We can discuss Eden Coin mechanism and implementation here. My original idea is to build Eden Coin on Ethereum blockchain similar to Stable Coins. We will list Eden Coin on crypto exchanges and connect with Visa, Master, and Paypal for the redemption parts.
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It looks like Bitcoin has bottomed, and the next bull run will commence in 2024.
When Is The Next Crypto Bull Run? (2023) | Bybit Learn
Basically, Facebook can create some coins like Eden Coin and can share the profits with people. It's just there may not be many social benefits. I couldn't think of a business model for them to use the coin as effective and beneficial as Eden Coin.
Crypto market is melting down. This is due to FTX fraud: "On Nov. 16, 2022, a class-action lawsuit was filed in a Florida federal court, alleging that Sam Bankman-Fried created a fraudulent cryptocurrency scheme designed to take advantage of unsophisticated investors from across the country. Other celebrities named in the lawsuit include Steph Curry, Shaquille O’Neal, Shohei Ohtani, Naomi Osaka, Larry David, and Kevin O’Leary, who allegedly helped Bankman-Fried facilitate the plan."
Eden Coin could be the only viable model for cryptocurrencies. The money for redemption should be in the hands of a custodian, so the base value can be ensured. Project revenue can provide solid foundation for the valuation of Eden Coin as well.