The king of ZKVM? Analyzing the $55 million financing Succinct and accompanying participation tutorial

Succinct - The proof network of Decentralization.

Received two rounds of top-tier investment from Paradigm, totaling $55 million in financing.

Although the ZKVM track is fiercely competitive, with projects like Risc Zero sandwiched in front and back, Succinct has the most advanced ZKVM technology at the moment, making it the king of this track. Its goal is to make zero-knowledge proofs simple and easy to use.

Polygon, Celestia, Avail, etc. all use the infrastructure of Succinct to build ZKP. Before that, it was a well-established revenue-generating project.

The core technology of Succinct is SP1. SP1 is a high-performance, general-purpose zkVM that simplifies Zero-Knowledge Proof (ZKP) development and supports blockchain applications (such as Rollups, coprocessors, light clients). It provides maintainable code through Rust, accelerates development and deployment, and offers super-fast performance at a low cost.

Of particular note is that SP1 is the fastest zkVM, with super-fast performance on various real-world blockchain workloads, including light clients and rollups. With SP1, the cost of ZKP proof is an order of magnitude lower than other zkVMs or even circuits, making it both cost-effective and fast in practical use.

Team Overview

This year is the first year of the Jiuzi Fire Element Cycle, a year of female power eruption. Recently, more and more female CEOs have emerged in the blockchain industry.

Uma Roy: female founder, co-founder and CEO of Succinct, previously an engineer at Gantry. Master's degree in Computer Science from Massachusetts Institute of Technology.

John Guibas: Co-founder of Succinct Labs, graduated from Stanford University in the United States.

Financing Status

Seed round raised $12 million, participating institutions include Paradigm, Robot Ventures, Standard Crypto, Gnosis VC.

A round of $43 million in financing was obtained, with participating institutions including Paradigm, Robot Ventures, Standard Crypto, Bankless Ventures, Geometry, ZKValidator (ZKV), Sreeram Kannan, Sandeep Nailwal, John Adler, Daniel Lubarov, Elad Gil, Eugene Chen, Andrew Huang, Ye Zhang, Dev Ojha.

Both rounds are led by Paradigm.

How to participate now

Succinct briefly opened up the closed testnet quota. The current testnet quota needs an activation code to activate.

There are currently three ways to get the activation code for the closed test network. A total of 25000 quotas are available, with approximately 2000 quotas remaining. You can give it a try!

1. Create meaningful and passionate content about Succinct and ZK, such as writing high-quality posts, engaging in meaningful discussions, and using other creative media (art, music, memes, videos) to create works, and share them in contributions and ・memes-art-media :Succinct: to help expand our influence within your circle.

2. Interact with posts from @SuccinctLabs, @pumatheuma, @jtguibas, and the Succinct team on X

3）In the discussion of ZK proofs, scalability, and verifiable computation, mention @SuccinctLabs.

The current closed test network is relatively easy compared to other test networks, with relatively higher interest, mainly completing quizzes and mini-games. The goal is to accumulate stars, the more stars, the higher the airdrop ratio. There are even KOL predictions, one star equals 8U.

After obtaining the activation code, activate it on the website: testnet.succinct.xyz. You need to deposit 10U for the first time playing, no need to deposit again. The project party will transfer test U to the testnet address every week to let everyone accumulate stars.

The Veristar) and the quiz( on the weekly image recognition do not require U, while other games require U. The U for each week is limited, so if you want to earn more stars, it means making each U earn more stars.

• Image recognition and answering questions can find the correct answers online to ensure 22 stars.
• The verification game of V God is the simplest, but the consumption per time is relatively high, 5U at a time, with low cost performance.
• The community believes that the second lowest cost-effective is Floppy GPU ) with a total expenditure of 1-2U(.
• Other games such as 2048)0.1U/star), Turbo(0.1U/star), volleyball(0.1U/star) etc., it depends on which type of game you are better at, play the one you are good at.

The most popular choice in the community is the weekly free star project, such as image recognition (Veristar() and quiz )truthlens(, the rest of the U play Turbo is used up.