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Succinct

38 pieces · Mar 2023 to Feb 2026 · 11 flagship

Sectors

ZK28 L1/L216 Perps8 Solana6 Market structure6 Tooling4

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Coverage per year

62023

52024

212025

62026

Price and coverage

Succinct $PROVE

Calls: 2 bullish
Since first call, bullish: −81%
Since latest call, bullish: −81%
Now: $0.184

bullish thesis bearish thesis coverage, no call map, list or mentionWeekly closes in USD, log scale, as of 23 Oct 2026. Call figures turn cyan when the price moved the way the call pointed. Each marker links to its piece.

Start here · the strongest pieces on Succinct

Breakdown12 Dec 2025Bullet: Hyperliquid-grade perp infrastructure as a Solana network extensionExplains Bullet's Rust-native, ZK-proven (SP1) trading network extension with Celestia DA, plus app-specific sequencing that prioritises maker orders and cancellations to cut adverse selection and tighten spreads.Breakdown02 Oct 2025Bullet: Solana's onchain Nasdaq with 1ms latency, TL;DR of A1 articleTL;DR of A1's Bullet article: a Solana network extension with 1ms soft confirmations, Rust CLOB, maker-priority sequencing, 100x perps, integrated lending, and ZK proofs on Solana. Positioned as Solana's answer to Hyperliquid.Breakdown25 Sep 2025Bullet breakdown: Solana's trading layer and the perps paradoxBreaks down Bullet, an application-specific rollup using Solana for settlement with a Rust matching engine at about 1.2ms latency, cancel prioritization and ZK-verified sequencing. Covers cross-margin across spot, perps and lending and compares it with Hyperliquid and Solana DEXs.

Timeline · every piece, newest first

2026 6

27 Feb 2026Bullet: Solana perps via a purpose-built execution layerSolana did ~$451B in perps volume in 2025 versus Hyperliquid's ~$3T, because shared blockspace sets a latency floor. Bullet adds a native Rust runtime, FIFO sequencer, SP1 ZK proofs, Celestia DA and Solana settlement.BreakdownPerpsSolanaZK

26 Feb 2026ZK coprocessors: the missing layer between data and contractsExplains the pattern of heavy off-chain computation returning a result plus ZK proof for onchain verification, and compares Brevis and Axiom (data queries) with RISC Zero, Boundless and Succinct SP1 (general-purpose zkVMs).ExplainerZKTooling

25 Feb 2026ZK Proof Costs Are Collapsing: Here's Who Wins and Who Gets CommoditizedReport on the ZK proving stack in three layers: hardware, proving networks and applications. Proof cost fell from $2.00 in 2023 to $0.05 on ASICs; compares GPU, FPGA and ASIC bets, then the Boundless and Succinct networks.ArticleZKDePIN

12 Feb 2026Bullet mainnet: the onchain Nasdaq on SolanaExplains Bullet's network extension: a custom Rust runtime on the Sovereign SDK, Celestia DA, SP1 ZK proofs and Solana settlement, with maker-priority sequencing and dedicated blockspace. Mainnet rollout is gated by deposit caps.BreakdownPerpsSolanaZK

21 Jan 2026A1 Research 2026 outlook: tokenization, prediction markets, privacy, agentsTL;DR of A1's 2026 outlook: tokenized stocks and private equity scale, stablecoin yield wars, parlays drive prediction markets, onchain credit scoring, production privacy tech, ZK prover competition and DePIN for robotics.ThesisRWAPrivacyPrediction markets

06 Jan 2026ZK-verifiable matching for private CLOBs, with Hibachi as exampleZK proofs let an operator match orders off-chain at low latency while proving rule-following. Hibachi posts encrypted state to Celestia and proves its CLOB with SP1, keeping positions private yet verifiable.ExplainerZKPerpsPrivacy

2025 21

12 Dec 2025Bullet: Hyperliquid-grade perp infrastructure as a Solana network extensionExplains Bullet's Rust-native, ZK-proven (SP1) trading network extension with Celestia DA, plus app-specific sequencing that prioritises maker orders and cancellations to cut adverse selection and tighten spreads.BreakdownPerpsSolanaZK

25 Oct 2025Bullet: Solana ZK perp DEX appchain built on the Sovereign SDKBullet is a ZK-powered Solana network extension with a Rust matching engine (BulletCore), single FIFO sequencer, Celestia DA and SP1 proofs verified on Solana. Adds borrowing/lending, wallet and gas abstraction, and a planned BulletSVM.BreakdownPerpsSolanaZK

02 Oct 2025Bullet: Solana's onchain Nasdaq with 1ms latency, TL;DR of A1 articleTL;DR of A1's Bullet article: a Solana network extension with 1ms soft confirmations, Rust CLOB, maker-priority sequencing, 100x perps, integrated lending, and ZK proofs on Solana. Positioned as Solana's answer to Hyperliquid.BreakdownPerpsSolanaZK

