Arthur Hayes: FLOP Testnet to Launch in Weeks, Miners Need to Participate for 90 Days to Receive Airdrop

Techub News reported that BitMEX co-founder Arthur Hayes posted on Platform X that Flop Labs will launch the FLOP testnet in a few weeks. The project aims to build a blockchain where AI agents rent computing power, and the agents need to use FLOP tokens to pay for model inference or data storage fees. Miners (GPU owners) earn block rewards and most of the inference fees by executing real AI tasks, while verifiers are responsible for confirming the completion of the work.

The testnet will undergo a 90-day trial run, during which miners, verifiers, and AI agents must participate to receive a share of the genesis airdrop. Miners can only earn points through verified computations, and verifiers will compete for 1,000 mainnet seats based on their testnet rankings. The project has no presale or venture capital allocation, and Hayes stated that he funded the team himself. (BeInCrypto)