Harmony Shuts Down Mainnet, Migrates ONE Token to Ethereum Amid Security Concerns

Harmony, a blockchain network launched in 2019, has proposed shutting down its mainnet and migrating its ONE token to Ethereum. According to the plan, users have until September 10 to exit smart contracts as multisig wallets, liquidity pools, and on-chain applications will not migrate. This move is attributed to growing threats from state actors and AI agents.

The proposal calls for a final-block snapshot followed by an airdrop of ONE as an ERC-20 token on Ethereum. Harmony plans to shift its focus toward an AI-powered video 'remix economy'. Users who do not exit their smart contracts by the deadline will lose access to these services after the shutdown.