Harmony Proposes Mainnet Shutdown and ONE Token Migration to Ethereum

Harmony, once a major Ethereum competitor, proposed shutting down its mainnet on Sunday, citing severe threats from AI agents and nation-state actors. According to ChainCatcher, the team said the community has faced repeated attacks and changes since the mainnet launched in 2019, and it is now time to fully retire the Harmony network. The proposal would migrate ONE tokens to Ethereum and redirect new token issuance to a new initiative called The Remix Economy for AI Video. The migration would use the final block on Harmony to snapshot ONE balances and determine replacement token allocations for holders, including wallets, staked tokens, validator rewards, smart contracts, and centralized exchanges. Replacement tokens would be airdropped to the same wallet addresses on Ethereum, and exchange listings would also move to the new token. The proposal said holders would not need to submit claims, but multisig treasuries, liquidity pools, and on-chain applications would not migrate. Users were urged to exit all smart contracts by September 10, 2026. Harmony also proposed paying eligible validators and their delegators in four installments from a $1.372 million pool, provided validators keep their stake, sign an agreement, and take on a governance role. The migration proposal comes as blockchain networks face renewed scrutiny over attacks. In August, Harmony confirmed it had been attacked, saying the attacker created about 400 million unauthorized ONE tokens, after which the team released a patch and considered a rollback.