Harmony Proposes Network Sunset and ONE Migration to Ethereum

Harmony has proposed retiring its layer-1 blockchain and migrating ONE to Ethereum, setting out a potential change in direction toward an AI video-remix economy, The Block reported on September 6.

The plan follows continuing security concerns cited by the project. Validators could stop running nodes from 22:00 Beijing time on September 10, 2026, according to PANews. The proposed $1.372 million compensation pool would be paid over four quarters to qualifying validators and delegators, subject to conditions including timely shutdown, signed agreements and retained stakes.

A separate migration proposal would use a final-block snapshot to determine balances for an Ethereum-based distribution. Tokens would go to corresponding addresses, while delegated stakes and rewards would be allocated to the respective governance treasuries.

The proposed transition would preserve ONE’s total supply and emission schedule, The Block reported. Smart contracts, multisignature accounts and liquidity pools would not automatically migrate with token balances.

PANews’ September 6 account describes the two proposals as nonbinding, leaving their adoption and implementation distinct from the announcement itself.

Cover: AI-generated illustration of the proposed migration.