Harmony Plans to Shut Down Mainnet and Migrate ONE to Ethereum, Shifting Focus to AI Video Remix Business

On September 6, Harmony announced two proposals to fully shut down its mainnet launched in 2019, migrate its native token ONE to Ethereum, and shift towards an AI video "remix economy" business. The team stated that threats from nation-state attackers and AI agents are the reasons for proposing the network closure plan.

The migration plan proposes to take a snapshot of user wallets, staking delegations, validator rewards, smart contracts, and tokens on centralized exchanges at the last block of the network. New ONE tokens will be airdropped to the same wallet addresses on Ethereum, and holders will not need to actively claim them; delegated staking and unclaimed rewards will be airdropped to their respective governance vaults. The total supply of ONE and its issuance rate will remain unchanged, with newly issued tokens intended for the new business and feedback from governors being considered. Multi-signature wallets, liquidity pools, and on-chain applications cannot be migrated, and the team urges users to exit all smart contracts by September 10, 2026, and plans to publicly release token contracts, snapshot calculations, and airdrop scripts for auditing.

Validators can stop running nodes starting from 10:00 PM Beijing time on September 10. The team plans to compensate for the difference in issuance rewards between node shutdown and the final block of the network, establishing a one-time compensation pool of $1.372 million to be paid out in four quarters to validators and their delegators who stop operations on time, sign agreements, retain staking, and serve as governors for the new project.

The new business will provide prompts and materials for users to create secondary content, with AI agents expanding video stories and recruiting operators responsible for video generation, distribution, and content review. Harmony plans to subsidize GPU hardware in the first year and promote video generation demand, with operators required to stake tokens and earn rewards based on service online time. The team aims to help operators generate up to $1 million in total revenue in the first year, provided they meet staking and online rate requirements; promoters can initially earn a 30% ongoing commission from each $10 monthly subscription they recommend. Both proposals are non-binding and may still be adjusted.

AI video business proposal: https://x.com/harmonyprotocol/status/2096604013940838667

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