Harmony plans to shut down its blockchain and move ONE token to Ethereum for AI video platform
Harmony announces network shutdown and token migration
Harmony has proposed to fully sunset its blockchain after seven years and move its native ONE token to Ethereum. Holders will receive new ONE tokens on Ethereum via a snapshot and airdrop.
Key points
- Snapshot will include wallet balances, staking delegations, validator rewards, smart contracts and exchange holdings.
- New tokens will be airdropped to the same addresses on Ethereum; a separate claim is not required.
- All on‑chain contracts, liquidity pools and multisig safes must be exited by 10 September 2026.
- Harmony cites security threats from state actors and AI agents as the reason for the change.
- The token’s total supply and emission rate will stay the same after the move.
What the Harmony proposal says
The proposal, posted on Harmony’s official X account, describes the plan as non‑binding and subject to change. It outlines a “Remix Economy for AI Video” where creators publish prompts and assets that AI agents can remix into new video clips.
Reported claims from Harmony
- The team says advertising on the new video platform could generate “tens of millions of dollars” from a million users.
- Harmony expects creator and operator participation to bootstrap the economy.
Exchange gap adjustment
Harmony reduced the reported ONE balance gap from the August 11 incident to 6.581 billion tokens, down from about 10.234 billion. The adjustment follows reconciliation with Binance, Binance.US, Gate, KuCoin, MEXC and OKX.
Current network status
About 3.04 billion ONE are staked on the network, with a median stake of 6.83 million ONE. Decentralized finance value locked is roughly $146,337 and 24‑hour DEX volume is $4,611. ONE trades around $0.00071, giving a market cap near $10.6 million.
Validator compensation
Harmony set aside a $1.372 million transition pool for validators who shut down on time, sign an agreement and serve as governors in the new initiative. Payments will be made in four quarterly installments.
What remains unclear
- Exact launch date and user numbers for the AI video platform have not been disclosed.
- Details of the ERC‑20 contract, governor‑vault contract and airdrop scripts will be published for audit, but are not yet available.
Why it matters
Moving ONE to Ethereum could give the token access to a larger ecosystem and liquidity. The shift also reflects Harmony’s response to security concerns and its pivot toward AI‑driven video content.
