Harmony Sets September 10 Deadline for DeFi Users

The upcoming deadline marks the first phase of Harmony’s transition away from its Layer 1 network, which it launched in 2019. While tokens held in personal wallets or on centralized exchanges will be captured in a final blockchain snapshot for an automatic airdrop on Ethereum, funds locked in decentralized finance protocols remain at risk. Because the snapshot cannot replicate the internal logic, ownership rules, or state-dependent functions of smart contracts, users must manually interact with protocols to reclaim their assets before the cutoff.

Migration and Validator Compensation

The project intends to recreate ONE as an ERC-20 token on Ethereum, maintaining the original supply and emission schedule. While the team plans to publish the snapshot calculations and airdrop scripts for public review, the exact timing of the final block remains unannounced. Alongside the user migration, the network’s validator transition begins on September 10. Harmony has earmarked $1.372 million to compensate validators and delegators who agree to shut down their nodes, sign transition agreements, and maintain their stakes during the final months of the network's operation. This shift follows a series of security setbacks, including a massive August exploit that saw trillions of unauthorized tokens generated, forcing the project to seek a more secure foundation under the Ethereum umbrella.