Harmony has proposed sunsetting its Layer 1 blockchain entirely and migrating its native ONE token to the Ethereum network. The move is framed around a new AI video remix economy, positioning the project to serve content creators rather than operate independent chain infrastructure. The proposal has not been finalized, and no migration date has been confirmed.
Abandoning a Layer 1 chain is a significant retreat for any crypto project, and it signals that Harmony's leadership no longer believes independent chain operation is viable. ONE token holders face migration risk and uncertainty about whether the new Ethereum-based version carries the same utility or value. This is a narrow event with little spillover to broader crypto markets, but it is directly material for anyone holding ONE.
No confirmed governance vote date yet. Watch for an official Harmony community vote announcement, and monitor the ONE/USD price around any governance update.
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