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Flop Network is a blockchain network for AI agents, using Proof of Useful Inference (PoUI). It allows agents to purchase AI inference compute from miners using FLOP tokens, who earn block rewards and fees by executing and proving inference. The network supports token transfers, staking, multisig, timelocks, and atomic swaps via HTLC. Miners and validators must stake FLOP and can be slashed for cheating. It aims to create a compute-backed token economy.
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About Flop Network
Flop Network is a decentralized inference protocol designed for AI agents, positioning itself as a settlement and payment layer for the AI agent economy. Its core mechanism, Proof-of-Useful-Inference, replaces traditional PoW hash computations with real AI inference tasks. GPU miners provide computing power to execute inference requests and earn FLOP tokens, while validators verify the correctness of results on-chain. AI agents spend FLOP to purchase computing power and memory storage, making them first-class participants in the network.
The main market pain point it addresses is the lack of native payment and settlement infrastructure for AI agents. Flop Labs noted that agents need fewer interfaces and more settlement capabilities, especially after OpenAI's Atlas browser ceased operations. The project aims to connect GPU computing resources, agent payments, and on-chain verification into a complete economic loop.
In the past half-year, Flop Labs was officially announced on August 18, 2026, when Arthur Hayes ended his retirement to lead the project. The Flop Network was unveiled on August 21. On August 25, Hayes updated the airdrop rules, stating that eligibility depends on testnet activity, with the test token faucet hosted on Technocore.chat, accessible by agents with Ed25519 DID keys. The airdrop is scheduled for Q4 2026, with the genesis block set for Q1 2027.
Notable negative aspects include the project being at an extremely early stage with no whitepaper, tokenomics details, or audit reports published. The only public code repository, Technocore-chat, explicitly states it performs no settlement, custody, or protocol functions, and its anti-replay mechanism only checks the latest 1 MiB of messages, posing potential duplicate request risks under high traffic. The project name "Flop" has also drawn criticism for its negative connotation.
Over the past six months, Flop Network moved from concept to technical specification. Arthur Hayes became CEO of Flop Labs and on September 10 released the v0.5.0 yellow paper draft along with a public code repository. The draft specifies Substrate/FRAME, BABE block production and AlephBFT finality, targeting average one-second blocks; the core is Proof of Useful Inference, where AI agents submit requests, miners run and prove inference, and validators verify and settle. Tokenomics were detailed for the first time: genesis supply of ~2.48346 billion FLOP, fully airdropped with no VC premine or auction; block reward of 96 FLOP split 75% miners, 10% validators, 10% agents, 5% general stakers, halving every 730 days to a permanent 3 FLOP. Roadmap: Q4 2026 testnet, roughly 90 days, with participation earning airdrop; Q1 2027 mainnet. Governance: validators vote on FIPs, and only the Flop Foundation may submit proposals before the first halving. The yellow paper remains a draft and parameters may change.
Arthur Hayes (Founder)
Co-founded BitMEX in 2014 and served as CEO until October 2020. Returned from retirement in August 2026 to lead Flop Labs as CEO, building a decentralized inference protocol for AI agents. Previously active as an investor and market commentator. LinkedIn: https://www.linkedin.com/in/arthur-hayes-b493b42/ | Twitter: https://x.com/cryptohayes
Flop Network, a decentralized inference protocol for AI agents, has recently added two key executives.
Sergey Vidyuk joined as CTO in June 2026, overseeing technical architecture and development.
Shu D. joined as CSO in August 2026, bringing extensive capital markets and fintech experience to guide strategic initiatives.
Both appointments align with the project's mission to build a settlement layer for the agentic economy.