Harmony Proposes Mainnet Shutdown, ONE Migration to Ethereum, and AI Video Business Shift

Harmony has proposed two non-binding plans to shut down its mainnet, migrate the native ONE token to Ethereum, and shift into an AI video remix business. According to PANews, the team said threats from state-level attackers and AI agents were the reasons for proposing the network shutdown. The migration plan would take a snapshot at the network's final block of user wallets, staking delegations, validator rewards, smart contracts, and tokens held on centralized exchanges. New ONE would be airdropped on Ethereum to the same wallet addresses without requiring holders to claim it, while delegated staking and unclaimed rewards would be airdropped to the respective governance treasuries. The total ONE supply and issuance rate would remain unchanged, and newly issued tokens would be used for the new business. Harmony said multisig wallets, liquidity pools, and on-chain applications cannot migrate, and urged users to exit all smart contracts by September 10, 2026. The team also plans to publish the token contract, snapshot calculations, and airdrop scripts for audit. Validators can stop running nodes starting at 22:00 (UTC+8) on September 10. The team plans to compensate the difference in issuance rewards between node shutdown and the network's final block, and has set aside a one-time compensation pool of $1.372 million. Payments would be made over four quarters to validators and delegators who stop on time, sign the agreement, keep their stake, and serve as governors for the new project. The new business would allow users to remix prompts and materials, with AI agents expanding video stories. Harmony also plans to recruit operators for video generation, distribution, and content review. In the first year, the company plans to subsidize GPU hardware and support video generation demand, while operators would stake tokens and earn rewards based on service uptime. The team said operators could generate up to $1 million in combined first-year revenue if staking and uptime requirements are met, and promoters could receive a 30% ongoing commission from their referrals' monthly $10 subscriptions.