Harmony Proposes Blockchain Shutdown Amid AI Threats
Harmony, a layer-1 blockchain that launched in 2019, has proposed shutting down its network due to increased threats from AI agents and state actors. The Harmony team cited the growing sophistication of cyberattacks enabled by frontier AI models as the reason for their proposal.
The shutdown plan includes moving Harmony's ONE token to Ethereum and redirecting token emissions towards a new initiative called 'The Remix Economy for AI Video'. Validators, who verify network transactions, could take governance roles or join the AI-video business. The migration would record ONE balances at the final block and determine each holder's allocation of replacement tokens on Ethereum.
Harmony also proposes paying eligible validators and their delegators from a $1.372 million pool in four quarterly installments. Users are urged to exit smart contracts before September 10, as multisig safes, liquidity pools, and onchain apps cannot be migrated.