The protocol has introduced two non-binding proposals that would bring an end to its original mainnet after seven years of operation. The plan calls for migrating the native ONE token to Ethereum and shifting the project's focus toward AI-generated video content. The proposals are still subject to community and validator feedback.
At a Glance
Harmony Protocol news put forward two non-binding proposals to fully sunset its Layer-1 mainnet, launched in 2019
Native token ONE would migrate to Ethereum as an ERC-20 asset via a final-block snapshot and automatic airdrop
Cited reasons include ongoing security threats from state actors and AI agents
Users are urged to exit smart contracts by September 10, 2026
Validators can begin sunsetting nodes on September 10, 2026 at 7:00 a.m. Pacific Time
A $1.372 million compensation pool has been proposed for validators
Harmony latest update plans to pivot toward an AI video remix business called "The Remix Economy for AI Video"
Multisig wallets, liquidity pools, and on-chain apps will not migrate automatically
Harmony's announcement describes plans to wind down the Layer-1 network it launched in 2019. The team pointed to escalating risks from state-sponsored actors and AI-driven attacks as the primary justification for ending the chain rather than continuing to patch it.
It has framed the move as a recognition that the network has reached the end of its viable lifespan, closing out seven years marked by both growth and repeated security incidents. As with any governance announcement, the proposals remain non-binding, meaning final terms could still shift before implementation.
Source: Harmony Official X
Under the proposed plan, it would record a snapshot of ONE balances at the network's final block. Wallets, staking delegations, and validator rewards captured in that snapshot would automatically receive an equivalent amount of new ERC-20 ONE tokens on Ethereum (ETH), sent to the same wallet addresses.
Holders would not need to file a separate claim. It has also indicated it intends to work with exchanges to migrate existing ONE listings over to the Ethereum-based version of the token.
| ONE Holding/Account | Migration Status |
| User wallets | Snapshotted and airdropped |
| Staking delegations | Included |
| Validator rewards | Included |
| Centralized exchange balances | Included in snapshot |
| Smart contracts | Users urged to exit beforehand |
| Multisig safes | Cannot be directly migrated |
| Liquidity pools On-chain applications | Cannot be directly migrated Cannot be directly migrated |
Anyone with funds locked in contracts, multisigs, or liquidity pools should treat the September 10 deadline as a hard cutoff, since those positions will not carry over automatically.
The timing follows an August 11, 2026 exploit in which billions of ONE tokens were minted without authorization, according to reporting from The Block. That incident compounds damage from a much larger breach in June 2022, when Harmony's Horizon cross-chain bridge was drained of roughly $100 million in an August 2026 crypto hack.
The protocol's own statement described the combined pressure from repeated Harmony exploits and newer AI-enabled attack methods as more than the network could reasonably withstand going forward.
Source: Crypto Banter
The protocol has asked users to exit any smart contract positions before September 10, 2026. Starting that same day at 7:00 a.m. Pacific Time, validators may begin shutting down their nodes. A proposed $1.372 million compensation pool, matching a year's worth of network emissions prior to the August exploit, would cover the difference in rewards for validators who sunset on schedule.
Validators who retain their stakes and sign on as governors would receive payouts across four quarterly installments. This is procedural guidance from the project, not financial advice.
2019: Harmony mainnet launches
June 2022: Horizon bridge exploited for roughly $100M
August 11, 2026: Unauthorized ONE minting incident
September 10, 2026: Smart-contract exit deadline; validators may sunset nodes
Final block: ONE balances snapshotted
After final block: ERC-20 ONE airdropped on Ethereum
Beyond the token migration, Harmony plans to redirect its efforts into "The Remix Economy for AI Video." The proposal includes GPU hardware subsidies for former validators who become AI video operators, with a stated goal of helping them generate up to $1 million in combined revenue in year one, subject to staking and uptime conditions.
An affiliate program would offer a 30% recurring commission on referred $10 monthly subscriptions. Ongoing ONE emissions would be redirected to fund this new venture, pending governor input.
For most holders, the migration is designed to be automatic: eligible wallets, staking positions, and exchange balances are expected to receive Ethereum-based ONE without any action required. Anyone using multisigs, liquidity pools, or on-chain applications needs to act before the deadline, since those will not transfer on their own.
It will publish the ERC-20 contract, governor vault contract, snapshot methodology, and airdrop scripts for public review. Because the proposals remain non-binding, holders should watch for final governance votes, the confirmed Ethereum contract address, and exchange migration announcements as the September 10 deadline approaches.
Disclaimer: This article is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency markets are volatile, and migration proposals may change before final implementation. Readers should verify details through Harmony's official channels and consult a qualified financial advisor before making investment decisions.
