Kwon has declared his intent to fork a new network called AtomOne.
The founder recently disclosed intentions of integrating $ATOM with $ATMO/$ATOM1.
Jae Kwon, the founder of Cosmos, publicly opposed a motion passed by the Cosmos hub governing council. In retaliation, Kwon has declared his intent to fork a new network called AtomOne from the existing Cosmoshub4.
The forthcoming network will function independently, complete with its own governance plan and development staff, and will prioritize decentralization in all aspects of its operation. The governing council of Cosmos Hub adopted a proposal to lower the maximum inflation rate of Cosmos (ATOM), the native token, from 14% to 10%.
Moreover, according to reports, the authorized adjustment would reduce ATOM’s annualized stake income by around 6%. The Cosmos network is a group of linked blockchains, the primary of which is the Cosmos Hub. On the network, the ATOM token is utilized for staking, voting, and fees for transactions.
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