- KuCoin announced on October 14, 2026 that it has completed the migration of Harmony’s native token, ONE, from the Harmony Mainnet to Ethereum as an ERC-20 token
- The migration converts ONE at a 1:1 ratio, and KuCoin has enabled deposits and withdrawals for the new Ethereum-based version while discontinuing support for the token on the original Harmony Mainnet
- The new ERC-20 contract for ONE is deployed at address 0xff74317e948695297acb79cb2de06111f5cc16b3, which KuCoin linked directly to Etherscan for verification
KuCoin confirmed on October 14, 2026 that it had completed migrating Harmony’s native token, ONE, away from the project’s own Harmony Mainnet blockchain and onto Ethereum, where it now exists as a standard ERC-20 token. The exchange’s announcement framed the migration as already finished rather than upcoming, meaning users holding ONE on KuCoin were moved onto the new token standard as part of the update rather than needing to take any action themselves to initiate the switch.
The conversion between the old Harmony Mainnet version of ONE and the new Ethereum-based ERC-20 token happens at a straightforward 1:1 ratio, meaning holders receive the same quantity of tokens on the new network that they held on the old one, without any dilution or adjustment to their balance. KuCoin’s notice directed users to Harmony’s own migration progress updates on X for further background on the project’s reasoning, though the exchange’s own announcement did not independently explain why Harmony chose to abandon its native mainnet in favor of operating as a token on Ethereum instead.
As part of the switch, KuCoin has enabled deposits and withdrawals for ONE specifically on the Ethereum network, while simultaneously ending support for ONE deposits and withdrawals on the original Harmony Mainnet entirely. The exchange explicitly warned users to double check which network they are using before depositing ONE going forward, cautioning that sending the token over the now-unsupported Harmony Mainnet could result in lost funds, since the exchange’s systems are configured to expect the Ethereum version only.
Harmony originally launched as its own independent Layer 1 blockchain, using a sharded architecture that the project positioned as a way to achieve high transaction throughput and low fees compared to blockchains without sharding. A project abandoning its own independently operated mainnet in favor of becoming a token on a larger, more established network like Ethereum is a significant strategic shift, one that typically reflects either difficulty sustaining independent validator and infrastructure costs, a desire to tap into Ethereum’s larger developer and liquidity ecosystem, or some combination of both factors.
KuCoin published the new ERC-20 contract address for ONE, 0xff74317e948695297acb79cb2de06111f5cc16b3, linking directly to the token’s listing on Etherscan so users can independently verify the contract before interacting with it, a standard precaution exchanges take when migrating a token to help users avoid interacting with scam or copycat contracts that sometimes appear during legitimate migrations. The announcement, published on KuCoin’s official notice board, did not specify a deadline for the migration or whether support for the old Harmony Mainnet token would be permanently discontinued across the rest of the industry.
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