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Cosmos founder pushes to create new chain following governance vote

News
Cosmos founder pushes to create new chain following governance vote

Founder of the Cosmos blockchain, Jae Kwon, has announced plans to fork a new chain, called AtomOne, following a governance vote that did not align with his stance. 

The news come after the Cosmos community welcomed a proposal to trim the maximum inflation rate of ATOM, the network’s native token, from 14% to 10%. The proposal recently passed despite Kwon voting against it, as it clinched the required governance vote.

Kwon is now pushing for a split, seeking to fork the Cosmos network to create the new chain. He addressed the Cosmos community on X (formerly Twitter), emphasizing the need for a detailed discussion on the potential split. 

Kwon stressed the importance of clarity in the transition. He proposed integrating ATOM and ATMO/ATOM1, the token of the new chain, aiming to avoid a mass sell-off of the original ATOM and encourage participation from the community.

Kwon’s strategy involves forking cosmoshub4 and maintaining the current software while introducing a “more decentralized” approach through independent plan and development teams. Kwon preached inclusivity, welcoming all those who voted against the proposal to join the venture.

He further addressed the confusion within the community regarding the power dynamics of NO/NWV voters, and highlighted the fundamental principles guiding the new chain, AtomOne. 

Speaking further, he called attention to the concept of exodus, asserting that even a minority can create a superior civilization by self-organizing and making decisions based on sound logic.

Kwon dismissed the notion of majority consensus as absolute control, asserting that the minority can still play a significant role. He emphasized the inevitability of individuals and groups forging their paths based on principles and logic, paving the way for a more resilient system.

The Cosmos founder declared that those who disagree with the AtomOne vision are not welcome, urging them not to hinder the progress of the new chain. However, he reassured the community that AtomOne would not abandon the existing hub but instead work towards its improvement and clarification of its role.