Arthur Hayes is coming out of retirement to lead Flop Labs, a new project centered on the $FLOP token designed as a native currency for AI agents. The launch will be a 100% fair launch with no presale or venture capital funding, featuring a massive airdrop in Q4 followed by a genesis block in Q1 2027. The network relies on a proof-of-useful-inference protocol where miners provide computing power in exchange for $FLOP and validators store agent memories. Hayes, who had compared the AI buildout to the 2008 subprime crisis, argues that the excess lies in the debt used to fund data centers, not in the agentic technology itself.
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