Overview
- Harmony published a non‑binding proposal on Sunday that would take a final snapshot of the mainnet and airdrop equivalent ERC‑20 ONE tokens to the same wallet addresses on Ethereum.
- The snapshot process would record wallet balances, staking delegations, validator rewards, smart contract states, and exchange custody balances so holders would not need to file claims for the new tokens.
- Users have been urged to exit multisignature safes, liquidity pools and other smart contracts before September 10 because those assets cannot be migrated by the snapshot.
- Eligible validators can begin shutting down nodes from September 10 and may claim part of a roughly $1.372 million compensation pool if they meet conditions and keep their stakes for governance duties.
- The proposal must pass Harmony’s governance rules, which require broad participation and a two‑thirds approval threshold, and the team says it plans to redeploy protocol resources into an AI video “remix” business if the migration is approved.