Home›Crypto›Market Structure›Harmony proposes sunsetting ONE blockchain and moving…

Harmony proposes sunsetting ONE blockchain and moving token to Ethereum

Harmony set a Sept. 10 deadline for users to exit onchain ONE positions before nodes and apps tied to the current chain begin shutting down.

Reported · Written up by our desk · Market Structure

Harmony has proposed fully sunsetting its blockchain after seven years and migrating its native ONE token to Ethereum, using a final-block snapshot and an airdrop to deliver new ONE to holders, according to The Defiant.

Under the plan, the snapshot would cover ONE held in wallets, staking delegations, validator rewards, balances in smart contracts, and holdings on centralized exchanges. Harmony says new tokens would be airdropped to the same wallet addresses on Ethereum without a separate claim process, while delegated stakes and unclaimed rewards would be routed to individual governor vaults.

Harmony also said it cannot migrate multisig safes, liquidity pools, or apps, and urged users to exit all smart contracts before Sept. 10. It added that validators may begin shutting down nodes on Sept. 10, and described the move as driven by security risks from “state actors and AI agents,” while noting the proposal is non-binding and could change.

The team said token emissions would be redirected to a new “Remix Economy for AI Video” business, where creators publish open prompts and assets that others can fork, and AI agents generate additional clips from remixes. In a separate update tied to an Aug. 11 incident, Harmony said an exchange-related ONE gap was adjusted to 6.581 billion from about 10.234 billion after reconciling transfers across exchanges including Binance, Binance.US, Gate, KuCoin, MEXC, and OKX.

Latest closeEthereum $2,494.80 ▲0.1%

More like this

Sources