BitMEX Co-Founder Warns of Fake FLOP Tokens, Real Launch Months Away

Arthur Hayes, co-founder of BitMEX, has clarified that Flop Labs has not issued any tokens yet. He warned that any token trading under the FLOP name is not genuine and advised investors to be cautious.

In a series of posts on his X account, Hayes stated that Flop Labs will issue a native currency for autonomous software to spend on computing power, inference, and memory storage. The token, FLOP, will provide a payment system in the 'agentic economy,' according to Hayes.

Hayes also announced that the launch of FLOP will be a '100% fair' process with no pre-sale or venture-capital allocation. However, the team has yet to publish a whitepaper, tokenomics schedule, contract address, blockchain choice, test network, or any other relevant information.

Hayes said that the airdrop is still months away and will be announced personally by him once it begins. He also mentioned that the mainnet for FLOP will go live next year.