Harmony Plans to Sunset Network and Move ONE to Ethereum for AI Video Initiative

Harmony announced a proposal to fully sunset its blockchain after seven years and migrate its native ONE token to Ethereum. Holders will receive new ONE tokens on Ethereum via a final‑block snapshot and airdrop, while token emissions will be redirected to a new AI‑video platform.

Snapshot and Migration Details

The snapshot will include ONE held in user wallets, staking delegations, validator rewards, smart contracts and centralized exchanges. New ERC‑20 ONE tokens will be airdropped to the same wallet addresses on Ethereum without a separate claim process. Delegated stakes and unclaimed rewards will be transferred to individual governor vaults.

Deadline for On‑Chain Users

Harmony set a deadline of September 10 for users with ONE deployed on‑chain. Multisig safes, liquidity pools and applications cannot be migrated, and users are urged to withdraw from all smart contracts before that date. Validators may begin shutting down nodes on the same day.

New Business Focus: AI Video "Remix Economy"

The team described the next phase as a video platform where creators publish open prompts and assets that others can fork, with AI agents generating additional clips from each remix. Emissions from the token will fund this platform, and the project plans to bootstrap the economy with creators and operators. Advertising revenue is projected to reach tens of millions of dollars from a million users, though no launch date or user metrics were provided.

Token Supply and Contracts

Harmony said the total supply and emission rate of ONE will remain unchanged after the move. It will publish the ERC‑20 contract, governor‑vault contract, snapshot calculations and airdrop scripts for public audit.

Recent Exchange Gap Adjustment

Harmony reduced the previously reported exchange‑related ONE gap from about 10.234 billion to 6.581 billion after reconciling transfers with Binance, Binance.US, Gate, KuCoin, MEXC and OKX. The adjustment does not represent recovered funds; exchanges have frozen affected balances and are working to resume deposits, withdrawals and trading.

Current Network Footprint

• Approximately 3.04 billion ONE staked across the network.
• Decentralized finance total value locked: $146,337.
• 24‑hour DEX volume: $4,611.
• Chain fees (24 h): $2.35.
• ONE price: ~ $0.00071, market cap ~ $10.6 million.

Validator Compensation

Harmony allocated a $1.372 million transition pool for validators who shut down on time, sign an agreement, retain their stakes and serve as governors in the new initiative. Compensation will be paid in four quarterly installments.