What is AtomOne?

AtomOne Hub envisions becoming a minimal, secure, and sustainable fork of the Cosmos Hub (Gaia), providing a reliable alternative that upholds sovereignty, security, and decentralization. AtomOne aims to complement the broader Cosmos ecosystem by introducing innovative solutions and perspectives, contributing to the creation of a diverse ecosystem of specialized zones that operate both in cooperation and competition.

By providing a secure and minimal alternative to the existing Cosmos Hub, AtomOne addresses the diverse and evolving challenges within the Cosmos ecosystem, stemming from differences in fundamental tokenomics, monetization strategies, and the balance between profit-driven interests and community responsibilities. Proposal No. 848 for the Cosmos Hub, which passed by a narrow margin, highlighted a deep division within the community regarding fundamental tokenomics and security design.

AtomOne Hub is designed to serve as the canonical minimal hub for IBC/ICS tokens and as a foundation for a more intelligent and unified voting block to protect the Cosmos ecosystem. Aligning with these ideals and fostering a diverse and cooperative environment, AtomOne Hub aims to set a new precedent for adaptive and responsive self-organization in the multi-chain, multi-token Cosmos universe.

General Provisions

• Sovereignty of AtomOne Hub: AtomOne Hub is a sovereign zone within the Cosmos Interchain network, composed of a root hub chain for staking and governance, and additional chains (core shards) secured by Interchain Security (ICS). These core shards are governed by the root hub chain. Other sovereign zones (consumer shards) connected to AtomOne Hub through ICS maintain their own governance mechanisms. AtomOne Hub respects their governance except in cases involving bugs, theft, or harm to the Cosmos ecosystem.

• Mission and Goals: The goal of AtomOne Hub is to provide a classic multi-token payment and transfer system supported by Byzantine Fault Tolerant (BFT) security and to scale platform security for multiple applications hosted in other zones via AtomOne Hub ICS. Additionally, it aims to demonstrate a decentralized experiment by forking the PoS blockchain, based on the previous governance voting history, as a means of supporting different perspectives on the original Cosmos Hub Gaia chain.

• Cosmonauts and Citizens: Every individual has the right to participate in AtomOne Hub, with the ability to hold an address as a cosmonaut and stake ATONE tokens to become a citizen, thus engaging in governance autonomously.

• Laws and Amendments: The governance structure of AtomOne Hub will consist of several decentralized autonomous organizations (DAOs) and sub-DAOs, each allowed to create their own bylaws as long as they do not conflict with the Constitution or existing mandates. Laws can be proposed by any citizen of AtomOne Hub through a defined governance process.

Economy

• Economic Model: The sole economic model for incentivizing AtomOne Hub is the collection of market fees for transactions across all chains secured by staking ATONE tokens in AtomOne Hub, including chains secured by ICS.

• ATONE Token: The ATONE token serves as a voting share, an economic incentive share, and a security bond for AtomOne Hub. To maintain the security and integrity of the active governance and validator set, the inflation rate of the ATONE token adjusts over time to achieve two-thirds of all ATONE tokens being bonded. The maximum inflation rate is capped at 20% per year, excluding compound interest. The minimum inflation rate is set at 7% per year, excluding compound interest. The mechanism by which the inflation rate adjusts over time must be defined by law.

• PHOTON Token: PHOTON will be the sole transaction fee token, applicable to all transactions on the root and core shards, as well as IBC and ICS payments. ATONE tokens can be burned to create PHOTON tokens at a legally established conversion rate, with a total supply cap of 1 billion PHOTON tokens.

• Public Pool: Revenue from the public pool will apply to transaction fees and inflationary ATONE tokens and will be directed to the public pool. The public pool tax rate will initially be set at 5%, but may be increased up to 10% by a two-thirds majority vote of AtomOne Hub Governance. Any potential increase will be capped at 33% per year.

Protocols

AtomOne Hub will use Tendermint and Cosmos SDK as its foundational software components. Specific forks/variations of the software are permitted, provided they are derivative works of the aforementioned components.