Cosmos Founder Initiates Fork of Network Following Governance Change
Jae Kwon, the founder of Cosmos (ATOM), is planning to fork the interoperable blockchain after a successful governance proposal to implement a 10% cap on ATOM inflation. The proposal, known as Proposal 848, aimed to address the belief that ATOM was overpaying for its security. It reduced inflation from around 14% to 10% and also lowered staking rewards.
However, Kwon disagreed with the proposal, which narrowly passed, leading him to propose a new fork called AtomOne. In a GitHub document published by Kwon, he explains that AtomOne aims to bridge the divide in the Cosmos community by offering an alternative governance architecture.
If Kwon follows through with the fork, there may be an airdrop of new ATOM1 tokens to members of the community. This potential fork and airdrop could resolve years of political tension within the Cosmos Hub and have a positive impact on its development.
Hot Take: A Potential Game-Changer for Cosmos
The proposed fork of Cosmos by founder Jae Kwon could have significant implications for the network. By initiating AtomOne as an alternative governance architecture, Kwon aims to address divergent views within the community and foster a more diverse ecosystem. If this fork goes ahead, it could result in the largest ATOM airdrop ever and potentially resolve years of political tension. This development could be very bullish for Cosmos Hub and drive its growth and development in the future.
By
By
By
By
By