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Eden Network has announced the cessation of its operations and the distribution of its held 2000 ETH to EDEN holders.
BlockBeats News, August 13th, Eden Network posted an announcement stating, "Archer DAO was founded in 2020 with the aim of creating a new revenue stream for Ethereum miners by capturing MEV (Miner Extractable Value) profits. In July 2021, the Archer DAO community passed a governance proposal to upgrade the project and rebrand it as Eden Network. Due to intense competition in the MEV space and high operating costs, after careful consideration and consultation with community members, Eden Network has announced the cessation of its operations, with immediate effect on services such as Eden RPC, Eden Bundles, Mempool Stream, etc."
Eden Network currently holds 2,000 ETH, which will be distributed to EDEN token holders at a fixed rate of 0.00001506 ETH/EDEN. The redemption will be open from today until September 30th, 23:59 (UTC), limited to non-U.S. residents. Token holders who have not staked their tokens are advised to redeem them promptly and unstake, with the remaining funds to be used for company liquidation."
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