Harmony plans to retire its blockchain, migrate ONE token to Ethereum, and launch a new AI video project.

Harmony proposes retiring its seven-year-old layer-1 blockchain and migrating its ONE token to Ethereum as an ERC-20 token after a final network snapshot. Users must exit smart contracts by Sept. 10, and validators can begin shutting down nodes with compensation from a $1.372 million pool. This move follows a major security exploit in August involving forged ONE tokens. After retirement, Harmony aims to shift focus to a new AI video remix economy, offering validators roles in governance or the new project. The proposal is non-binding and subject to governance approval.