Harmony plans to shut down its mainnet, migrating ONE to Ethereum and pivoting to AI video editing business

Odaily reported that Harmony has released two proposals to completely shut down its mainnet launched in 2019, migrate its native token ONE to Ethereum, and pivot to an AI video editing business. The team stated that threats posed by state-level attackers and AI agents are the reasons behind the proposal to shut down the network. Under the migration plan, a snapshot of ONE held in user wallets, staking delegations, validator rewards, smart contracts, and centralized exchanges will be taken at the network's final block. New ONE tokens will then be airdropped to the same wallet addresses on Ethereum, with no action required from holders; delegated staking and unclaimed rewards will be airdropped to respective governance treasuries. The total supply of ONE and its issuance rate will remain unchanged, with newly issued tokens intended for the new business, subject to feedback from governance participants.