Harmony Proposes Sunsetting Blockchain to Pivot Toward AI Video
The Harmony network has proposed sunsetting its blockchain and migrating its native ONE token to Ethereum, according to a report by The Defiant. Holders of ONE would receive new tokens via a final block snapshot and airdrop. Token emissions would then be redirected to fund a newly proposed venture focused on AI video creation.
According to the plan, the snapshot will account for tokens held in wallets, staking delegations, validator rewards, smart contracts, and centralized exchanges. New tokens will be airdropped directly to corresponding wallet addresses on Ethereum without requiring a manual claim process. Staked amounts and unclaimed rewards will be transferred to individual governor vaults.
Harmony has established a September 10 deadline for users interacting with onchain applications. The development team noted that liquidity pools, multisig safes, and decentralized applications cannot be migrated, advising users to withdraw funds from smart contracts prior to that date. Validators may begin shutting down network nodes on the same day.
The project cited escalating security threats from state actors and autonomous artificial intelligence agents as the primary motivation for the shutdown. The team described the transition proposal as non-binding and subject to modification based on community feedback.
Following the migration, newly issued token emissions will support an AI video platform where creators can publish open prompts and digital assets for others to remix. The system intends to utilize AI agents to generate supplementary video clips from each remix iteration.
Based on reporting by thedefiant.io.
