Harmony
ONE
Evaluation Score
Overall rating on a scale of 0-10
Dimension Breakdown
AI Analysis
Comprehensive evaluation of the token
Harmony (ONE) maintains active development on its core Layer-1 repository, but the project has been fundamentally crippled by severe security and operational failures. In August 2026, the network suffered a catastrophic consensus-layer exploit: "Roughly 4 billion ONE tokens (~26% of total supply) were minted without authorization by exploiting the Layer-1 consensus code responsible for producing blocks and minting tokens; roughly 2.8B of the minted tokens were subsequently moved." This follows the earlier June 2022 Horizon bridge exploit that drained ~$100 million. These incidents have severely damaged tokenomics credibility, shattered the max supply cap, diminished community engagement, and reduced network usage to distressed levels.
Development Activity
Code updates and developer engagement
Community Support
Social media presence and community engagement
Tokenomics
Supply, distribution, and utility
Market & Use Case
Value proposition and competitive landscape
Team & Governance
Team background and project governance
Security & Audits
Security history and audit status
About Harmony (ONE)
Harmony (ONE) is a Layer-1 sharded blockchain network founded by Stephen Tse. The ONE token functions as the native asset of the network, utilized for transaction fee payments, network staking, and protocol governance through Harmony Improvement Proposals (HIPs). The project was designed to offer scalable smart contract infrastructure via sharding architecture, maintaining ongoing open-source development and release updates on its core code repository.
The tokenomics of ONE were structured around a nominal supply cap of approximately 14 billion tokens, with initial token vesting concluding in late 2022. However, the project trades in micro-cap territory following a price decline of over 99% from its all-time high. Diminished network activity has left fee-burning mechanisms largely inactive, while community engagement has decreased substantially and shifted primarily toward support requests.
Harmony's operational history has been severely impacted by two major security breaches resulting in approximately $100.2 million in documented losses. On June 23, 2022, attackers exploited the Horizon cross-chain bridge to drain approximately $100 million due to administrative key-management vulnerabilities. In August 2026, the network experienced a consensus-layer exploit in which approximately 4 billion ONE tokens (representing roughly 26% of the total supply and valued at around $3.2 million) were minted without authorization, with roughly 2.8 billion moved. This supply-cap breach triggered an immediate 37% price crash and raised remediation uncertainties regarding potential ledger rollbacks.