Harmony Plans to Shut Down Layer 1 and Move ONE to Ethereum
Harmony announced on September 6 that it plans to sunset its Layer 1 blockchain and move ONE to Ethereum, citing security threats from state actors and AI agents. The proposal would replace existing balances with matching ERC-20 ONE tokens on Ethereum, but would also require users to leave certain on-chain contracts before a September 10 deadline.
The network has not set a final shutdown date, and the proposal is not binding.
ONE holders would receive matching Ethereum tokens
Under the proposal, Harmony would take a final snapshot of the network and airdrop matching ERC-20 ONE tokens to corresponding Ethereum wallet addresses, covering wallet balances, staking accounts, validator rewards, smart contracts and exchanges, according to The Block. The structure would migrate ONE balances to Ethereum rather than leave them on the sunset Layer 1 network. Harmony described the Layer 1 sunset in a September 6 post from its official X account.
Multisigs, liquidity pools and applications face a September 10 exit deadline
Not every asset or position can move through the proposed snapshot and airdrop. Harmony said multisig safes, liquidity pools and on-chain applications cannot be migrated, and urged users to exit those contracts by September 10.
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