Harmony Abandons Layer 1 Blockchain, Migrates ONE to Ethereum

Harmony has announced plans to shut down its Layer 1 blockchain and migrate the ONE token to Ethereum. The move is in response to security threats from state actors and AI agents, according to a September 6 post from Harmony's official X account.

The proposed shutdown would replace existing balances with matching ERC-20 ONE tokens on Ethereum, covering wallet balances, staking accounts, validator rewards, smart contracts, and exchanges. However, multisig safes, liquidity pools, and on-chain applications cannot be migrated and users are urged to exit those contracts by September 10.

The proposal is non-binding and does not specify a final block date or governance process. Harmony has taken a snapshot of the network and plans to airdrop matching Ethereum tokens to corresponding wallet addresses.