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100 million PROVE tokens unlock as liquidity looks razor-thin
The unlock equals 51.3% of one estimate of circulating supply, while token trackers show diverging totals beyond the investor and contributor tranche.
Succinct’s PROVE token is set to reach the end of its first 12 month vesting lock on Aug. 5, with 100 million investor and contributor tokens scheduled to unlock under the Foundation’s terms. That amount is equal to 51.3% of CryptoSlate’s estimate of 195 million circulating tokens, and it follows allocations set at 10.5% for investors and 29.5% for contributors.
The tokenomics terms specify that a quarter of each allocation unlocks after one year, meaning 26.25 million investor tranche tokens and 73.75 million contributor tranche tokens would be released at this stage. CryptoSlate reports that the accessible official terms cover only that investor and contributor portion.
CryptoSlate also found that public token trackers show different unit totals for Aug. 5. CoinGecko displayed 208.33 million PROVE units, while Tokenomics.com showed 233.332 million, and the differences leave the cause unresolved because the official terms available cover only the investor and contributor tranche.
CryptoSlate cites liquidity snapshots that underscore the thinness of trading capacity around the unlock date, including PROVE/USDT order book depth on Binance and Bybit that totals on the order of tens of thousands of dollars within 2% above and below the quoted price, while noting that total market capacity and price impact remain unclear.