Harmony To Sunset L1, Move ONE To Ethereum
Harmony has proposed to voluntarily shut down its Layer-1 blockchain and migrate its native ONE token to Ethereum as an ERC-20 asset, the project said in an X post on Sept. 6. The plan would retire the network that launched in 2019 and redirect the tokens future emissions toward an artificial-intelligence video business. “The threats posed by state actors and AI agents are too great. Since our mainnet launch in 2019, our community has been resilient through attacks and changes, but it is time to fully sunset the Harmony network,” the project wrote. How the migration would work Under the proposal, Harmony would take a final snapshot of ONE balances and issue matching ERC-20 tokens to the same wallet addresses on Ethereum. The snapshot would cover tokens held in wallets, staking positions, validator rewards and centralized exchanges, and holders would not need to claim the new assets themselves. Harmony said it would publish the Ethereum contract, snapshot calculations and airdrop scripts for public review. The proposal is explicitly non-binding and carries a disclaimer that all plans are subject to change, and the project has not said whether the shutdown will pass through its validator governance process. A network that struggled to stay secure ONE reached roughly
