Ethereum-compatible layer-1 network Harmony proposed sunsetting its blockchain and migrating its native ONE token to Ethereum, seven years after launching its mainnet. 

On Sunday, Harmony proposed taking a final network snapshot, issuing ERC-20 ONE tokens on Ethereum and migrating exchange listings. Validators would be offered options to stop their nodes, continue as governors, or join its new AI-video initiative. 

Harmony described the proposal as non-binding and did not specify when the final block would be produced or whether the shutdown would be submitted to the network’s validator-led governance process. 

Under Harmony’s published governance rules, elected validators can create proposals, while unelected validators may vote,…