This proposal is expected to appear on Snapshot for voting on Monday 22, August 2021 at 12:00 pm UTC.
- Proposal to whitelist EDEN
- Co-investment limit of 250,000 BNT
For: add EDEN to Bancor whitelisted tokens
Against: do not add EDEN to Bancor whitelisted tokens
Token Address: EdenToken | 0x1559fa1b8f28238fd5d76d9f434ad86fd20d1559
Project Website: https://www.edennetwork.io/
Eden is a priority transaction network that protects traders from frontrunning, aligns incentives for block producers, and redistributes miner extractable value.
The broad aims of the network are to:
- Protect users from malicious MEV (frontrunning, sandwich attacks, etc.) and reduce the
negative externalities MEV has on Ethereum
- Improve earnings for block producers and increase consensus-level security against block
- Tokenize access to MEV, and redistribute value to network stakeholders
Traders - stake EDEN to gain access to Eden RPC to protect and prioritize their transactions. The more EDEN staked, the better block positioning traders secure.
Slot tenants - bid EDEN to secure prime block space within Ethereum blocks which is then burnt. There are three slots on a perpetual auction system.
Block producers - rewarded in EDEN for mining Eden Network blocks. In return they provide priority block space for Traders and Slot Tenants.
Liquidity providers - get EDEN rewards in return for providing liquidity. Eden Network allocates a portion of newly minted EDEN for LP incentives.
Daily trading volume as of 20 August 2021 is 18,470,720 - 95% of liquidity is on SushiSwap.
Bancor has tried the services of Eden Network and is satisfied with the delivery. The tweet below shows Bancor and SushiSwap giving their users the top Ethereum block space utilising Eden Network.
Eden Network is a working partner with Bancor on MEV protection
Eden Network is currently processing ~50% of the Ethereum hashrate - almost 1 in 2 blocks on Ethereum are now Eden blocks.