Harmony, a blockchain that has operated for seven years, has announced plans to sunset its layer-1 network and migrate its native ONE token to Ethereum. According to CryptoSlate, the project is permanently abandoning its own chain in favor of refuge on Ethereum, effectively ending its run as an independent layer-1 platform.
The proposed migration follows an earlier exploit and rollback. Under the current plan, the ONE token would transition to become an Ethereum-based asset, and users are being urged to exit any remaining smart contracts before a September 10 deadline. Both CryptoSlate and Decrypt reported that the team has set this date for contract closures, giving token holders, liquidity providers, and DeFi participants a narrow window to unwind positions and retrieve funds before the network ceases operations.
According to Decrypt, the shutdown proposal is driven by a broader strategic pivot toward the AI-video business, with the team citing AI threats among the motivations for retiring its own blockchain. The move would transform Harmony from an independent layer-1 competitor into an Ethereum-aligned project while the organization redirects its resources toward generative video technology rather than consensus maintenance.
The decision carries significant implications for the decentralized finance ecosystem that once operated on Harmony. The chain previously hosted cross-chain bridges, decentralized exchanges, and lending protocols that attracted capital from users seeking alternatives to Ethereum mainnet fees. The sudden call to migrate leaves developers with minimal time to port or sunset their own contracts, and liquidity providers must act quickly to avoid being stranded on a chain slated for decommission. A full layer-1 sunset, if executed, would be a rare event among established blockchains and would underscore the operational and security challenges of maintaining independent infrastructure after an exploit and rollback.
By transferring ONE to Ethereum and exiting chain operations, Harmony appears to be following a path taken by other projects that have concluded that operating a standalone network is no longer viable. The coming weeks will reveal how much value and how many users successfully make the transition before the September 10 cutoff, after which the team intends to focus on its new AI-video venture rather than network operations.