Harmony Plans Blockchain Sunset, Migrates ONE to Ethereum for AI Video Business

Harmony has proposed sunsetting its blockchain after seven years and migrating its native ONE token to Ethereum. The plan involves snapshotting ONE at the final block, redirecting emissions to a new AI video business called the 'Remix Economy for AI Video,' and airdropping new tokens to holders.

The transition will create a Sept. 10 deadline for users with ONE deployed onchain, as multisig safes, liquidity pools, and apps cannot be migrated. Harmony urged users to exit all smart contracts before that date.

Harmony attributed the proposal to security risks, citing threats from state actors and AI agents. The team will publish the ERC-20 contract, governor-vault contract, snapshot calculations, and airdrop scripts for public audit.