Harmony Proposes Network Shutdown and Migration to Ethereum

Harmony intends to shut down its network and transition its ONE token to the Ethereum blockchain. The project stated that the decision follows increasing threats from AI agents and state actors, which it described as too great to manage.

The transition involves a snapshot of ONE holdings at the final block of the Harmony network, followed by an airdrop of equivalent tokens to the same wallet addresses on Ethereum. The project confirmed that the total supply and emission rate of the token will remain unchanged. Public audits will be conducted on the Ethereum token contract, governor vault contract, snapshot calculations, and airdrop scripts.

Validators are permitted to stop running nodes starting Sept. 10. To address the transition, Harmony has allocated approximately $1.4 million for a compensation program covering the difference in emission rewards between a validator's final block and the network's final block.

Beyond the migration, the project is offering alternative roles for participants. Validators may transition into governor roles or join an AI video economy. GPU operators are eligible for first-year subsidies and support, with a target of generating $1 million in combined revenue. Affiliates are set to receive a 30% recurring commission on referred $10 monthly subscriptions.

Harmony launched in 2019 via a Binance Launchpad IEO. The project received backing from investors including Binance Labs, now known as YZi Labs, HashKey Capital, and Animoca Brands.