Succinct is a decentralized prover network built on Ethereum, designed to "prove the world's software" through zero-knowledge proofs (ZKPs). It enables developers to request proofs for real-world programs—ranging from blockchain rollups to AI agents—using familiar code wrapped with the SP1 zkVM. These requests are executed by a globally distributed network of hardware operators (provers) in a permissionless, market-driven environment. The network operates like a verifiable application (vApp): requests and proof generation happen off-chain through an auction-based marketplace, while state and proof settlement are anchored on-chain for full auditability.

Project Function

• Permissionless Prover Ecosystem: Anyone with suitable compute—like datacenters or optimized GPU clusters—can join as provers. They compete for proof jobs via a competitive bidding system that prioritizes price and latency.

• vApp Architecture (Off-chain Execution + On-chain Settlement): An off-chain auctioneer matches requesters with provers; smart contracts on Ethereum settle proofs and payments, ensuring transparency without custodial risk.

• SP1 zkVM (Rust-based): Developers write proofs in Rust using SP1, streamlining proof creation. The platform supports rollups, zkEVMs, coprocessors, oracles, identity solutions, AI, and more, with broad EVM integration.

• Decentralized Auction Mechanism: Proof requests are allocated via auctions, promoting cost-effective execution and incentivizing provers to optimize performance.

Token Utility

• Native Payment PROVE and Staking: PROVE is primarily used to secure the network via staking and pay for fees on the network.

About the Founders

Uma Roy (Co-Founder & CEO): Prior to co-founding Succinct in 2022, Uma Roy built her career in artificial intelligence and software engineering. She spent a year as an AI Resident at Google Brain, where she focused on natural language processing and cross-lingual learning. In 2021, Roy became the first engineer (Founding Engineer) at Gantry, a machine-learning infrastructure startup, helping develop a model monitoring platform for clients like Duolingo.

John Guibas (Co-Founder): Before founding Succinct, he was a Resident at the 0xPARC Foundation, where he worked on applied cryptography and zero-knowledge proof projects. Guibas also served as a research assistant in Stanford's DAWN Lab, focusing on machine learning and database systems, and he interned at NVIDIA, working on deep learning research (vision transformer models). His involvement in crypto tech began early – in 2022 he participated in 0xPARC's Ethereum-focused research program to explore advanced ZK-proof technology.

Risks of PROVE

Like an investment in other crypto PROVEs, there are some general risks to investing in PROVE. These include: (i) volatility risk and liquidity risk, (ii) short history risk, (iii) demand risk, (iv) forking risk, (v) code defects, (vi) regulatory risk, (vii) electronic trading risk, and (viii) cyber security risk. For additional information of these and other general risks associated with crypto PROVEs and Uphold's platform, please refer to the Risks Specific to Holding Digital PROVEs statement.

In addition to these general risks, an investment in PROVE is subject to the following specific risks:

• PROVE operates using smart contracts, which have an association with vulnerabilities and security breaches. Despite undergoing successful audits by well-regarded third-party entities, it is essential to acknowledge the existence of inherent risks.

We emphasize that this Crypto PROVE Statement is not an exhaustive description or summary of all risks associated with PROVE. Investors should conduct their own research and perform their own assessment before trading any crypto PROVE to determine the appropriate level of risk for their personal circumstances.

The PROVE community and Succinct founding team are not under any legal or regulatory obligation to disclose material information to the public regarding its activities. Holders of PROVE have no recourse to the PROVE community, Succinct founding team, or Uphold if PROVE declines in value for any reason.

Changes to applicable law may adversely affect the use, transfer, exchange, or value of any of your crypto PROVEs, and such changes may be sudden and without notice.

Uphold's Evaluation Process

Prior to listing PROVE on the Uphold Platform, Uphold performed due diligence on PROVE and determined that PROVE is unlikely to be a security or derivative under relevant securities legislation. Uphold's analysis including reviewing publicly available information on the following:

• The creation, governance, usage, and design of PROVE, including ensuring the source code is open-source, audited and peer reviewed, security, and roadmap for growth in the developer community.

• The supply, demand, maturity, utility, and liquidity of PROVE.

• Any marketing materials put forward by the PROVE social team including on, Twitter, Medium blog, LinkedIn posts, Discord and Telegram channels.

• Material technical risks associated with PROVE, including any code defects, security breaches and other threats concerning PROVE and its supporting blockchain (such as the susceptibility to hacking and impact of forking), or the practices and protocols that apply to them.

• Legal and regulatory risks associated with PROVE, including any pending, potential, or prior civil, regulatory, criminal, or enforcement action relating to the issuance, distribution, or use of PROVE.