Overview
- Harmony published the non-binding proposal on Sunday, Sept. 6, to take a final network snapshot and airdrop newly issued ERC-20 ONE on Ethereum to the same wallet addresses recorded at the final block.
- The project has told users to exit smart contracts before Sept. 10 because multisig safes, decentralized exchange liquidity pools and many on‑chain applications cannot be migrated automatically.
- Validators may begin shutting down nodes from Sept. 10 and eligible validators and their delegators who comply and sign agreements can share a $1.372 million compensation pool paid in quarterly installments.
- The proposal follows an August exploit in which a flaw in cross‑shard receipt verification allowed duplicate processing and the creation of roughly 3+ trillion unauthorized ONE, after which Harmony rolled back the chain and removed more than 109,000 transactions.
- Key details remain unresolved: the plan must meet validator-led governance thresholds to become binding, Harmony has not fixed a final block date, and it would direct future ONE emissions toward a proposed AI video “remix economy.”