In a significant shift for the project, Harmony has suggested abandoning its seven-year-old layer-1 blockchain and transferring the ONE token to Ethereum. The plan states that on September 10, validators may begin shutting down Harmony nodes, and ONE would be issued as an ERC-20 token on Ethereum after a final network snapshot. The final block date has not yet been revealed by Harmony, and the plan is not yet legally binding. As the initiative prepares to shift its focus to an AI-powered video firm, the decision was made in reaction to a recent security compromise.
Harmony said it plans to record ONE balances held in personal wallets, staking accounts, validator rewards, smart contracts and centralised exchanges at the final snapshot. Replacement ERC-20 tokens would then be sent to the same wallet addresses. Users would not need to submit separate claims.
— Harmony (@harmonyprotocol) September 6, 2026
The project said the token’s total supply and emission rate would remain unchanged. It also plans to publish the Ethereum token contract, snapshot calculations and airdrop scripts so that the migration can be independently checked.
There are some important limitations. Multisig safes, liquidity pools and other on-chain applications cannot simply be moved to Ethereum under the proposed system. Harmony has therefore asked users to withdraw assets from smart contracts before September 10. Exchanges holding ONE would be included in the snapshot, with Harmony planning to work with them on the transition.
Validators are being offered a separate incentive. Harmony has set aside $1.372 million for eligible validators and delegators who shut down their nodes on time, maintain their stakes and continue to participate as governors. The payments would be made over four quarters.
But the blockchain’s retirement is only part of Harmony’s proposed new direction. The team wants to build what it calls an AI video “remix economy”, where creators publish prompts and other material that users can remix. AI agents would then turn these different versions into new video clips.
Operators would manage video generation, distribution and moderation, while staking and service uptime would be linked to rewards. Harmony also plans to subsidise GPU hardware during the first year. It has suggested a $10 monthly subscription and said advertising could eventually become a significant source of revenue if the platform attracts a large user base.
The decision follows a serious security incident in August. Harmony discovered that a flaw in cross-shard receipt verification had allowed certain transactions to be processed more than once, resulting in the creation of unauthorised ONE tokens.
The project’s later investigation found that more than 3 trillion ONE had been created across six transactions. Harmony considered several recovery options, including a blockchain rollback. It eventually proposed reversing activity on two shards to checkpoints recorded before the forged minting took place.
The latest migration proposal represents a much bigger change. Instead of simply repairing the existing network, Harmony now wants to end its independent blockchain altogether and make Ethereum the home for ONE.
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