Harmony Abandons Blockchain Network Amid State Actor, AI Threats
Harmony has announced plans to shut down its own blockchain network due to increasing threats from state actors and AI agents. The decision to transition the ONE token to the Ethereum network is a strategic move to ensure the security and stability of the token.
The shutdown of Harmony's network will begin on September 10, at which point validators can stop running nodes. To compensate for lost emission rewards, about $1.4 million has been allocated. ONE token holders will receive an equivalent airdrop of tokens on Ethereum, with the total supply and emission rate remaining unchanged.
Harmony is also offering validators opportunities to participate in governance and a new AI video economy initiative. This move highlights the company's efforts to adapt to the evolving landscape and leverage emerging technologies to drive growth.