Key Takeaways
BlockchainReporter reports Harmony proposes shutting down its Layer-1 blockchain to migrate the ONE token to Ethereum and pivot to an AI video business.
According to BlockchainReporter, Harmony has proposed a voluntary shutdown of its Layer-1 blockchain and a migration of its native ONE token to Ethereum as an ERC-20 asset. Announced via an X post on September 6, 2026, the plan aims to retire the 2019 network and direct future token emissions toward an artificial-intelligence video business.
Under the non-binding proposal, Harmony would take a final snapshot of ONE balances across wallets, staking positions, validator rewards, and centralized exchanges to issue matching Ethereum ERC-20 tokens automatically.
The project cited security threats from state actors and AI agents. Harmony previously suffered a nearly $100 million drain on its Horizon bridge in June 2022—attributed by the FBI to North Korea’s Lazarus Group—and a recent August 11 exploit that minted unauthorized ONE tokens, forcing a chain rollback.
If the shutdown proceeds, validator rewards would instead fund the "Remix Economy for AI Video," a subscription service for creators and AI agents to generate video clips.
Source & Fact-Check Note
This report is synthesized from coverage by BlockchainReporter. Information has been fact-checked and structured for market clarity by CoinQuickly’s research desk.
Read original article at BlockchainReporter ↗
