Cosmos developer AllinBit (AiB) will introduce a new blockchain network called GovGen ahead of AtomOne, a controversial fork of Cosmos Hub.
Development of GovGen, scheduled to launch Tuesday at 9 a.m. ET, is led by All in Bits, a company owned by Cosmos co-founder Jae Kwon. Kwon has had serious disagreements with the wider Cosmos community in recent years.
GovGen will shape the design of the upcoming AtomOne fork through a decentralized decision-making process. “GovGen will vote on all decisions about what AtomOne will look like and how it will be launched,” a spokesperson said.
GovGen, the network’s native token, will be distributed to ATOM holders who voted “no” or are automatically designated as unable to vote due to the delegation status of Cosmos Hub Proposal 848. This particular proposal set the maximum inflation rate at 10% — and was approved despite Kwon’s opposition, contrary to the positions of numerous other contributors within the ecosystem.
CEO Kwon, who played a pivotal role in developing Cosmos’ Tendermint consensus algorithm and co-founding Cosmos Hub, previously expressed concerns about the impact of Proposal 848 on network security.
Cosmos Hub, launched in 2019, has seen its founders go down different paths over time. Both continue to be active within the Cosmos ecosystem, albeit through different entities. Kwon leads AiB and Buchman heads Informal Systems, which supported Proposition 848.