2022 Proof of Stake Expansion
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.