25 Sep 2025Bullet breakdown: Solana's trading layer and the perps paradoxBreaks down Bullet, an application-specific rollup using Solana for settlement with a Rust matching engine at about 1.2ms latency, cancel prioritization and ZK-verified sequencing. Covers cross-margin across spot, perps and lending and compares it with Hyperliquid and Solana DEXs.BreakdownPerpsSolanaHyperliquid

31 Aug 2025Why ZK is the key to scaling blockchain computationArgues ZK decouples heavy computation from onchain verification, so chains only verify a succinct proof. Says high-performance L1s scale by raising hardware requirements, while ZK scales without that trade-off and enables AI, science and gaming workloads.ThesisZKL1/L2

01 Aug 2025Boundless bull case and FDV target: Succinct PROVE as precedentSummarizes the Boundless bull case: chain-agnostic proving market, permissionless provers paid via Proof of Verifiable Work, 40+ integrations and a strong community. Targets a $1B to $2B FDV, using Succinct's PROVE as precedent.ThesisZK

01 Aug 2025ZK season watchlist: 14 ZK infra projects heading into TGE seasonWatchlist of 14 ZK projects including Boundless, MegaETH, Succinct, Opacity and Fluent. Expects ZK mindshare on Kaito to rise further as many of them approach TGE.MapZKL1/L2

30 Jul 2025Cysic's three-pillar ZK model: hardware, proving DePIN and enterpriseCysic combines ZK hardware sales, a proving DePIN and enterprise services, and can act as a prover on both Succinct and Boundless. Bullish on the vertical integration but unsure how it holds up against focused competitors.BreakdownZKDePIN

29 Jul 2025Boundless Kaito allocation and TGE outlook: 0.25% of supply in rewardsPuts Boundless' 0.25% Kaito allocation in dollar terms ($2.5M at $1B FDV) and sketches expected TGE structure: sale, 10-20% initial unlock and 5-10% airdrop. Expects Succinct's PROVE to set a $1B-$2B FDV precedent.Market takeZKMarket structure

29 Jul 2025PROVE airdrop FDV scenarios: 1B max supply mathWith PROVE max supply at 1B, each $500M of FDV equals $0.5 per token. Expects billion-dollar valuations for ZK narrative leaders; airdrop registration closes 3 August.DataZK

28 Jul 2025The ZK endgame: Boundless vs Succinct proving markets comparedCompares Boundless' open reverse-auction proving market with Succinct's single-prover API model. Concludes the market is large enough for two or more players, with multi-prover systems and aggregation layers likely.ThesisZKTooling

27 Jul 2025Pre-TGE calendar for August 2025: MIRA, PROVE, THQ, ALLO, BLESSCalendar of expected TGEs and Kaito campaigns, with timing calls: MIRA and THQ imminent, PROVE feels imminent, ALLO early-mid August, BLESS in 3-4 weeks. Expects most launches between September and November alongside MegaETH, Monad and Anoma mainnets.Market takeAIZKMarket structure

22 Jul 2025Cysic joins Succinct's prover network: vertically integrated ZK hardwareCysic's custom ZK hardware, GPU-accelerated proving and a verifiability-optimized L1 complement Succinct's permissionless proving layer by handling production workloads.Market takeZK

21 Jul 2025Research agenda July 2025: MegaETH, CLOBs, proving markets, DeAI, privacyA list of themes under active research: MegaETH, CLOB infra, proving markets, ZK infrastructure, ML networks, AI agents and robotics, stablecoins, RWAs, programmable privacy, BTCfi and Hyperliquid.OtherZKAIHyperliquid

20 Jul 2025Expected pre-TGE launch sequence among Kaito leaderboard projectsForecasts a near-term wave of TGEs among Kaito leaderboard projects (Espresso, Theoriq, Bless, Mira, Allora, SatLayer) followed by Boundless, OpenLedger, Anoma, Succinct and others in the fall. Argues InfoFi may erode content quality but creates yapper opportunities.Market takeMarket structureAI

11 Jul 2025Why RWA tokenization hasn't scaled yet and what is unblocking itRWAs are held back by missing high-performance DeFi infra, weak oracle infra and regulatory ambiguity. All three are improving through verifiable CLOBs, modular oracles like eOracle, the Genius Act and treasury adoption, with stablecoins already the largest onchain RWA class.ThesisRWADeFiMarket structure

09 Jul 2025ZK infrastructure heading to mainnet and TGE: proving, verification, interopLists nine ZK infra projects approaching mainnet and TGE across proving markets, proof verification layers, interop, zkEVM and privacy, and points to the author's 64-project ZK landscape.MapZK

07 Jul 2025Modular infra teams worth backing: Union, Boundless, Fluent, Caldera, AnomaAfter criticizing extractive modular launches, names teams the author thinks will last because of top tier tech and genuine care for communities: Union, Boundless, Fluent, Caldera, Anoma, Succinct, with MegaETH added.Market takeL1/L2ZK

