BlockBeats reports that on August 13, Eden Network announced, "Archer DAO was established in 2020 with the goal of creating new revenue sources for Ethereum miners by realizing MEV (Miner Extractable Value) profits. In July 2021, the Archer DAO community upgraded the project and renamed it Eden Network through a governance proposal. Due to intense competition in the MEV space and high operating costs, after careful consideration and consultation with community members, Eden Network announced the cessation of operations. Products such as Eden RPC, Eden Bundles, and Mempool Stream will cease service immediately.
Eden Network currently holds 2,000 ETH, which will be distributed to EDEN holders at a fixed exchange rate of 0.00001506 ETH/EDEN. The redemption will be open from now until September 30 at 23:59 (UTC), limited to non-U.S. residents. Users with unstaked tokens are advised to redeem and un-stake in a timely manner. Remaining funds will be used for company liquidation.
