BlockBeats News, September 7 - Arthur Hayes released the yellowpaper for his new project FLOP on social media. According to the introduction, FLOP is a proof-of-useful-work blockchain and native currency designed for the agent economy. Agents use FLOP to pay miners for inference costs, thereby directly converting currency into computing power and intelligence.

In simple terms, FLOP aims to turn AI inference computing power into an on-chain commodity that can be purchased, verified, and settled. AI Agents pay for inference requests with FLOP; miners run the models; validators confirm that "this inference is roughly credible and the workload is reasonable," then settle rewards and block rewards.

Regarding token supply, FLOP's genesis supply is approximately 2.48346 billion tokens, all allocated via airdrop, with no VC pre-mining or auctions. The initial reward distribution allocates 75% to miners, 10% to validators, 10% to Agents, and 5% to regular stakers.

It is reported that the network has an average block time of one second, with an initial block reward of 96 FLOP, halving every 730 days for a total of five halvings—from 96 to 48 to 24 to 12 to 6 to 3—and then permanently maintaining a reward of 3 FLOP.

Becoming a miner or validator requires staking FLOP tokens, and dishonest staking behavior will be penalized. Validators serve as guardians of the network and manage it through FLOP improvement proposals.