06 Jul 2025CLOB wars: why onchain orderbooks are replacing AMMs and who builds themAMMs were a forced tradeoff until real-time chains, scalable DA, ZK proving and fast oracles made orderbooks viable. Maps CLOB appchains (Hyperliquid, Bullet, Lighter, Paradex, Hibachi) and onchain CLOBs (GTE, Nitro, Monaco, Fuel, Aptos).MapPerpsDeFiHyperliquid

26 Jun 2025Infra season: major projects nearing mainnet and TGE to watchLists nine infrastructure projects approaching mainnet or TGE with one-line descriptions: intents, ZK proving marketplaces, AI data chains, shared compute, predictive intelligence, real-time EVM and rollup-as-a-service.MapL1/L2ZKAI

18 Jun 2025The Ultimate ZK Infrastructure Landscape: 64 projects across 8 verticalsMaps 64 ZK projects across zkVMs, universal proving, verification and aggregation, zkEVMs, app-specific rollups, hardware acceleration, ZK privacy and zkTLS.MapZKL1/L2Privacy

2024 5

14 Nov 2024Taiko adds RISC Zero ZK proofs to its multi-proof based rollupTaiko moves from TEE-only proofs to a multi-proof setup adding RISC Zero R0 and Succinct SP1 alongside SGX, becoming the first based ZK rollup on Ethereum. Multi-proof hedges against bugs in any single proving system.ExplainerZKL1/L2

20 Jul 2024ZK-powered Blobstream TL;DR: Celestia DA for Ethereum L2sTL;DR of his report: Blobstream relays Celestia data roots to Ethereum so L2s get cheap DA, with ZK implementations Blobstream X (Succinct) and Blobstream Zero (RISC Zero) reducing overhead.ExplainerZKL1/L2

20 Jul 2024Next-Gen DA for Ethereum L2s: ZK-Powered BlobstreamExplains how Blobstream attests Celestia data to Ethereum L2s versus data availability committees, and how ZK versions from Succinct and RISC Zero cut overhead. Blobspace starts at 8MB per block, roughly 9,000 to 30,000 ERC-20 TPS.ArticleZKL1/L2Ethereum

22 Apr 2024Interoperability guide v2: messaging, transport, bridges and proof layersUpdated interop landscape separating cross-chain messaging, transport layer, bridge, aggregation and cross-chain DEX protocols, then adding proving, proof aggregation and verification layers and shared sequencers as modular building blocks.MapL1/L2Tooling

21 Apr 2024The Ultimate Interoperability Guide: landscape of cross-chain protocolsCategorized landscape of interoperability protocols across messaging, cross-chain DEXs and AMMs, lending, liquidity aggregation, bridges, proof aggregation, proving and verification, each with a short descriptor such as Wormhole's 13/19 guardian set.MapL1/L2Tooling

2023 6

16 Oct 2023Cross-rollup composability: proof aggregation, shared sequencing and SUAVEAdds commentary to an interop overview: light-client ZK verification, validity proof aggregation layers, shared validity sequencing for atomicity, SUAVE as demand-side aggregator and shared sequencers needing stateful builders.Market takeL1/L2Market structure

10 Oct 2023ZK themes to watch: hybrid proofs, zk interop, proving services, Manta, ZK RaaSLists five zk areas he is tracking: zk fraud proofs in hybrid optimistic rollups, zk-powered interop, RISC Zero proving as a service, Manta's Solidity-native zk layer versus Aleo's new language, and ZK rollup-as-a-service.Market takeZKL1/L2

18 Sep 2023Response to Justin Bons: Ethereum scales L1 via blobs and dankshardingRebuts the claim that L2-only scaling is no scaling. Ethereum sells secure block space and shifts from B2C to B2B, rollups keep customizable execution, composability is the real concern, and L2 activity accrues fees to L1.Market takeEthereumL1/L2

03 Jul 2023Trust-minimized bridging: proof-based vs committee-based and DA layersCompares proof-based and committee-based bridges on trust minimization and generalizability. Argues proof-based bridges still trust connected chain consensus and that shared DA layers with light clients could enable true trust minimization.ThesisL1/L2Market structure

30 May 2023ZK light client bridges: Succinct Telepathy and zkBridge versus multisig bridgesSurveys the bridge spectrum from CEXs to multisig and MPC bridges, then argues light client bridges with zk state verification are the gold standard. Explains proof of consensus in Telepathy and zkBridge's header relay.ExplainerZKL1/L2DeFi

29 Mar 2023zkBridges and Succinct's Telepathy proof-of-consensus bridgeArgues zkBridges based on proof of consensus, like Succinct's Telepathy, will change bridging by replacing multisig and optimistic fraud-proof trust with zkSNARK verification of validator signatures. Includes a comparison image against other bridge designs.Market takeZKL1/L2

Often covered with

Boundless42 Celestia145 RISC Zero53 Bullet33 Sovereign Labs13 Cysic16 MegaETH46 Union36

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