ChainCatcher reports that Harmony has announced two proposals, planning to fully shut down its mainnet launched in 2019, migrate its native token ONE to Ethereum, and pivot to an AI video “mashup economy” business. The team said the reason for proposing to shut down the network is the threat posed by state-level attackers and AI agents.

The migration plan intends to take a snapshot of user wallets, staking delegations, validator rewards, smart contracts, and tokens held on centralized exchanges in the network’s final block, and to airdrop the new ONE on Ethereum to the same wallet addresses. Holders will not need to claim it actively; delegated staking and unclaimed rewards will be airdropped to their respective governance treasuries. The total supply of ONE and the issuance rate will remain unchanged, and the newly issued tokens are intended for new businesses, with governance feedback to be taken into account.

Multi-signature wallets, liquidity pools, and on-chain applications cannot be migrated. The team urges users to withdraw from all smart contracts by September 10, 2026, and plans to publicly release the token contract, snapshot calculation, and airdrop scripts for audit. Validators may stop running nodes starting at 22:00 Beijing Time on September 10. The team intends to compensate the difference in inflation rewards between node shutdown and the network’s final block, and will establish a one-time compensation pool of $1.372 million to pay validators and their delegators, in four quarterly installments, for shutting down on time, signing the agreement, retaining their stake, and serving as governance participants in the new project.

The new business will open up prompts and materials for users to remix, with AI agents extending video stories, and recruit operators responsible for video generation, distribution, and content moderation. Harmony plans to subsidize GPU hardware in the first year and drive demand for video generation. Operators will need to stake tokens and earn rewards based on service uptime. Provided staking and uptime requirements are met, the team plans to help operators generate up to a combined $1 million in revenue in the first year. Promoters can initially receive a 30% ongoing commission from their referred $10-per-month subscriptions. Both proposals are non-binding, and the plans may still change.