Arthur Hayes proposes 20% FLOP testnet allocation

Arthur Hayes has proposed allocating roughly 20% of Flop Network’s FLOP token supply to testnet participants over 10 years as part of a self-funded decentralized computing network for artificial intelligence agents. Summary Testnet participants could receive roughly 20% of the FLOP supply over 10 years. Miners would earn block rewards and fees for processing AI inference requests. Hayes said he funded the development team without a presale. Flop Network would price computing work using floating-point operations rather than model-specific tokens. Arthur Hayes said in an Aug. 19 Substack article that Flop Network would connect AI agents seeking computing power with miners operating internet-connected hardware, using FLOP as the network’s payment and reward token. The BitMEX co-founder described the proposed system through a fictional creation story, but the article also provided new information about the project’s token distribution, economic model, and intended users. Hayes said the token launch would follow a fair-start model, with no presale needed because he had funded the development team himself. Under the planned distribution, people who contribute to the Flop Network testnet ...