Arthur Hayes Releases FLOP Whitepaper, Token Airdrop Planned in Full

Arthur Hayes released the whitepaper for new project FLOP on social media. FLOP is a proof-of-useful-inference (PoUI) blockchain and native currency designed for the agent economy, where AI agents can use FLOP to pay miners for inference services. The network combines PoUI with an account-based chain architecture, where agents submit session requests to the mempool containing model weights, maximum latency, compute volume, confidentiality flags, and fees; miners complete inference and return proofs, and validators incorporate proof hashes into blocks for settlement. FLOP's genesis supply is approximately 2.48346 billion tokens, all allocated via airdrop, with no VC pre-mining or auction. Initial reward distribution allocates 75% to miners, 10% to validators, 10% to agents, and 5% to regular stakers. The network's average block time is 1 second, with a roadmap target of sub-second block times. The initial block reward is 96 FLOP, halving every 730 days for a total of five halvings, then permanently stabilizing at 3 FLOP. The validator set is capped at 1,000, with approximately 50 rotated monthly based on verified work volume and uptime. Miners and validators are required to stake FLOP, and malicious behavior may result in penalties up to full slashing and bans. Governance is conducted via FLOP improvement proposals, requiring approval from two-thirds of active validators in most cases.