According to Odaily Planet Daily, Eden Network announced on the X platform that Archer DAO was established in 2020 with the goal of creating a new revenue stream for Ethereum miners by realizing profits in MEV (Miner Extractable Value). In July 2021, the Archer DAO community passed a governance proposal to upgrade the project and rename it to Eden Network. Due to fierce competition in the MEV space and high operating costs, after careful consideration and consultation with community members, Eden Network announced the closure of operations, with the immediate discontinuation of products such as Eden RPC, Eden Bundles, and Mempool Stream.

Eden Network currently holds 2,000 ETH and will distribute it to EDEN holders at a fixed exchange rate of 0.00001506 ETH/EDEN. Redemption is open from now until 23:59 (UTC) on September 30th. Participation is limited to non-US residents. Users with unstaked tokens are advised to redeem and release their stakes promptly. Any remaining funds will be used for company liquidation.