Harmony to wind down Layer 1, shift ONE token to Ethereum by September 2026
AI & Agents ·
The project says it will retire its mainnet and steer its business toward AI video creation, according to The Block.
Harmony has put forward a plan to discontinue its blockchain and move holders of its native ONE token onto Ethereum, with the migration slated for completion by September 2026. The proposal frames the transition as more than a technical swap: the team intends to redirect its operations entirely into the AI video economy, effectively abandoning the Layer 1 network it has run for years in favor of a new line of business built around video-generation technology.
The move fits a broader pattern seen across the industry this year, in which projects facing weak demand or thinning runway choose to sunset infrastructure rather than continue funding it indefinitely. Coverage of the wider shutdown trend has documented similar decisions at chains and protocols citing unsustainable operations, including a separate case in which a chain shut down and moved its NFTs to Ethereum. Harmony's situation appears to belong to that same category of strategic pivot rather than an exploit-driven closure, since no hack or security breach has been cited as the trigger.
For ONE token holders, the practical stakes center on the migration window. Comparable episodes elsewhere in crypto have shown that missed deadlines for asset withdrawal or migration can mean permanent loss of access, which puts pressure on Harmony to communicate clear steps and timing well before the September 2026 cutoff. The company has not detailed, in the material available, exactly how the token conversion will be executed, what smart-contract mechanism will govern the swap, or whether any snapshot date will determine eligibility.
Details remain thin on how the AI video economy business will be structured, funded, or governed once the underlying blockchain is retired, and it is not yet clear whether Harmony's existing validator set, developer tools, or ecosystem partners will have any role in the post-migration entity. Two sources have so far covered the announcement, and further specifics — including a formal governance vote, a technical migration contract, or a timeline for the AI video product itself — are still to be confirmed.