Harmony's Layer 1 blockchain is set for a full sunset under a proposal the network has put forward, with its token earmarked for migration to Ethereum ($ETH). The move reorients Harmony around what it calls a "remix economy" built for AI video creators.
The proposal uses the word "fully." A full shutdown means the existing chain stops operating, not that it winds down alongside a new structure. Validators currently securing Harmony's Layer 1 have no path to continue on that network if the proposal is adopted. Harmony addressed this directly, saying it would assist the validator set in transitioning to the new initiative.
Migrating to $ETH's base layer removes Harmony's own chain from the token's settlement mechanics entirely. Whatever utility or participation structure the remix economy assigns to the migrated token will be built on Ethereum, not on Harmony's infrastructure.
The remix economy concept positions AI video creators as the network's primary constituency going forward. Harmony has proposed building the initiative on Ethereum rather than on a rebuilt or upgraded version of its own chain. How validators participate in the new structure, and what role the migrated token plays inside it, remain to be specified as the proposal develops.