Arthur Hayes, co-founder of BitMEX and CEO of Flop Labs, has outlined a vision for the Flop Network to transform AI computing power into a tradable commodity. The proposed model involves measuring computing power for AI inference tasks and using transaction data to establish a spot price denominated in FLOP tokens.
Hayes suggests that if Flop serves as a payment network for AI agents, the FLOP-to-compute exchange rate could become a global benchmark. This liquid market would facilitate the creation of derivatives based on compute prices. According to a July 2026 report by BCG, the AI compute market is projected to grow from $360 billion in 2025 to approximately $2.3 trillion by 2030.
The announcement follows Hayes' decision to sell his altcoin holdings, citing uncertain macroeconomic and geopolitical conditions. Data from Lookonchain indicates that wallets linked to Hayes sold tokens worth approximately $22 million, including holdings in ETH, ENA, UNI, ETHFI, AERO, PENDLE, and ZAMA.
Flop Labs is currently building a network designed to enable AI agents to purchase decentralized memory and computing services. In August, the company announced plans for a significant token airdrop scheduled for the fourth quarter of 2026.
