Posted 11/27/2023, 11:12:12 AM
Cosmos community votes to reduce inflation, founder proposes contentious hard fork to new network
- Cosmos community passed vote to reduce ATOM token inflation from 14% to 10%
- ATOM founder Jae Kwon unhappy with vote outcome, calls for coordinate hard fork to new AtomOne network
- Proposed AtomOne fork would have new ATOM1 token with 20% inflation rate
- 10% of ATOM1 supply premined for "various purposes", remainder airdropped based on past opposition to inflation reduction
- Fork would use existing Cosmos architecture but altered governance requiring 2/3 majority for proposals