ChainCatcher report: Arthur Hayes has published the FLOP yellow paper on social media. FLOP is a blockchain and native token designed for the agent economy, utilizing Proof of Useful Inference (PoUI), enabling AI agents to pay miners for inference computations. The network employs an architecture combining PoUI with an account-based chain: agents submit session requests to the mempool containing the model weights' hash, maximum latency, computational load, confidentiality flag, and fee; miners complete the inference and return a proof, which validators include in a block by hashing the proof to finalize settlement. The genesis supply of FLOP is approximately 2.48346 billion tokens, all allocated via airdrop, with no VC pre-mine or auction. Initial reward distribution is 75% to miners, 10% to validators, 10% to agents, and 5% to general stakers. The network targets an average block time of 1 second, with a roadmap goal of sub-second block times. The initial block reward is 96 FLOP, halving every 730 days for a total of five halvings, after which it permanently stabilizes at 3 FLOP. The validator set is capped at 1,000 nodes, with approximately 50 rotating monthly based on verified work and uptime. Both miners and validators must stake FLOP; malicious behavior may result in full slashing and permanent exclusion. Governance is conducted via FLOP Improvement Proposals (FIPs), requiring approval by two-thirds of active validators in most cases.
Arthur Hayes releases the FLOP yellow paper, planning a full airdrop of 2.48 billion tokens.
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Summary
Arthur Hayes published the FLOP Yellow Paper on social media, marking a major on-chain development for the agent economy. FLOP is a Proof of Useful Inference (PoUI) blockchain where AI agents pay miners in FLOP tokens. The network operates on an account-based model, allowing agents to submit session requests to the memory pool, including model weight hashes, delays, and fees. Miners execute inference tasks and return proofs, which are validated and settled in blocks. The total supply of 2.48346 billion FLOP tokens will be fully airdropped, with no pre-mine. Reward distribution is allocated as follows: 75% to miners, 10% to validators, 10% to agents, and 5% to stakers. Block time averages one second, with a roadmap goal of achieving sub-second confirmation times. Initial block rewards of 96 FLOP will halve every 730 days over five cycles, then stabilize at 3 FLOP. Validator rotation and slashing mechanisms are enforced to ensure network security. Governance is managed through FLOP Improvement Proposals, with plans for early-stage network upgrades.
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