Cosmos Hub plans to conduct a hard fork

Cosmos founder Jay Kwon plans to hard fork Cosmos Hub after accepting a proposal to introduce an inflation cap on the ATOM token.

The new token will be ATOM1, which will be distributed among those who voted against reducing inflation. The fork will create a new network called AtomOne, where most of the tokens will be returned to those who were against the proposal.

The controversial ATOM inflation cap proposal was narrowly approved by the community, with Kwon expressing his opposition to the decision. He plans to change the governance mechanisms in the new network and create a separate paid Photon token, which will work in conjunction with ATOM1.

The Cosmos Hub fork will use the same software as the existing network and will retain key features such as IBC and cross-chain security.