Harmony Plans to Shut Down Blockchain Network, ONE to Migrate to Ethereum

Odaily Planet Daily News: Layer-1 blockchain project Harmony stated that threats posed by AI agents and nation-state actors have reached a level where it is no longer feasible to sustain network operations, and the team plans to terminate the Harmony network. The proposal is currently non-binding, and users are required to exit smart contracts before September 10, 2026.

Harmony intends to migrate ONE to Ethereum, with replacement token distributions determined by balances recorded on the network's final block, including wallets, staked tokens, validator rewards, smart contracts, and centralized exchange holdings. Replacement tokens will be airdropped to the same wallet addresses on Ethereum, though multi-signature vaults, liquidity pools, and on-chain applications cannot be migrated.

Harmony also plans to disburse funds to eligible validators and delegators over four quarters from a pool of $1.372 million, provided they retain staking, sign agreements, and act as governance participants. The total supply and release rate of ONE remain unchanged, with released tokens to be allocated for "The Remix Economy for AI Video" initiative. (Decrypt)