All in Bits, spearheaded by Cosmos co-founder Jae Kwon, is gearing up for the launch of its novel GovGen blockchain and token, timed ahead of the Cosmos Hub AtomOne fork set for February 27. This initiative involves the issuance of "GovGen" tokens to Cosmos Hub stakeholders who previously opposed Proposition 848, which aimed to reduce ATOM inflation tokens to 10%. Notably, these tokens are intended solely for voting purposes and cannot be traded among participants. Following the slim majority passage of Proposition 848, factions emerged within the Cosmos Hub community, with one side backing proponents like Cosmos co-founder Ethan Buchman and ZKValidator, who supported the proposal.
With tensions escalating, the dissenting camp is poised to fork the Cosmos Hub blockchain on February 27. They plan to govern the new fork in collaboration with an alliance of AtomOne stakeholders and GovGen, effectively creating a decentralized alternative. While the precise allocation of GovGen tokens remains unclear, the initial 10% is earmarked for governance expenses. The bulk will be distributed among ATOM holders with voting privileges, with dissenting voters expected to receive a larger share than those who favored Proposition 848. This strategic move appears to grant them significant decision-making authority.
A GitHub post from the AtomOne team hints at the political undertones behind the initiative, emphasizing the need for an alternative hub to uphold ideals of sovereignty, security, and decentralization globally. Additionally, it underscores the platform's role as a foundation for Gaia's political factions, fostering more informed voting blocs to preserve Gaia itself. Meanwhile, in a separate development, Jae Kwon's personal X account faced restrictions on the social media platform for violating its terms of service. Subsequently, on February 24, the @jaekwon account announced its migration to a new handle, @donkeykwon, for personal communications.
