Huoshan Finance reports that Harmony has proposed two initiatives to fully shut down its mainnet, which has been live since 2019, migrate the native token ONE to Ethereum, and pivot to an AI-powered video "mashup economy" business. The team cites threats from nation-state actors and AI agents as the rationale for the network shutdown plan. Under the migration proposal, a snapshot will be taken at the network’s final block of user wallets, staking delegations, validator rewards, smart contracts, and tokens held on centralized exchanges. New ONE tokens will be airdropped to the same wallet addresses on Ethereum, requiring no action from holders; staked delegations and unclaimed rewards will be airdropped to their respective governance treasuries. The total supply and inflation rate of ONE will remain unchanged, with newly issued tokens allocated to fund the new business, while gathering feedback from governance participants. Multisig wallets, liquidity pools, and on-chain applications cannot be migrated; the team urges users to exit all smart contracts before September 10, 2026, and plans to publicly release the token contract, snapshot calculations, and airdrop scripts for audit. Validators may cease operating their nodes starting at 22:00 Beijing time on September 10. The team intends to compensate validators for the inflation reward gap between node shutdown and the final block, establishing a one-time compensation pool of $1.372 million to be distributed over four quarters to validators and their delegators who shut down on time, sign agreements, maintain their stakes, and participate as governors in the new project. The new business will open prompts and source materials for user-driven remixing, with AI agents expanding video narratives, and will recruit operators responsible for video generation, distribution, and content moderation. Harmony plans to subsidize GPU hardware and stimulate video generation demand in the first year; operators must stake tokens and earn rewards based on uptime. The team aims to help operators earn up to $1 million in total revenue during the first year, provided they meet staking and uptime requirements. Early promoters will receive a 30% ongoing commission from monthly $10 subscriptions of users they refer. Both proposals are non-binding and subject to potential adjustment.
Harmony to Shut Down Mainnet, Migrate ONE to Ethereum, and Shift to AI Video Editing
MarsBitShare
Summary
Harmony is shutting down its mainnet, launched in 2019, and will migrate its native ONE token to Ethereum, according to Ethereum news sources such as MarsBit. The project will also shift its focus to an AI video editing platform, allowing users to remix content and earn rewards through staking. A snapshot will airdrop new ONE tokens on Ethereum to existing wallets, preserving the total supply and issuance rates. The new business will utilize newly allocated tokens. Validators can cease running nodes by September 10, 2026, with a $1.372 million pool to be distributed across four quarters. This move aligns with current AI + crypto trends, as projects increasingly adopt hybrid models.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.