Eden Network, an MEV protocol, announced the shutdown of its services due to operational challenges. This decision was made after consultations with community members.
Reasons for Eden Network Closure
According to the Eden Network team, despite early momentum and success, the project has been unable to maintain its position in the more mature MEV landscape. After careful consideration and consultation with community members, the difficult decision has been made to shut down Eden Network.
Funds Return to Token Holders
The team announced that services have officially ended and the entire treasury of 2,000 Ethereum (ETH) will be distributed to EDEN holders as part of the token retirement program. The buyback will be open from today until 23:59 UTC on September 30th and is only available to non-US residents.
Unexpected Price Increase of EDEN Token
While Eden Network announced its decision to shut down, its native token, EDEN, surprisingly gained 73% in value in the last 24 hours.
The closure of Eden Network marks a significant event for the community, which is simultaneously witnessing a surge in EDEN token prices, raising questions about the future of this asset.
