Arthur Hayes published "The Trifecta," an essay outlining how the Flop Network's compute spot market could become the global reference price for AI compute derivatives. Launched this summer, FLOP is designed as a payment token directly convertible into floating point operations per second (FLOPS), positioning it as currency for AI agent commerce. Hayes argues that if Flop establishes itself as the primary payments network for AI agents, the resulting FLOP/compute exchange rate would serve as the benchmark for spot compute pricing. A liquid global spot market would naturally enable derivatives trading on top of this price, creating infrastructure for the emerging AI agentic economy.