According to The Block, Paradigm-backed Succinct has announced the launch of PROVE tokens as a native asset to its Ethereum-based Zero-Knowledge Proof (ZKP) validator network. The network aims to build a decentralized marketplace that connects proof requestors and proof generators, supporting use cases such as blockchain verification, cross-chain bridges, AI computation, and more. PROVE tokens will serve as the core of the network's payment medium and incentive security mechanism, used to pay proof generators, pledge economic mortgages, and participate in governance (such as adjusting network parameters). If the prover fails to submit the proof on time or does something evil, its staked tokens will be fined. At present, the Succinct Validator Network is in the second phase of the testnet, and Phase 2.5 is about to be launched in preparation for the launch of the mainnet. In 2024, its core development team, Succinct Labs, completed a $55 million Series A financing round, led by Paradigm.