Eden Network
A priority transaction network that protects traders from MEV, commoditizes priority block space, and aligns incentives for block producers
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Eden is a priority transaction network that protects traders from frontrunning, aligns incentives for block producers, and redistributes miner extractable value.
Eden Network is a priority transaction network that protects Ethereum traders from malicious MEV and arbitrary reordering. In technical terms, Eden Network is an optional, non-consensus breaking ordering protocol. The protocol creates a transparent and fair set of rules to order transactions within each block.
Eden Network takes a user-focused approach to the MEV problem, and includes stronger incentives for all stakeholders driven by a protocol token. It comprises a novel transaction ordering mechanism and a private relayer that any user, application, or bot can leverage in order to obtain state guarantees around submitted transactions.
The goals of the Eden Network are:
- Improve earnings for block producers and increase consensus-level security
- Protect users from malicious MEV (frontrunning, sandwich attacks, etc.) and reduce the negative externalities MEV has on Ethereum
- Tokenize MEV, and democratize access to it using network token incentives
What utility does the EDEN token serve?
Functionally, EDEN is the unit used to conduct the continuous auction for priority blockspace, and provides users access to Eden Network.
Who can participate in Eden Network?
Eden Network respects the ethos and ideology Ethereum was built on.
Eden Network is designed to serve applications, Traders and Block producers.
Applications, Bots, and Funds can stake EDEN to become “slot tenants” and rent priority blockspace in order to provide state guarantees and best execution to their users.
Traders can buy and stake EDEN to gain access to Eden Network, where their transactions are processed privately.
Block Producers can participate in EDEN network by ordering transactions as per the rules of the network, and receive EDEN tokens in order to augment their revenues.
February 8, 2022
The Multi-Chain of Madness
Eden Network was introduced to the world on August 4, 2021 alongside EIP-1559
The high profile nature of the launch, its speed of adoption and network utility meant for many users, it was the first time peeling back the curtain to see what happens behind the scenes of transaction execution.
Eden Network is driven by a user-centric approach, specialising in developing core blockchain infrastructure tooling, with a track record in leading scalable and secure infrastructure for the benefit of the end user.
A look at the history of Eden Network
November 2, 2020 — Archer DAO launches, with the goal of creating sustainable miner revenue and strengthening the Ethereum ecosystem
One of Archer’s products, ArcherSwap, was used by Vitalik
August 4, 2021 — Archer rebrands to Eden Network, expanding its product and infrastructure tooling while maintaining the original core team
Shortly after launch, Eden Network closed a funding round led by Multicoin Capital; with Alameda Research, Wintermute, Andre Cronje and others joining the round
Eden Network provided users private transactions to protect them from MEV bots and sandwich attacks, which cost traders ~$250M in 2021
A custom geth client was built and maintained and, at its peak, was adopted by over 50% of the Ethereum hashrate
As Eden’s user base continues to grow, users continue to benefit from our next generation transaction services — secure private transactions and block ordering options through custom-built infrastructure
Expanding from Proof of Work (PoW) to Proof of Stake (PoS)
2021 saw incredible user growth on multiple PoS blockchains with billions in TVL flowing in, while Ethereum saw some cannibalisation of its user base migrating towards these blockchains.
With ‘The Merge’ on the horizon, where Ethereum finally moves from PoW to PoS, the future is very clear — validators are in; miners are out. The multi-chain thesis will continue to flourish, and Eden Network will embrace and expand with it.
This opens the door for Eden to help more users, launch new PoS products, create core infrastructure tooling that drives stakeholder value, and port over existing products; giving access to Eden tools on multiple chains.
Through R&D efforts on existing PoS chains, the team will gain unique, strategic insight into operation and innovation on PoS systems, which they will carry over to the Ethereum Consensus Layer and its need for product innovation and key infrastructure tooling post Merge.
Eden Network’s Multi-Chain Strategy
With our expertise in developing core infrastructure tooling, Eden Network is perfectly placed to assist DeFi protocols with optimising their infrastructure to meet the most common protocol goals and metrics, which are typically aligned across the board:
User growth
TVL
Competitive yield
Security
Developer migration to aid innovation and ecosystem longevity
On the inverse, DeFi users generally look for:
Highest yield
High TVL as a signifier of trust and security
Good UX
Growth potential
We have identified a common theme amongst DeFi protocols across all L1s — lack of yield generation optimisation. To succeed here would create a flywheel effect of increasing TVL, security and ultimately acquiring more users. With increased traction comes developer mindshare, and the potential for future-proofing the blockchain. Protocol and user goals all met at once.
How we plan to achieve this will be the topic for a future blog post.
Eden Network builds and delivers what protocols and DeFi users want and need.
An ambitious scope, multiple ecosystems to befriend, complicated problems to solve
Eden Network will begin its multi-chain expansion by entering the liquid staking ecosystem. We are in the final stages of developing the tech and completing partnership deals so we can launch with a bang. We are not quite ready to let the cat out of the bag about where we will launch and with whom, but we couldn’t be more excited about this launch and the future.
If you are unfamiliar with liquid staking, you can read an overview here, but we will also publish our own articles covering the ecosystem and our approach to it.
This is the beginning of an ambitious expansion, both from a strategic and product point of view. Our user-first ethos remains the same, and we are committed to collaborating with multiple blockchains and protocols on any part of their infrastructure stack where this ethos is unimpaired.
Cliff notes: Eden Network is embracing a multi-chain future by collaborating with strategic partners to deliver better blockchain security, higher yield opportunities, increased TVL and overall better building opportunities for developers.
Join us on Discord to follow the journey.
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