Harmony to Shut Down Layer 1 Blockchain, Shift Token to Ethereum for AI Video Push

Harmony has announced plans to fully sunset its Layer 1 blockchain, citing ongoing threats from state actors and AI agents. The team said its network had withstood attacks since its 2019 launch, but the time had come to wind it down entirely and redirect resources toward a new AI focused venture.

ONE Token Set for Ethereum Migration

The platform proposed moving its native ONE token to Ethereum through an airdrop, with holders, delegators, and validators required to take no action. Wallets, staking delegations, and validator rewards will be snapshotted at the final block, though multisig safes, liquidity pools, and onchain apps cannot be migrated, prompting users to exit smart contracts before September 10. Total supply and emission rates will stay the same.

Validators Offered Path Into New Venture

Validators can stop running nodes starting September 10, with Harmony setting aside $1.37 million to compensate those who sign agreements, keep their stakes, and move into “governor” roles under the new initiative, which centers on AI-generated video content built around a creator “remix economy.”

Past Security Troubles

The move follows a major exploit last month where attackers minted billions of unauthorized ONE tokens through a flaw in cross-shard verification, later reversed via a network rollback. Harmony’s 2022 bridge hack, tied to North Korea’s Lazarus Group, remains its most costly breach.