Cointime

Cointime

Download App
iOS & Android
Home / Point

Cosmos founder initiated AtomOne network fork due to opposition to ATOM production reduction proposal

On November 27th, Cosmos founder Jae Kwon posted that although he voted against the proposal to reduce ATOM production and set the maximum inflation rate to 10%, the proposal still passed. Kwon believes that the final plan should include integrating ATOM with ATMO/ATMO1 so that ATOM will not be sold in large quantities and crash, but instead will be allowed to participate while the README content can be improved. Kwon stated that "Cosmoshub4" will fork and the new network will be called AtomOne, making it the current software, but it will transition to the minimum final product through its own plan and development team (more decentralized than Gaia). AIB will not be the only participant.

Previously, the Cosmos Hub community voted in favor of the "ATOM production reduction: setting the maximum inflation rate to 10%" proposal with a support rate of 41.1% and an opposition rate of 31.9%. The maximum inflation parameter for ATOM will be reduced from 20% to 10%, reducing the current inflation rate of ATOM to 10%, and reducing the stake annual interest rate from 19% to 13.4%.

cosmos
Comments

All Comments

Recommended for you

  • Cointime's Evening Highlights for May 24th

    1. CryptoPunks Launches “Super Punk World” Digital Avatar Series

  • Pudgy Penguins and Lotte strategically cooperate to expand into the Korean market, and the floor price rose by 3.1% on the 7th

    The NFT series "Pudgy Penguins" has recently announced a strategic partnership with South Korean retail and entertainment giant Lotte Group on the X platform to expand its market in South Korea and surrounding areas. More information will be announced in the future. According to CoinGecko data, the floor price of Pudgy Penguins is currently 11.8 ETH, with a 7-day increase of 3.1%.

  • CryptoPunks Launches “Super Punk World” Digital Avatar Series

    Blue-chip NFT project CryptoPunks announced the launch of "Super Punk World" on X platform, which is the project's first release of 500 digital avatars inspired by the iconic CryptoPunks features and combined with Super Cool World attributes. It is reported that the series may launch auctions in the future, and more details about the collection and auction of this series will be announced soon.

  • Drift Foundation: The governance mechanism is gradually being improved, and DRIFT is one of the components

    The Drift Foundation stated on the X platform that the DRIFT token is a component of governance and a key element in empowering the community to shape the future. The governance mechanism is gradually improving, and more information will be announced soon.

  • U.S. senators propose spending $32 billion to develop AI and build safeguards around it

    A bipartisan group of four senators led by Chuck Schumer, the leader of the majority party in the United States, has proposed that Congress spend at least $32 billion over the next three years to develop artificial intelligence (AI) and establish safeguards around it.

  • CryptoQuant: Bitcoin demand is now in acceleration mode again after two months of decline

    On May 16th, cryptocurrency analysis company CryptoQuant stated in a report that despite a rebound in Bitcoin demand from the low point of the accumulation range, after two months of downward trend, Bitcoin demand is once again in "acceleration mode".

  • Fed's Schmid: Low interest rate environment "may not necessarily" return

    The Federal Reserve's Schmid said that the overall economy is still strong. Inflation is still too high, and the Federal Reserve has more work to do. Interest rates may remain high for a period of time, and I prefer to reduce the Federal Reserve's balance sheet as much as possible under the premise of compliance with the operating framework. The low interest rate environment may "not necessarily" return.

  • a16z partner: Americans have accepted digital assets, but current regulatory approaches limit innovation and privacy

    Web3 supporter and a16z partner Chris Dixon (cdixon.eth) posted on social media that in the next two weeks, the House of Representatives will vote on the most important crypto legislation to date, the "21st Century Financial Innovation and Technology Act" (FIT21). We have long called for clear regulation to protect consumers and innovation, and the FIT21 bill will achieve this.

  • Tether CEO: Ripple CEO's comments spread fear about USDT

    According to reports, Tether CEO Paolo Ardoino responded to comments made by Ripple CEO Brad Garlinghouse in a recent interview about the stablecoin Tether (USDT) on social media. Garlinghouse stated in the interview that the US government is pursuing Tether, which is clear to me. Ardoino said that an uninformed CEO leading a company under SEC investigation launched a competitive stablecoin (cui prodest), spreading fear about USDT. Ardoino emphasized Tether's critical role in providing financial services to unbanked communities in emerging and developing regions, which are often overlooked by traditional financial institutions. He further asserted that Tether adheres to strict transparency and regulatory compliance standards, as evidenced by its compliance with the OFAC/SDN list, its partnership with Chainalysis, and its extensive collaboration with international law enforcement agencies to detect and prevent illegal activities, thereby enhancing the security of its ecosystem.

  • Swiss Crypto Bank Amina: Listing Ethereum as a Security Could Cause Many Crypto Teams to Exit the Space

    Swiss encrypted bank Amina stated in the latest "Cryptocurrency Market Monitoring" report that classifying Ethereum as a security could not only bring risks to the entire cryptocurrency market, but also lead to many cryptocurrency teams exiting the field. This determination could hinder the development of the cryptocurrency market and potentially reverse progress made over the years. In addition, the US SEC is likely to delay its decision on the status of Ethereum, putting the cryptocurrency asset in a "gray area".

Daily Must-Read

Popular Activities

Delysium $AGI & AI Private Yacht Party

Delysium $AGI & AI Private Yacht Party

March 27 - March 27
Seoul

Popular Tags

Cointime
News
Contents
RSS
Company