Arthur Hayes on September 7 released the whitepaper for FLOP, a new proof-of-inference blockchain and native token designed to let AI agents buy inference computing power on-chain and settle payments with network participants.

According to the whitepaper description, FLOP is aimed at the “agent economy,” with AI agents using the token to pay miners for inference. In the proposed system, miners run models, validators confirm the credibility of inference, and the network settles both service payments and block rewards on-chain.

The document presents FLOP as a way to turn AI inference computing power into a blockchain-based commodity that can be purchased, verified and settled natively on the network. That places the project at the intersection of crypto infrastructure and AI services, with the blockchain serving not only as a payment rail but also as part of the verification and incentive layer.

Token supply and reward distribution were also outlined. The initial FLOP supply is listed at about 2.48346 billion tokens, with all tokens allocated through airdrops and no VC pre-mining or auctions. The first reward split is set at 75% for miners, 10% for validators, 10% for agents and 5% for regular stakers.

The whitepaper says the network will target an average block time of one second. Initial block rewards are set at 96 FLOP, with halvings every 730 days for a total of five halvings before rewards stabilize at 3 FLOP. Users seeking to become miners or validators must stake FLOP, and dishonest behavior is subject to penalties. Validators are also assigned a governance role through FLOP improvement proposals.

Why It Matters

FLOP is notable because it frames AI inference as a blockchain-settled service rather than simply attaching a token to an AI narrative. If that model proves workable, it could expand the role of crypto networks in AI infrastructure beyond fundraising, governance or branding and into computational markets with native settlement and incentive coordination.

The release also adds to a growing area of crypto development focused on linking tokens to real network activity. In FLOP’s case, the central question is whether blockchain-based verification and rewards can support a functioning market between AI agents, compute providers and validators, rather than remaining a theoretical design.