Harmony shuts its Layer 1 and migrates ONE to Ethereum

3 min

ETH trades near $2,508, up 0.05%, as Harmony proposes shutting its independent chain and migrating ONE to Ethereum as an ERC-20. The plan: a final chain snapshot, automatic airdrop to matching wallet addresses on Ethereum, and a hard migration deadline that could expose holders who miss it.

Harmony migration: scope, process, deadlines

Migration mechanism: record all ONE balances at a final Harmony block, then issue equivalent ERC-20 ONE on Ethereum to the same addresses.
Coverage: wallets, staking delegations, validator rewards, smart contracts, and exchange balances. No manual claims required.
Exclusions: multisig safes, liquidity pools, and on-chain applications cannot be migrated. Users are urged to exit all Harmony smart contracts by September 10, 2026.
Context: follows an August 12 exploit where nearly 4 billion unauthorized ONE were allegedly minted, about 26% of total supply. Harmony cites rising threats from state-sponsored attackers and AI agents, aligning with broader protocol security concerns that Ethereum has addressed across validator and contract layers.

Harmony vừa đề xuất đóng Layer 1, chuyển ONE sang Ethereum và dồn nguồn lực sang AI video chỉ vài tuần sau vụ hack hơn 3 nghìn tỷ ONE. Theo kế hoạch, blockchain sẽ chốt số dư rồi đổi ONE thành token ERC-20, còn validator có thể chuyển sang vai trò AI operator.… https://t.co/EVacOo1Nlj pic.twitter.com/7il78YetTN

— Faustino (@77bncvbsdcg) September 7, 2026

Ethereum market structure

Price: $2,508. Intraday range: $2,492.26–$2,534.08. 24-hour volume near $11B on Coingecko: active trading, not extreme. ETH entered September at $2,452 after printing a higher high for the current cycle, preserving a medium-term bullish tilt.

ETHUSDT Chart 1D TradingView

Support: low $2,400s near the recent higher low.
Resistance: mid-$2,500s, then $2,700–$3,000.
Bull case: break above $2,534 points toward $2,700.
Base case: consolidation between $2,450 and $2,534 while markets digest Harmony-related flows.
Bear case: loss of $2,400 invalidates the higher-low structure.

Broader context

Post-Merge Ethereum increasingly serves as a security anchor for smaller chains seeking consolidation under its validator and execution environment.
Harmony’s shift reinforces a trend of L1s folding into Ethereum to leverage its security, despite the operational risk of hard migration deadlines and non-migratable contract states.