Why Ethereum and Not Another Chain?
Harmony, the seven-year-old Layer 1 blockchain, has proposed closing its mainnet and migrating its native ONE token to the Ethereum network as an ERC-20 token. The plan, announced on September 7, 2026, includes recording all ONE balances at the final block and recreating them on Ethereum. Future token emissions will be directed toward a new AI video project.
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What Happens to Developers and d Apps?
Harmony’s leadership cited Ethereum’s security, decentralization, and established infrastructure as key reasons for the migration. The ERC-20 standard ensures compatibility with most decentralized finance platforms, wallets, and exchanges. The team emphasized that the migration will be non-disruptive for users, with a clear snapshot mechanism to preserve token holdings. No new ONE will be minted on the Harmony mainnet after the shutdown, and all future emissions will support the AI video initiative, which aims to create decentralized tools for generative content creation.
Developers currently building on Harmony’s mainnet will need to migrate their applications to Ethereum or other chains before the shutdown date, which has not yet been finalized. The Harmony team said it will provide tools and documentation to assist with the transition, including bridges and SDKs for porting smart contracts. However, some projects may choose to pause or cease operations due to the costs and complexity of migration. The team acknowledged that ecosystem support will be a critical factor in the success of the move.
Will users lose their ONE tokens during the migration? No. All ONE balances will be snapshotted at Harmony’s final block and automatically converted to ERC-20 tokens on Ethereum at a 1:1 ratio. Users will need to claim their tokens via an official interface, but no action is required to preserve value.
Frequently Asked Questions
What will happen to the Harmony blockchain after the shutdown? The Harmony mainnet will be permanently closed. No further transactions, block production, or smart contract execution will occur on the network. The chain will be archived, and no new ONE will be issued on it.
Is the AI video project related to ONE tokenomics? Yes. Future emissions of ONE will be allocated exclusively to fund development and incentives for the new AI video project, which aims to build open tools for AI-generated video content on Ethereum. This represents a strategic pivot from general-purpose blockchain infrastructure to a focused application layer.
