💡News Eden Network has announced its cessation of operations due to intense competition in the MEV space and high operational costs. It will distribute the 2000 #ETH it holds at a fixed exchange rate of 0.00001506 #ETH / #EDEN to EDEN holders. The exchange will be open from today until September 30 at 23:59 (UTC), limited to non-U.S. residents, with remaining funds used for company liquidation.
Archer DAO was launched in 2020 on a mission to create a new revenue stream for Ethereum miners through realizing profits from MEV. In 2021, as EIP-1559 was enacted and greatly impacted miners' revenue potential, the mission evolved into Eden Network to continue to support miners while also protecting users from the negative externalities of MEV. At its peak, Eden’s miner partnerships represented over 50% of the hashrate, and thousands of transactions funnelled through its MEV protection RPC daily. Post-Merge, Eden Network became an MEV-Boost relay operator, achieving the highest average block reward amongst all relays at its peak. However, over time, the relay and block building space became extremely competitive and expensive to operate, with only a small handful of operators able to turn a profit. Despite early momentum and success, Eden was unable to maintain its position in the more mature MEV landscape. After careful consideration and consultation with community members, a difficult decision has been made to retire Eden Network. There is consensus among those consulted that this is the right course of action given the circumstances. Effectively immediately, the following products are no longer operational: Eden RPC + Eden Rocket RPC Suggested Alternative: Flashbots Protect Eden Bundles Suggested Alternative: Flashbots Bundles Mempool Stream Suggested Alternative: Blocknative Mempool Explorer Tx Explain Suggested Alternative: ChatGPT, Grok and Claude have reasonable EVM transaction reading capabilities Eden Public Data Suggested Alternative: Flashbots MEV-Share and Mempool Dumpster are two of the main data sources 0xProtect Suggested Alternative: Use the OFAC sanctions list directly Last year, Eden Relay was transferred to Gattaca. Read more about that at: EDEN Token Retirement Program (Swap for ETH) As operations cease, Eden Network still holds a treasury of 2,000 ETH, of which 100% will be distributed to EDEN holders through the token retirement program. The program begins now and closes on September 30 at 23:59 UTC. The fixed exchange rate is 0.00001506 ETH per EDEN (~66,401 EDEN = 1 ETH). Only the current circulating supply of ~132,800,000 EDEN is eligible for the retirement program. All tokens currently held in the treasury and all unvested core contributor tokens have been burned. Swap your EDEN for ETH, and view the contract at: If you still have EDEN staked on the web app, unstake at: Any ETH remaining in the contract after closure of the swap window will go towards company wind down admin costs. The EDEN token retirement program is only available to non-US residents.
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