Eden Network announces cessation of operations, will distribute its 2,000 ETH holdings to EDEN holders

According to ChainCatcher, Eden Network announced in a statement: "Archer DAO was established in 2020 with the goal of creating new revenue streams for Ethereum miners by enabling MEV (Miner Extractable Value) profits. In July 2021, the Archer DAO community passed a governance proposal to upgrade and rebrand the project as Eden Network. Due to intense competition in the MEV sector and high operating costs, after careful consideration and consultation with community members, Eden Network has decided to cease operations. Services such as Eden RPC, Eden Bundles, and Mempool Stream will be discontinued immediately."

Eden Network currently holds 2,000 ETH, which will be distributed to EDEN holders at a fixed rate of 0.00001506 ETH per EDEN. The redemption window is open from now until 23:59 (UTC) on September 30, and is limited to non-U.S. residents. Users who have not staked their tokens are advised to redeem and unstake them promptly. Remaining funds will be used for company liquidation."