The MEV-focused project Eden Network has announced its closure due to the rising competition within the ecosystem.
Eden Network Shutdown
Eden Network has announced its decision to cease operations, citing an inability to compete in a more mature and challenging MEV ecosystem. This closure will end core services including Eden RPC, Eden Bundles, Mempool Stream, and Tx Explain.
Returning Funds to Holders
As part of its closure plan, Eden Network will distribute its remaining 2,000 ETH treasury to EDEN holders through a fixed-rate buyback at 0.00001506 ETH per token. The redemption process, open exclusively to non-U.S. residents, runs until September 30 at 23:59 UTC. Holders with unstaked tokens are urged to complete the process promptly, as any unclaimed funds will go toward company liquidation.
Market Reaction to Closure
Despite the shutdown announcement, the price of the EDEN token surged by 73% in the past 24 hours. This unexpected rally has led many traders to speculate on short-term market dynamics rather than the long-term fate of the project.
The closure of Eden Network highlights the shifts in the competitive MEV ecosystem, while the sudden increase in EDEN's price may reflect speculative sentiments among investors.
