The ERA token has recently garnered significant attention, and the Caldera project behind it indeed has its own approach within the Ethereum ecosystem. It focuses on the issue of Rollup fragmentation—there are currently too many and too diverse Rollup frameworks on Ethereum that do not communicate with each other, making usage cumbersome. Caldera has created a Metalayer protocol to integrate these frameworks and establish a unified infrastructure, allowing for quick transaction finality, pre-confirmation, shorter settlement times, and enhanced security. This technical direction is quite targeted.
In terms of ecological landing, this project has indeed put in a lot of effort. Currently, it has run over 75 application chains in the fields of gaming, DeFi, and AI, with a total locked value exceeding $1 billion, accounting for 12% of the Ethereum L2/L3 ecosystem. The existence of so many practical applications indicates that its model is recognized by the market.
The capital side is also impressive, with industry giants such as Sequoia Capital and Founders Fund collectively investing $24 million. With these top institutions endorsing it, the project definitely has more confidence in its development. When it launched, exchanges like Binance also supported it, with the price surging 80% on the first day, reaching a high of $1.85, which greatly increased market enthusiasm.
Regarding the token, the total supply is 1 billion tokens, with early investors accounting for about 32%, the community treasury 21%, and the team and foundation each holding a portion, while 7% is reserved for airdrops. The unlocking rules are quite reasonable, mostly with a one-year lock-up period, followed by gradual releases to avoid concentrated selling pressure. Its use cases are also quite comprehensive, as it is required for cross-chain gas payments, node staking, and governance voting, providing ample practical scenarios. Overall, this project has technical highlights, progress in landing, and is worth continuous attention.