In November 2023, the Cosmos Hub community current the contentious proposal 848, which reduced the utmost inflation payment of the native token ATOM to 10% from 20%. At the time, ATOM’s valid inflation payment stood at 14%.
The proposal used to be expected to drop thru. On the opposite hand, factual sooner than the closing date, there used to be a surge of votes and with some validators changing their stance, the proposal handed with 41.1% votes. A fundamental share of the voters — 38.5% — voted in opposition to it.
A day after the proposal used to be handed, Cosmos co-founder Jae Kwon, who used to be in opposition to the voting results, made up our minds to fork the Cosmos Hub to manufacture AtomOne. In a expose to decentralize the decision-making associated to the genesis of AtomOne, All in Bits, the firm flee by Kwon, is launching GovGen.
What’s GovGen?
Kwon told CryptoSlate:
weblog post explaining its opposition to the proposal, All in Bits noted that the proposal may maybe “threaten” the “foundational pillars” of Cosmos. In other words, dissenters of proposal 848, who invent a fundamental minority, think the proposal threatens the safety of the ecosystem, giving upward push to the need for a fork.
Therefore, AtomOne will no longer compete with Cosmos Hub, however will “offer a bridge to create the Cosmos Hub more steady,” in line with All in Bits (AIB).
