Harmony will shut down the blockchain it launched in 2019 and migrate its native token, Harmony (ONE), to Ethereum as a new ERC-20 asset. The team cited threats from state actors and AI agents as the reason for the shutdown. In August, an exploit minted roughly 4 billion ONE, about 26% of the total supply, sending the token to a record low of $0.0005735. ONE holders do not need to take any action: Harmony will snapshot balances at the final block and airdrop the new tokens to the same addresses on Ethereum. The market value of ONE now stands near $11 million, placing it outside the top 1,000 tokens by market cap.
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