Harmony is promoting a non-binding plan to stop the operation of the current blockchain this Sunday and migrate the ONE tokens to Ethereum. The team states that threats from AI proxies and national-level attackers have risen to a level where it is no longer feasible to maintain the network.
The announcement indicates that this plan has not yet been finalized, but the team has reminded users to deal with their on-chain assets as soon as possible. For funds still in multi-signature wallets, liquidity pools, and on-chain applications, users need to withdraw them by September 10, 2026, as such assets cannot be transferred during the migration process.
ONE Balance migration based on snapshot
According to the plan, Harmony will record the balance of ONE in the last block of the mainnet, and based on this, the allocation of new tokens on Ethereum will be determined. The coverage includes ordinary wallets, tokens in staking, validator rewards, smart contract assets, as well as positions held on centralized exchanges.
The team stated that the replacement tokens will be directly airdropped into the Ethereum wallets at the same addresses, and holders do not need to apply separately. Those who delegate staking and have not claimed rewards will have their tokens transferred to their respective governance treasuries. The exchange's listing arrangements for these tokens will also be switched to the new tokens accordingly.
Verifiers shift towards governance and new businesses
Harmony also proposed to make payments from a fund pool of $1.372 million to eligible verifiers and their proxies, to be distributed over four quarters. The prerequisite is that the verifiers retain their stakes, sign the agreement, and continue to serve in governance roles.
The team also stated that the total supply and issuance rate of ONE will not change, but subsequent new tokens will be directed towards supporting the new AI video project “Remix Economy”. Verifiers can continue to participate in governance in the future, or they can also join this new business direction.
An overissue attack occurred in August.
Harmony confirmed a vulnerability exploitation in August, during which attackers illegally minted approximately 4 billion ONE. The team subsequently released a patch and stated that they had considered rolling back the state on the chain to reverse the related transactions.
This shutdown proposal also reflects that AI is becoming more deeply involved in the defense and attack of encryption security. Recently, some companies in the industry have suspected that attackers are using advanced models to find vulnerabilities; at the same time, developers have also begun to use AI to review wallets, payment tools, and Bitcoin-related software in order to detect issues earlier.
Additional information:Harmony was launched in 2019 and was once a public chain known for its PoS architecture and sharding technology, with the goal of increasing throughput and reducing network concentration.
