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Eden Network: "The Garden of Eden" illuminates the dark Forest | Project introduction

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At an ethereum block height of 12,965,000, the Eden Network will officially launch.

The "dark forest" is one of the most commonplace topics on Ethereum.

That's because Ethereum is designed to place all transactions in a mempool, which is like a dark forest. Typically, miners sort the packages according to the gas fees paid by the transaction. But if a miner or arbitrageur were monitoring Mempool, they could profit by manipulating the order of trades.

For miners, they can make profits through block reorganization, trade reordering and other ways of false start, run after, sandwich attack; Non-miners have fewer tools than miners and can only attack by increasing the gas war.

According to MEV-Explore, from January 2020 to date, miners have earned 136,600 ADDITIONAL ETH (also known as maximum extractable value MEV) from their blocks through block restructuring and transaction reordering. MEV worth 6,800 ETH in last 30 days.

At present, there are three MEV extraction schemes on the market, among which Flashbots is the most widely used scheme. As of press time, 81.63% of Ethereum's computing power supports Flashbots.

Three MEV schemes

MEV's three major solutions are privacy Transactions, MEV Auction and front-running as a Service (FaaS).

The main principle of private transaction is to bypass the public mempool and put the transaction in a private mempool waiting for the miner to package it so that it cannot be broadcast to other nodes. Current privacy deals are offered by 1inch Stealth Transactions, Taichi Network and bloXroute.

Take Taichi Network as an example. It is created by Spark Pool, the second most powerful mining pool in Ethereum, and users can directly send transactions to the private mempool of Spark Pool through Taichi Network interface. The Spark pool will not broadcast this transaction over the Network. The status of this transaction cannot be viewed.

MEV Auction was proposed by Karl Floersch, CTO of Layer 2 scheme Optimism, in early 2020. In design, MEV Auction split the miners' two major powers, "transaction choice right" and "transaction sorting right". In MEV Auction, the miner only has the right to choose transactions, and the right to sort transactions is given to another character, Sequencer. Of course, MEV Auction is not a perfect solution, Sequencer evil, collusion is possible things.

FaaS, which take MEV and then redistribute the profits, is a popular solution to MEV. Flashbots is one of them. Currently, mining pools including Ethermine, Spark Pool, F2Pool, and HiveonPool all support Flashbots.

Enhanced Flashbots

At present, several projects have completed MEV by integrating Flashbots.

MistX, Alchemist's first DEX, integrates Flashbots. MistX achieves MEV resistance by bundling transactions into a private Mempool of Flashbots. For more information about mistX and how to handle an anti-MEV deal, readMistX: DEX with Flashbots and No Transaction Gas Fees | Project Introduction.

The Eden Network is also an anti-MEV Network with Flashbots, but it is more complex than a Network with just Flashbots.

The block structure of Eden Network is divided into four layers according to Transaction order: Slot Tenant, Transaction Bundle, Staked Eden, and common pool.

Participants in the first three slots of the Eden Network are called "slot tenants." In the blocks mined by Eden Network, slot tenants' deals will be at the forefront. Eden Network has partnered with 2Miners and Ezil, who own about 6% of the total power of the ethereum Network. The slot user is not fixed. The slot user pays a Harberger tax, and the EDEN paid is destroyed every day. (Details about the Harburg tax are availableClick on theReading)

Sushi is the top slot tenant of Eden Network and has been integrated with Eden Network, which means that trading in SushiSwap can be done without fear of sandwich attacks and false starts. This assumes, of course, that the block is mined from pools integrated with Eden Network.

After the slot tenant comes the Transaction bundle of Flashbots. The transaction pattern and type are almost the same as those of mistX above.

After the transaction bundle, users who pledge EDEN tokens (at least 100) get faster transactions, and the pledged tokens are not destroyed. Of course, if all belong to the pledge users, then the number of pledges will be sorted. Of course, if you don't want to speed up the transaction and just want to be MEV resistant, you can also set the Eden RPC in the MetaMask wallet, and then all transactions will be broadcast over Eden's private network. However, Eden RPC endpoints are not currently available on the Ethereum Layer 2 network.

At the end of the block, there are transactions in the public mempool pool, which are sorted by the gas fees paid.

Most importantly, The Eden Network has been announced for IP-1559 and will launch after the London fork upgrade at 12,965,000 ethereum block height.

On August 3 before the official launch, Eden Network has launched the liquidity mining plan, and users can get Eden tokens by pledging Eden-Eth Sushi LP tokens. According to the official introduction, 5.7 million EDEN coins will be allocated to liquidity providers in the first month of liquidity mining. In addition to the EDEN award, liquidity providers receive a 0.25% transaction fee.

Teams with tokens

Eden Network is not a new project, but was migrated from Archer DAO. Archer is developed by an anonymous team, but some of its members can be found on Medium, Discord, and the official website, according to the presentation.

Caleb Sheridan

Caleb Sheridan is The founder of Blocklytics, a blockchain data provider. Prior to that, he was The product head at PokerStars, a poker and gambling product owned by The Stars Group. The Stars Group announced its closure on May 5, 2020.

Luke Lichtenstein

Luke Lichtenstein is Caleb Sheridan's colleague at The Stars Group. He is currently working as a freelance.

Chris Piatt

Chris Piatt, co-founder of Blocklytics, founded analytics consulting firm Pyython in 2016.

After the Archer DAO was migrated to the Eden Network, the Archer DAO token ARCH was also switched 1:1 to Eden, and the total number of archDAO tokens was changed from the previous unlimited number to 250 million.