What is Succinct?

Succinct is a prover network designed to make zero-knowledge proofs more accessible, enabling developers to generate and verify proofs with tools such as the SP1 zkVM. It supports proof requests from ZK applications, rollups, and blockchains, with payments settled in PROVE. The network is built to coordinate a decentralized set of provers and proof requesters, serving use cases across blockchains, cross-chain bridges, AI agents, and other applications.

What is PROVE?

The native token of the protocol is PROVE, which operates on the Ethereum blockchain. It serves multiple purposes, including payments for proof generation, staking (with both provers and delegators able to participate), and governance of network parameters. Holders can stake PROVE to earn rewards, vote on proposals, and engage in network activities. The token has a maximum supply of 1 billion, with around 195 million currently in circulation at the time of this publication.

Risk Statement

Before trading any crypto assets it is important to understand the risks. This overview is a starting point for you to perform your own research prior to investing in a crypto asset.

No securities regulatory authority or regulator in Canada has evaluated or endorsed the Crypto Contracts or any of the crypto assets made available through the platform.

Wealthsimple has performed an assessment of whether PROVE can be supported by Wealthsimple's platform, including whether PROVE is a security and/or a derivative and is being offered in compliance with securities and derivatives laws.

We evaluated PROVE based on publicly available information, including (but not limited to):

• The creation, governance, usage and design of PROVE, including the source code, security and roadmap for growth in the developer community and, if applicable, the background of the developer(s) that first created PROVE;
• The supply, demand, maturity, utility and liquidity of PROVE;
• 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; and
• Statements made by regulators or securities regulatory authorities in Canada and other jurisdictions regarding whether PROVE, or generally about whether the type of crypto asset, is a security and/or a derivative.

Wealthsimple monitors ongoing developments related to crypto assets available on its platform for significant changes that may affect Wealthsimple's original assessment of those assets, including Wealthsimple's assessment of the application of securities and derivatives laws. Any significant changes relating to PROVE may result in changes to this Crypto Asset Statement and/or Wealthsimple's ability to support PROVE.

Like all other crypto assets, there are some general risks to investing in PROVE. These include short history risk, volatility risk, liquidity risk, demand risk, forking risk, cryptography risk, regulatory risk, concentration risk, electronic trading risk and cyber security risk. Please review the Wealthsimple Crypto Product Risk Disclosure for additional discussion of general risks associated with the crypto assets made available through the platform.

We emphasize that this Crypto Asset Statement is not exhaustive of all risks associated with trading PROVE. Investors should perform their own assessment to determine the appropriate level of risk for their personal circumstances.

Wealthsimple is offering Crypto Contracts in reliance on a prospectus exemption contained in the exemptive relief decision Re Wealthsimple Investments Inc. dated December 18, 2023 (the Decision).

The statutory rights of action for damages and rescission in section 130.1 of the Securities Act (Ontario), and, if applicable, similar statutory rights under securities legislation of other jurisdictions of Canada, do not apply in respect of this Crypto Asset Statement to the extent a Crypto Contract is distributed under the prospectus relief in the Decision.

Last Updated: October 2, 2025