PROVE Token Unlock Set to Trigger 51.3% Supply Shock

The PROVE token, issued by Succinct's foundation, has reached its one-year vesting lock cliff. On August 5, a total of 100 million tokens are set to unlock, equivalent to 51.3% of CryptoSlate's estimated circulating supply of 195 million tokens.

According to the PROVE tokenomics terms, 10.5% of the total supply is allocated to investors and 29.5% to contributors. A quarter of each allocation unlocks after one year, with 26.25 million tokens belonging to the investor tranche and 73.75 million to contributors.

However, discrepancies exist between CoinGecko and Tokenomics.com's estimates. While CoinGecko shows 208.33 million PROVE tokens, Tokenomics.com lists 233.332 million. The public trackers differ in their recipient weights, with CoinGecko attributing 16.67 million to public allocation and incentives.

The total market capacity and potential price impact of the unlock remain unclear. At press time, Bybit showed roughly $68,422 above and $105,212 below the quoted price for PROVE/USDT. The largest visible transfer on Etherscan's official PROVE contract was around 92,998 PROVE tokens, far below the scheduled 100 million-token tranche.