Harmony plans to shut down its main network and migrate ONE to Ethereum, transforming its AI video business

Harmony has released two proposals to shut down its mainnet that has been online since 2019, migrate its native token ONE to Ethereum, and shift towards AI video mixing and cutting services. The team claims that national level attackers and AI agent threats are the reasons for shutting down the network. The migration plan plans to take snapshots of user wallets, staking commissions, validator rewards, smart contracts, and tokens within centralized exchanges in the last block of the network. New ONE will be airdropped to the same wallet address on Ethereum, and holders do not need to actively apply for it; Entrusted pledges and unclaimed rewards will be airdropped to their respective managers' vaults. The total supply and issuance rate of ONE remain unchanged, and the newly issued tokens are intended for new business.