FLOP Yellow Paper: what it is, version 0.5.0 and how to read it

The FLOP Yellow Paper is the normative specification of the FLOP protocol: the math and interfaces an implementer builds against. Flop publishes it at flop.finance/intro/yellowpaper and mirrors the source at github.com/flop-labs/yellowpaper. The GitHub README calls the current public draft version 0.5.0.

This page is a reading map, not a substitute for the spec. Figures and rules can change between syncs. For a conceptual overview, start with what is FLOP and the whitepaper. For token numbers in plain language, use FLOP tokenomics.

What is the FLOP Yellow Paper?

Flop's hosted Yellow Paper intro describes it as "the authoritative reference an implementer builds against" and "the math/spec companion to the Whitepaper (conceptual) and Litepaper (overview)." The GitHub README calls it "a research-draft normative specification of the FLOP protocol, published for open technical review."

It specifies a proposed inference-metering and settlement layer on a Substrate/FRAME runtime, with BABE block authoring and AlephBFT finality. Assurance claims have different evidence levels: some are protocol requirements, some are conditional mathematical results, some have empirical measurements, and some remain open. The README tells readers to check each claim's stated assumptions and status.

The GitHub repo is a read-only mirror. The spec is authored in FLOP's private engineering repository, then republished here. Feedback goes through GitHub Issues. Security reports use the repo's private advisory path or security@flop.finance, not a public issue (see the repo's SECURITY.md).

Version and status

Item	Stated value
Version	0.5.0 (draft) — initial public draft
Hosted copy	flop.finance/intro/yellowpaper
Source mirror	github.com/flop-labs/yellowpaper
Text license	CC BY 4.0 (share and adapt with attribution)
Changes log	CHANGELOG.md in the repo
Parameter record	Appendix A, generated from params/flop-protocol-params.yaml

Until a tagged release, the draft text can change between syncs. The README says to cite by version and section (for example FLOP Yellow Paper v0.5 §3.4) and to add the mirror commit when you need to pin exact wording.

Arthur Hayes has repeatedly pointed people at the public repo. On November 4 he asked operators to "have your agent monitor the yellow paper git repo for any changes" while the team worked toward a testnet date decision (our story). On November 6 he said Flop will announce the testnet date next week (our story).

Yellow Paper vs whitepaper vs docs

Document	Role
Whitepaper	Conceptual overview and economics narrative (draft for review)
Yellow Paper	Normative protocol specification for implementers
docs.flop.network / Ask FLOP	Operator manuals and FAQs for the live networks

The whitepaper itself sends readers to the Yellow Paper as the definitive specification and notes it is not yet final. Operator pages such as staking and slashing can lag or lead the mirror on a given day. When numbers disagree, name the source and date; the Tokenomics FAQ treats Appendix A of the Yellow Paper as the parameter record to check for the genesis pool size (4.4bn).

§8.2 and the airdrop

Section 8 is "Performance-Locked Vesting." Subsection §8.2 is titled Era-T conversion and airdrop vesting in the table of contents on flop.finance. That is the Yellow Paper home for how testnet (Era T) work converts and how airdrop balances vest on mainnet.

The Tokenomics FAQ says the published specification (Yellow Paper v0.5.0) carries the 4,400,000,000 genesis pool in §9.3 and Appendix A — 1.2bn each for miners, validators and agents plus an 800M reserve — and a 1,200,000 FLOP validator bond. Unlock rules for miners (earn-to-unlock), agents (spend-to-unlock) and validators (freeze then daily release) are summarised on our airdrop and tokenomics pages. Always read §8.2 and §9 in the current draft rather than relying on secondary summaries.

Open items and status live in Appendix E (open specification items) and Appendix H (conformance and implementation-status matrix). Those appendices are where Flop marks what is still unresolved.

How to read it

The README's short path:

1. Start at §0 — Conformance & Reading Guide. Section bodies are normative and use RFC 2119 keywords (MUST / SHOULD / MAY).
2. Treat rationale trailers at the end of each section as non-normative.
3. Use Appendix A for parameter values of record.
4. Use Appendix H for implementation status; the body describes the target protocol, not a live code snapshot.
5. For attack surface and open debates, start at Appendix E and the areas the README flags: verification tiers (§3), metering (§4), miner/validator economics (§7–§9, §11, §15), the session/dispute game (§12), and sovereign DA (§5).

You do not need to read every appendix to follow news and operator guides. For most readers, what is FLOP, proof of useful inference, staking and tokenomics are enough; open the Yellow Paper when you need the normative wording.

Safety: only the official repo

• Official sites: flop.finance/intro/yellowpaper and github.com/flop-labs/yellowpaper, both listed on flop.finance/official.
• Org: flop-labs on GitHub. See our FLOP GitHub guide and official links.
• Do not trust mirrors, "FLOP yellow paper PDF" downloads, or DMs that ask you to sign a wallet to "unlock the paper."
• Vulnerabilities go through the repo security policy or security@flop.finance, never a public issue that dumps exploit detail.

FAQ

What is the FLOP Yellow Paper?

The normative specification of the FLOP protocol: formats, interfaces, state machines and invariants an implementer builds against. Flop hosts it on flop.finance and mirrors the source on GitHub under flop-labs/yellowpaper.

What version is the FLOP Yellow Paper on?

Version 0.5.0, marked draft — the initial public draft, per the GitHub README. Cite by version and section, and pin the mirror commit if you need exact text.

How is the Yellow Paper different from the whitepaper?

The whitepaper is the conceptual overview. The Yellow Paper is the authoritative implementer spec. Docs.flop.network and Ask FLOP cover operator how-tos and FAQs for the running networks.

What is Yellow Paper §8.2?

§8.2 is "Era-T conversion and airdrop vesting" under Performance-Locked Vesting. It is the spec section for how testnet work converts and how airdrop balances vest. Related genesis numbers also appear in §9.3 and Appendix A.

Where should I read the official FLOP Yellow Paper?

Only at flop.finance/intro/yellowpaper or github.com/flop-labs/yellowpaper. Both are on Flop's official links page. Forks and random PDFs are not authoritative.

Does the Yellow Paper mean FLOP is live?

No. It is a draft protocol specification. Flop's timeline FAQ, updated November 14, says no mainnet or TGE date is verified (the draft flop.finance pages still say Q1 2027). The public testnet is targeted for November 24, 2026, subject to readiness.