Harmony ONE Ethereum migration: Why is the main network about to close after seven years?

Harmony ONE Ethereum Migration: What must users do before September 10?

The agreement proposes two non-binding proposals aimed at ending the original main network after seven years of operation. The plan calls for the migration of the native token ONE to Ethereum and a shift in the project's focus to AI-generated video content. Currently, these proposals still require feedback from the community and validators.

Highlights

Harmony Protocol News: proposes two non-binding proposals to completely disable its Layer-1 main network launched in 2019.

Native token ONE migration: will be automatically migrated to ERC-20 assets on Ethereum through final block snapshots and airdrops.

cited reasons: Including ongoing security threats from state actors and AI agents.

User Action: Users are urged to exit smart contracts before September 10, 2026.

Verifier Action: Verifiers can start offline at 7:00 a.m. Pacific Time on September 10, 2026.

Compensation pool: proposes to establish a compensation pool of US$1.372 million for use by verifiers.

Strategic transformation: Harmony's latest plan to shift to an AI video business called the "AI Video Mixing Economy."

Notes: Multi-signature wallets, liquidity pools, and on-chain applications will not be automatically migrated.

Harmony proposes to completely shut down its main network after seven years of operation

Harmony's announcement describes plans to liquidate its Layer-1 network, which was launched in 2019. The team pointed to the escalating risk of attacks from state sponsored actors and AI-driven attacks, which is the main reason to end the chain rather than continue to patch it. It framed the move into an understanding that the network had reached the end of its viable life, ending seven years of history that were both full of growth and accompanied by repeated security incidents. Like any governance announcement, the proposals remain non-binding, meaning final terms may still change before implementation.

How will Harmony ONE migrate to Ethereum?

Under the proposed plan, it will record a snapshot of the ONE balance in the last block of the network. The wallets, pledge commissions, and verifier rewards captured in this snapshot will automatically receive the same amount of new ERC-20 ONE tokens sent to the same wallet address. Holders do not need to submit a separate application for collection. It also said it intends to work with the exchange to migrate its existing ONE listing list to an Ethereum-based version.

Which ONE positions will be migrated and which will not?

ONE Position/Account Type Migration Status User Wallet has been snapped and airdropped Pledge Commitments included Verifier rewards included Centralized exchange balances included in snapshots Smart contracts urge users to withdraw early from multi-signature vaults Unable to directly migrate liquidity pools Unable to directly migrate on-chain applications Users who cannot directly migrate any funds locked in contracts, multi-signatures or liquidity pools should regard the September 10 deadline as a hard deadline. Because these positions will not be automatically carried forward.

Why is Harmony shutting down its main network now?

This timing followed an exploit on August 11, 2026, when The Block reported that billions of unauthorized ONE tokens were minted. The incident exacerbated the damage caused by a larger intrusion in June 2022, when Harmony's Horizon Cross-Chain Bridge was stolen about $100 million in an August 2026 cryptocurrency hack.

The protocol's own statement describes the combined pressure caused by repeated Harmony exploits and emerging AI-assisted attack methods, arguing that the network will not be reasonably able to withstand in the future.

September 10 Deadline: ONE User Notice

The agreement already requires users to withdraw from any smart contract positions before September 10, 2026. Starting at 7:00 a.m. Pacific Time that day, validators can begin shutting down their nodes. A proposed compensation pool of $1.372 million, equivalent to network emissions for the year before the August 2026 exploit, would cover the difference in rewards for validators who go offline on time. Verifiers who retain the pledge and sign it as managers will receive payments in four quarters. This is procedural guidance for the project, not financial advice.

Harmony ONE Migration Schedule: From Main Network to Ethereum

• 2019:Harmony Main Network Launch
• June 2022:Horizon Bridge was utilized and lost approximately US$100 million.
• August 11, 2026: Unauthorized one-click casting incident
• September 10, 2026: Smart contract exit deadline; Verifier can go offline to node
• Final block: ONE Balance Snapshot
• After the final block: ERC-20 ONE flies over Ethereum

What will happen to Harmony after ONE migration?

In addition to token migration, Harmony also plans to reinvigorate its efforts into the "AI video mixing economy." The proposal includes a GPU hardware subsidy for former verifiers who become AI video operators, with a stated goal to help them generate up to $1 million in comprehensive revenue in the first year, depending on pledge and uptime conditions. Affiliated plans will provide a recurring 30% commission on recommended $10 monthly subscriptions. Continued ONE emissions will be redirected to fund this new initiative, provided that regulators 'advice is obtained.

What does the closure of Harmony's main network mean for ONE holders?

For most holders, migration is designed to be automated: eligible wallets, pledged positions and exchange balances are expected to receive Ethereum-based ONE without any action being taken. Anyone using multi-signatures, liquidity pools, or on-chain apps needs to take action before the deadline because these will not transfer themselves. It will release ERC-20 contracts, manager vault contracts, snapshot methods and airdrop scripts for public review. As the proposal remains non-binding, holders should pay close attention to the final governance vote, confirmed Ethereum contract addresses, and exchange migration announcements issued as the September 10 deadline approaches.