Harmony Proposes Layer 1 Blockchain Sunset and ONE Token Migration to Ethereum

Key Facts

1Harmony has proposed retiring its seven-year-old layer-1 blockchain and migrating its ONE token to the Ethereum network.

2Validators can begin shutting down nodes from Sept. 10 as the project pivots toward a new AI video business model.

In a move reflecting radical shifts in blockchain project strategies, Harmony has proposed retiring its native Layer 1 blockchain and fully migrating to the Ethereum network. According to reports, this decision follows seven years of operation, with the project intending to reissue its native ONE token as an ERC-20 token on Ethereum, effectively ending its run as an independent blockchain that launched in 2019.

The proposal includes a strategic pivot toward an AI-driven video business model, with validators permitted to begin shutting down nodes starting September 10, 2026. This transition occurs within a broader restructuring context, where the project has allocated $1.372 million to compensate validators and delegators who shut down their nodes on time and agree to continue as governors for the project's new direction.

Looking ahead, the proposal requires participation representing 51% of the total stake weight and 66.7% support following a 14-day voting period. With price data currently unavailable for the ONE token, investors are closely watching for the final network snapshot that will determine token holders' eligibility for the migration into the Ethereum ecosystem.