ChainCatcher message, the AtomOne chain based on Cosmos Hub's proposal 848 has been launched, with the independent governance blockchain GovGen successfully initiated with the support of 50 validators. It has improved the concentration of validator voting power by removing the voting rights related to validators and delegations. AtomOne aims to prioritize security, adaptability, and inclusivity to promote the development of the Cosmos ecosystem and enhance the decentralized governance process.In terms of token economics, 96.99 million ATONE are allocated to ATOM token holders, 5.38 million ATONE are allocated to the community pool, and 5.38 million ATONE are allocated to the reserved address AtomOne Treasury DAO.

ChainCatcher news, according to The Block, Cosmos developer All in Bits will launch a new blockchain network focused on governance, GovGen, before the Cosmos Hub forks into AtomOne. The development plan for GovGen will go live at 9 AM Eastern Time on Tuesday, led by All in Bits, a company owned by Cosmos co-founder Jae Kwon. GovGen will shape the design of the upcoming AtomOne fork through a decentralized decision-making process, with the primary goal of gauging the community's views on various proposals related to the foundational charter of AtomOne.It is reported that the native token of the network, GovGen, will be distributed to ATOM holders who voted against Proposal 848 on Cosmos Hub. The GovGen token is intended solely for voting purposes in this context and is non-transferable and non-tradable. AtomOne will go live after the design is decided by GovGen holders.

ChainCatcher news, Cosmos validator node Stakecito co-founder Cryptocito (@Cryptocito) posted on social media that the Cosmos Hub fork AtomOne (or renamed GovGen) will launch its mainnet next Tuesday, February 27.It is reported that Cosmos co-founder Jae Kwon released the specific charter for the Cosmos fork AtomOne last November, including declarations, vision and mission, genesis distribution, token economics, AtomOne governance, and the AtomOne technical advisory committee, to "respond to the Cosmos community's differing views on mission, token economics, and security." ATOM1 is defined as the staking token for the minimal ICS1.5 IBC AtomOne Hub, which will always maintain 2/3 of ATOM1 staked, with 10% of ATOM1 being pre-mined for various purposes, and 80% of inflation + rewards directed towards stakers who choose validators.

ChainCatcher news, Cosmos co-founder Jae Kwon has launched the specific charter for the Cosmos fork AtomOne, including the declaration, vision and mission, genesis allocation, tokenomics, AtomOne governance, AtomOne technical advisory committee, and more, to "respond to the Cosmos community's differing views on mission, tokenomics, and security." Among them, 10% of ATOM 1 will be pre-mined for various purposes, with 80% of inflation + rewards directed towards stakers who select validators.It is reported that Jae Kwon has consistently opposed reducing ATOM's inflation, believing that ATOM should remain as a staking token that guarantees security, sustainability, and decentralization as core components. However, last week the Cosmos Hub community voted to pass the "ATOM Reduction: Set Maximum Inflation Rate to 10%" proposal.

ChainCatcher news, Cosmos founder Jae Kwon posted on social media that despite voting against the proposal "ATOM Reduction: Setting the Maximum Inflation Rate to 10%", the proposal was ultimately passed.Kwon believes that the final plan should include the integration of ATOM with ATMO/ATMO1, so that ATOM will not be sold off in large quantities leading to its total collapse, but rather allow ATOM to participate, although the README content can be improved.Kwon stated that there will be a fork of "Cosmoshub4", with the new network named "AtomOne", making it the current software, but it will be managed through its own plan and development team (more decentralized than Gaia) to transition to the minimum viable product. AIB will not be the only participant, and all those who voted against are welcome.