Altcoin News by Thebittimes.Com

Founder of the Cosmos block chain , Jae Kwon, has announced plans to fork a new chain , called AtomOne, follow ing a governance vote that did not align with his stance.  The news come after the Cosmos community welcomed a proposal to trim the maximum inflation rate of ATOM, the network’s native token, from 14% to 10%. The proposal recently passed despite Kwon voting against it, as it clinched the required governance vote. Kwon is now pushing for a split, seeking to fork the Cosmos network to create the new chain. He addressed the Cosmos community on X (formerly Twitter), emphasizing the need for a detailed discussion on the potential split.  Now listen up Cosmonauts. Despite our voting NWV #848 has ended up passing, something that isn't too surprising (though it would be good to know whether the later votes came from newly purchased atoms) @cosmos @Allinbits_inc #raptureparty #atomone Now let's coordinate a split. — antechristus #343 (@jaekwon) November 25, 2023...

The Arbitrum Foundation announced that it was only ratifying an existing decision when it proposed a 750 million ARB tokens budget. A proposal to fund the Arbitrum Foundation with 750 million ARB tokens — nearly $1 billion — raised controversy in the ARB community over the weekend, as the Foundation announced that it was only ratifying a decision that had already been made.  The conflict comes after a few days the layer-2 protocol airdropped its governance token. According to the AIP-1 proposal on Arbitrum's DAO, the 750 million tokens would be used to cover "Special Grants, reimbursing applicable service providers [...] and covering ongoing administrative and operational costs of The Arbitrum Foundation." Among tokens holders, over 70% are against the move at the time of writing. Screenshot: AIP-1: Arbitrum Improvement Proposal Framework. Source: Arbitrum DAO.  After facing backlash from community members, the Foundation said in a forum post on April 2 that AIP-1 wa...