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first_img Harmony proposed to shut down the blockchain and migrate the ONE token to Ethereum

The Layer 1 blockchain Harmony, once a major competitor to Ethereum, proposed to shut down its mainnet on Sunday, citing threats from AI entities and nation-state actors as too severe. The Harmony team stated on X that since the mainnet launched in 2019, the community has experienced multiple attacks and transformations, and now it is time to completely discontinue the Harmony network. To mitigate the threats, the team proposed migrating the ONE token to Ethereum and redirecting the issuance of newly minted tokens to its new initiative "The Remix Economy for AI Video."According to the proposal, the migration will determine the allocation of alternative tokens received by each holder on Ethereum based on the ONE balance recorded at the final block of the network (i.e., a snapshot), covering wallets, staked tokens, validator rewards, smart contracts, and centralized exchanges. The alternative tokens will be airdropped to the same wallet address on Ethereum, and exchanges will also migrate to the new tokens. Although the proposal states that holders do not need to submit a claim, multi-signature vaults, liquidity pools, and on-chain applications cannot be migrated, and users are urged to exit all smart contracts by September 10, 2026. Harmony also proposed to pay eligible validators and their delegators in four installments from a pool of $1.372 million, provided that validators maintain their stakes, sign agreements, and serve governance roles.This migration proposal is the latest case of blockchain networks facing increased scrutiny due to attacks. In August of this year, Harmony confirmed it was attacked, with the attackers creating approximately 4 billion unauthorized ONE tokens, prompting the team to release a patch and consider a rollback.

The Wall Street Journal: Former U.S. President Biden's son plans to launch the meme coin LAPTOP

According to the Wall Street Journal, Hunter Biden, the son of former U.S. President Joe Biden, will launch a meme coin named LAPTOP, named after his laptop incident, scheduled to go live on the Base network under Coinbase on September 9.The founding team of the project, including Hunter Biden, will hold 30% of the total token supply (1 billion tokens), with that portion locked for 6 months and fully unlocked over two years; another 20% of the tokens will be airdropped in two batches to users who previously lost money on the Trump meme coin TRUMP, Hunter Biden's Substack subscribers and their friends, and users on the mailing list maintained by video journalist Andrew Callaghan; the remaining 20% will be used for charitable donations, liquidity, and distribution to exchange partners and market makers, as well as covering the accounting, legal, administrative, and compliance costs of the token foundation.It is reported that the founding team has also agreed on a destruction mechanism that includes 30 preset events; if the relevant events achieve the preset results within the designated time (such as the Democratic Party winning the 2028 presidential election, Bitcoin reaching a new historical high, LAPTOP's fully diluted valuation exceeding TRUMP, etc.), up to 30% of the token supply may be destroyed; if not achieved, the tokens will be donated to charitable organizations proportionally.The report notes that Hunter Biden has recently been frequently participating in podcasts, news programs, and writing Substack articles discussing his views on cryptocurrency, and has commented on the controversy between the Trump family's crypto project World Liberty Financial and Sun Yuchen.

first_img Ethereum will include Frame Transactions in the 2027 upgrade, allowing users to pay Gas without holding ETH

According to CoinDesk, Ethereum core developers have included EIP-8141 (Frame Transactions) in the 2027 Hegotá upgrade plan. During the core developer call on August 27, the proposal was marked as "Scheduled for Inclusion," meaning it will become part of the network update rather than just a candidate proposal. Ethereum co-founder Vitalik Buterin, one of the ten authors of the proposal, stated on X on Sunday night that Frames have made significant progress in the past few months.Frames aim to address the issue where users hold stablecoins but cannot transfer them due to a lack of ETH. It splits transactions into independent steps such as authorization verification, fee payment, and instruction execution, allowing the sender and payer accounts to no longer have to be the same. For example, payment applications can cover fees themselves or settle ETH bills on behalf of users after collecting stablecoins, while the Ethereum network still prices in ETH, and users do not need to purchase ETH. Unlike existing wallet solutions that rely on third-party services, Frames will achieve this capability through the standard Ethereum transaction process.Additionally, Frames will bundle operations that need to be executed simultaneously, such as authorization and submission in token transactions, with authorization being revoked if the transaction fails; it also allows accounts to customize transaction approval rules, enabling the replacement of private keys or the adoption of quantum-resistant keys without needing to migrate funds to a new address. Currently, the specification is still a draft, and details may be adjusted before the Hegotá upgrade, with users unable to use Frames yet.
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