Don’t read “chain closure” as “token zeroing out”: Harmony proposes shutting down its own Layer-1 and moving $ONE to Ethereum.
According to reports from Cointelegraph, Lookonchain, and others, on Sunday Harmony proposed a non-binding plan: take the final network snapshot on-chain, issue an ERC-20 version of $ONE on Ethereum, and airdrop it to the same addresses (no action required to claim); exchanges will list and support the migration in tandem. Validators may opt to shut down their nodes, continue acting as governance participants, or join its new business of AI video secondary creation. Governance still requires participation with about 51% staked voting weight and about 66.7% approval—this proposal does not equal a completed shutdown, nor does it mean the migration has already been finished.
The boundaries are even more critical: multisig insurance vaults, liquidity pools, and on-chain applications cannot be migrated. Official guidance urges users to exit all smart contracts by September 10, otherwise assets could get stuck. Validators may shut down nodes starting from that day, perform the shutdown on time while keeping their stake, and those who agree to become governance representatives will receive a compensation pool of about $1.372 million, distributed across four quarters. The backdrop includes a forged-token vulnerability about four weeks ago, and a plan to roll back more than 109,000 transactions—an unmistakable signal of shifting from “patching the chain” to “shutting down the chain.” Market reference (CoinGecko): $BTC is about $79,400; $BNB is about $744. First watch the snapshot time and exchange migration announcements—don’t confuse a “proposal” with “completion.”
#Harmony #以太坊 # cryptocurrency
Not investment advice
According to reports from Cointelegraph, Lookonchain, and others, on Sunday Harmony proposed a non-binding plan: take the final network snapshot on-chain, issue an ERC-20 version of $ONE on Ethereum, and airdrop it to the same addresses (no action required to claim); exchanges will list and support the migration in tandem. Validators may opt to shut down their nodes, continue acting as governance participants, or join its new business of AI video secondary creation. Governance still requires participation with about 51% staked voting weight and about 66.7% approval—this proposal does not equal a completed shutdown, nor does it mean the migration has already been finished.
The boundaries are even more critical: multisig insurance vaults, liquidity pools, and on-chain applications cannot be migrated. Official guidance urges users to exit all smart contracts by September 10, otherwise assets could get stuck. Validators may shut down nodes starting from that day, perform the shutdown on time while keeping their stake, and those who agree to become governance representatives will receive a compensation pool of about $1.372 million, distributed across four quarters. The backdrop includes a forged-token vulnerability about four weeks ago, and a plan to roll back more than 109,000 transactions—an unmistakable signal of shifting from “patching the chain” to “shutting down the chain.” Market reference (CoinGecko): $BTC is about $79,400; $BNB is about $744. First watch the snapshot time and exchange migration announcements—don’t confuse a “proposal” with “completion.”
#Harmony #以太坊 # cryptocurrency
Not investment advice
