EDEN token is a utility token of a DeFi platform that was formerly known as the Archer DAO. It runs on ETH and AVAX. The EDEN network is expanding, but as of June 2022 its main product is a relay service for DEX and NFT traders on ETH and a liquid staking infrastructure for AVAX DeFi apps.
Decentralized trading is great, but it’s not perfect. One of its issues is front-running, where transactions are all publicly visible on blockchain before they are confirmed, which means they can be arbitrarily reordered.
Eden is a protocol that solves this problem by guaranteeing transaction placement and protection from arbitrary reordering by repackaging the transactions in an opaque way. This makes the network more secure and DEX trading less risky.
To access this Eden Relay feature, the Eden network recommends in their documentation to add the Eden Network RPC into MetaMask and connect to that network. If you then submit your ETH transactions through that, they will not be visible on the ETH blockchain, but it will be confirmed via the Eden blockchain.
EDEN coin staking
DeFi users can stake EDEN to gain access to the Eden Relay as the staking rewards are paid out in EDEN token. The minimum stake is 100 EDEN. You can stake EDEN via MetaMask connected to https://app.edennetwork.io.
Alternatively, you can earn yield as a Liquidity Provider of EDEN in the EDEN pairs on SushiSwap. That is the classic DeFi staking (or LP staking) and you can yield income on EDEN at any swap that lists its pairs.
Where to buy EDEN coin for fiat
Buying EDEN coin directly for fiat will need you to get KYC verified. There’s a couple of exchanges that list EDEN and let you buy it for fiat, the largest one is FTX.
Binance and Bitfinex don’t list EDEN coin yet.
Where to buy EDEN coin without KYC
It should come as no surprise that the EDEN coin is not available in the USA sister platforms of neither Binance nor FTX. As for the Tether based no-KYC platforms, EDEN coin is not yet even listed on Phemex.
If you are in the United States and want to buy EDEN coin before it gets listed on the mainstream US trading platforms, you will need to do the two-step process and buy EDEN token without KYC.
First buy USDT (Tether) on any exchange that lets you and then trade your Tether for EDEN coin on LATOKEN. Latoken is a no-KYC exchange that lists a EDEN/USDT market.
Where to trade EDEN coin
If all you want to do is speculate on the price of EDEN coin, then you will probably want to make an account at FTX as they have the industry’s lowest trading fees. Anyone opening a new FTX account pays just 0.02% for limit orders and 0.07% for market orders on spot or derivative markets. You may also add 5% referral code savings, as well as exchange token savings if you decide to hold FTT. Use FTX referral code
But in case you are trading a lot of low-cap crypto coins, you can always trade EDEN on LATOKEN spot market. LATOKEN is a crypto exchange that lists all the low cap cryptos before they are on bigger exchanges. LATOKEN does not require KYC.
Crypto wallets that support EDEN coin
EDEN coin can be stored in Metamask or any wallet that supports ETH tokens. The Eden network documentation recommends MetaMask, though.