Harmony proposes to shut down its blockchain and move ONE token to Ethereum
Harmony to close its blockchain and move to Ethereum
Harmony, a seven‑year‑old blockchain, has announced a plan to permanently shut down its own network and transfer the ONE token to Ethereum. The proposal calls for a final‑block snapshot and an airdrop of new ONE tokens to the same wallet addresses on Ethereum.
Key details of the migration plan
- Snapshot of the last block on Harmony will be taken.
- ONE tokens will be airdropped to matching Ethereum addresses.
- Delegated stakes and unclaimed rewards will be placed in individual governor vaults.
- Smart contracts, liquidity pools and multisig safes will not move automatically; users must exit them before September 10.
- A $1.37 million compensation pool is proposed for governors and delegators, paid over four quarters.
- Future ONE emissions are slated for Harmony’s AI‑video initiative.
Background: recent exploit and rollback
On August 11, an exploit allowed attackers to reuse cross‑shard receipts and mint tokens without corresponding debits. The attack initially reported 4 billion unauthorized ONE, later revised to about 3.01 trillion ONE across six forged transactions. Harmony rolled back the chain on August 21, discarding more than 109,000 regular transactions and 315 staking transactions, and said the network was operating normally.
What the proposal includes
The plan is non‑binding and does not specify a final block or airdrop date. It keeps the token supply and emission schedule unchanged. Validators may begin shutting down from 7 a.m. Pacific Time on September 10, and users are urged to withdraw from smart contracts before that deadline.
Uncertainties and timeline
Harmony has not disclosed when the final block will be taken or when the airdrop will occur. The proposal remains a suggestion and could be altered before any action is taken.
Why the move matters
Harmony’s leadership cites threats from state actors and AI agents as reasons the network can no longer be sustained. Moving ONE to Ethereum would preserve the token’s value and utility after the blockchain is retired.
Next steps for users
Users should exit any smart contracts, liquidity pools or multisig wallets on Harmony before September 10 to avoid losing access to their assets. They may also consider monitoring future announcements for the exact snapshot and airdrop dates.
