Harmony Moves to Close Its Layer‑1 and Shift ONE Toward Ethereum
Altcoins
Harmony proposed shutting down its layer-1 blockchain and migrating the ONE token to Ethereum as an ERC-20, seven years after its mainnet launch. An exploit in August allowed the minting of nearly 4 billion unauthorized ONE tokens, equivalent to 26% of the supply, which accelerated the decision. Validators will receive a $1.
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ONE
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