Eden Network Shuts Down, Treasury Distribution Planned

Eden Network, a protocol designed to mitigate the negative impacts of maximum extractable value (MEV), announced on Wednesday that it is closing its operations. With this, its core products—Eden RPC, Eden Bundles, Mempool Stream, and Tx Explain—are no longer available. Launched in 2021, Eden aimed to enhance Ethereum miners' earnings by optimizing MEV through transaction prioritization. Following Ethereum’s Merge in September 2022, it briefly gained recognition as an MEV-Boost relay operator, helping validators within the proof-of-stake framework improve transaction effectiveness and fairness in the DeFi ecosystem. However, Eden stated that the space for relays and block building became increasingly competitive and expensive, leading to profitability concerns for most operators. 'Despite initial success, Eden could not sustain its position in the more developed MEV market,' the network explained. 'After thoughtful consideration and discussions with community members, we've decided to retire Eden Network.' As part of this retirement initiative, Eden will distribute its treasury of 2,000 ETH to EDEN token holders. This distribution, available exclusively to non-U.S. residents, will continue until September 30, at a fixed rate of 0.00001506 ETH per EDEN token. Only the currently circulating supply of approximately 132,800,000 EDEN tokens qualifies for the retirement program, while all treasury-held and unvested core contributor tokens have been burned.