- Eden Network, an Ethereum protocol that aimed to mitigate the negative effects of MEV, has announced it is winding down all of its services.
- The team stated the decision was made due to intense competition and high operating costs in the MEV-Boost relay and block-building market, which made it unsustainable for them to continue.
- As part of the shutdown, the protocol is distributing its remaining treasury of 2,000 ETH to EDEN token holders and has burned all unvested contributor tokens.
Eden Network, a protocol created to curb the negative effects of maximum extractable value (MEV), confirmed Wednesday that it is winding down completely, with all services now offline.
The shutdown covers its main products: Eden RPC, Eden Bundles, Mempool Stream, and Tx Explain, which ceased operating as soon as the announcement was made.
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The Right Course of Action
The project launched in 2021, aiming to provide Ethereum miners with an additional revenue stream by prioritising transactions to optimise MEV capture. Its design sought to balance miner incentives with fairer outcomes for users, positioning itself as a neutral layer to limit harmful MEV practices.
Eden shifted its focus to operating as an MEV-Boost relay following Ethereum’s switch to proof-of-stake in September 2022, offering validators tools to arrange transactions more efficiently and promote fairer execution in DeFi markets.
The role brought the project a brief surge in relevance, but the economics of the sector quickly turned against smaller operators. Eden stated that rising infrastructure costs and a crowded relay landscape meant profitability was largely captured by a small circle of dominant players, leaving Eden unable to compete over the long term.
“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”, the team wrote.
The shutdown will be accompanied by a complete token retirement program. Eden’s entire remaining treasury of 2.000 ETH will be distributed to EDEN token holders at a fixed rate of 0,00001506 ETH per token.
All EDEN tokens held in the treasury and all unvested allocations for core contributors have been burned as part of the closure process, the team added.
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