Harmony proposes sunsetting its layer-1 blockchain and reissuing ONE token on Ethereum

Harmony has presented the idea of ceasing operations of its layer-1 blockchain and transferring ONE to Ethereum due to the concern that threats posed by state-sponsored hackers and AI agents have become overwhelming for the company to counter alone.

The proposal assigns a cost to what independent chains normally take care of on their own: security. By making ONE an ERC-20 token, Harmony would be doing away with its validator set and relying on the proof-of-stake (PoS) security provided by the Ethereum blockchain. Cryptopolitan previously reported that prior to its August incident, Harmony had been mulling a full token migration before settling on a rollback. The shutdown suggestion now presents the fallback plan as the primary option.

Why the team says it is pulling the plug

In its September 6 announcement, Harmony said, “The threats posed by state actors and AI agents are too great,” adding that it was “time to fully sunset the Harmony network.” The proposal was described as non-binding, per reports.

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