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.