 months, attack cost under $10M, or a foundation-selected validator set or small multisig can halt or upgrade with no meaningful exit windowlow confidenceHow this is scored
Durability
3 / 15Is it big, proven and reachable by institutions?
$36.3M market cap (band 1), $5.0M/day median volume (band 2), no flags.
Marginal: $10-50M market cap and $250K/day+How this is scored
TGE Aug 5, 2025: 1.2 years old.
1-3 yearshigh confidenceHow this is scored
Spot on Binance, Coinbase, Kraken, OKX, Bybit and Upbit; no ETP or US filing found.
Top-tier exchanges only, or delisting pressuremedium confidenceHow this is scored
What would move it up
To reach T3 Mixed, 2 gates are still open:
- Score 33needs 40(open)
- Value engine 1needs 2(open)
- Adoption 2gate 2(met)
- Supply 5gate 1(met)
Tier outlook · next trigger Feb 5, 2027
Stable
- Revenue rises off 0 only with paying prover demand; no fee breakdown against Foundation incentives since Oct 2025
- Revenue: OP Mainnet and Base Azul proofs going live on the Succinct network rather than in-house SP1
- Float absorbs 50M PROVE tranches on Feb 5 and Aug 5, 2027
- Scale rises to 2 if market cap clears $50M ($36.3M on Oct 23, 2026)
- Security rises to 2 if auction and settlement upgrades move behind a timelock or holder vote
Research report
Sep 17, 2026 · source confidence 80%Of the three small-cap Ethereum infrastructure tokens studied at near-identical market caps in September 2026, Succinct has the cleanest remaining supply structure: a fixed one billion cap, a first-year cliff already absorbed (the all-time low printed nine days after it), and roughly 50M tokens every six months from February 2027, against daily trading volume that roughly equals market cap. The open questions are disclosure rather than mechanism: no network fee figures have been published since October 2025, circulating-supply trackers were not updated after the August cliff, and half the supply (foundation, ecosystem, public incentives) has no published schedule. Competitively, SP1 remains a top-tier zkVM with Optimism, Base and Mantle relationships, but proving costs have collapsed to well under a cent per block and the Ethereum Foundation leaderboard currently lists other provers as real-time eligible. Watch for a fee disclosure, OP Mainnet or Base proofs going live on the network rather than in-house, and the February 5 2027 tranche.
Structure (13 facts)
- Chain
- ethereum
- What it is
- horizontal ZK infrastructure: SP1 zkVM (Hypercube) + decentralized Prover Network (reverse auction, requesters pay provers in PROVE, PoS staking)
- Mainnet
- Prover Network live 2025-08-05
- Max supply
- 1,000,000,000
- Circulating supply (approx)
- 195,000,000
- Market cap (approx)
- $38,300,000
- Allocation
- Contributors: 29.5%
- Ecosystem rnd: 25%
- Public incentives: 25%
- Foundation: 10%
- Investors: 10.5%
- Unlocks
- Investors + contributors: 12-month cliff (25% = 100M official, unlocked 2026-08-05), then 12.5% every 6 months: 50M on Feb 5 2027, Aug 5 2027, Feb 5 2028, Aug 5 2028, to Aug 2029. Foundation/ecosystem/public (50% of supply) have NO published schedule. Trackers still show 195M circulating post-cliff (not updated); tracker cliff figures of 203-233M include modelled ecosystem tranches
- Value accrual
- fee-metered: requesters pay provers in PROVE, protocol fee, staking (iPROVE vault ~23.4M staked). No buyback, no fee switch. Staker yield = fraction of prover fees plus Foundation incentives; last public fee figure ~$260K cumulative (Oct 2025), no disclosure since
- Traction
- 6.3M proofs, 31 provers, "$3B+ secured" (landing page). Optimism named Succinct first preferred ZK provider (Feb 12 2026, OP Mainnet not confirmed live); Base Azul multi-proof via SP1 (May 2026); Mantle, Celo, Katana, Celestia Blobstream, Polygon AggLayer; Google Quantum AI used SP1 (Mar 2026). Paid-network vs in-house SP1 usage undisclosed
- Competition
- ethproofs.org Phase 0.2: only ZisK and Axiom/OpenVM eligible real-time provers; Succinct listed 0% eligible. Block-proof cost ~$0.005 (Sept 2026). EF roadmap: execution proofs optional in 2027 fork, mandatory 2028+, multi-zkVM and anyone-can-prove (does not route through PROVE). Peer Boundless ZKC ~$11-21M mcap
- Liquidity
- ~$38-40M/day; Binance PROVE/USDT ~$13M with 0.05% spread; 12+ CEX listings. Deepest book of the small-cap ZK set
- Backers
- Paradigm-led $55M Series A (Mar 2024), $66M total; ~26 staff (Tracxn, Jul 2026)
Market figures at report date (Sep 17, 2026)
- Price (approx)
- $0.197
- FDV (approx)
- $196,000,000
- All-time high / low
- 1.71 (2025-08-11); ATL 0.143 (2026-08-14, nine days after the first cliff)
Sources (8)
Compare with
How the ranking works and how PROVE compares: see the full ranking. This entry as JSON:
GET https://tokens.10102.io/api/v1/tokenomics?symbol=PROVE