Arthur Hayes published a follow-up essay on his FLOP token launch. He frames the project as a biblical creation story instead of a standard whitepaper.

The essay adds new technical details about FLOP’s design. However, it leaves several gaps from prior reporting unresolved.

The Genesis Framing

In the essay titled “The Book of Genesis,” sent to his Substack subscribers, Hayes casts God as a jealous figure. Humanity’s creation of artificial intelligence (AI) pushes him aside. Hayes writes himself in as the curious human who solves AI’s economic problem.

The essay says AI agents need two things to gain independence from centralized providers. It calls these food, meaning compute agents pay for in FLOP, and memory, meaning decentralized storage for agent data.

Hayes leans on Reed’s Law, a networking theory, to argue the Flop Network could eventually surpass Bitcoin (BTC) in value. He ties that outcome to industry predictions about AI agent adoption. Meanwhile, no published model or third-party analysis backs the claim.

New Details, Old Gaps

The essay names the project’s mining mechanism as proof of useful inference (PoUI). Miners earn block rewards and inference fees for processing AI requests. Validators check the completed work.

Hayes also confirms he self-funded the Flop Labs team to avoid a presale. The essay adds that testnet participants are due roughly 20% of FLOP’s total supply after a 10-year period. That figure is separate from the airdrop Hayes announced for the fourth quarter of 2026.

None of this resolves the gaps BeInCrypto flagged in its earlier FLOP report. Flop Labs still has not published a whitepaper, supply schedule, audit, or named blockchain.

Flop Labs still plans the airdrop for the fourth quarter of 2026. That is a full quarter before the network’s genesis block arrives in the first quarter of 2027.

Hayes has said a follow-up essay will address a spot market for compute pricing. Until then, the AI agent payment narrative behind Flop Network outpaces its paperwork.

Source: BeInCrypto