Caldera (ERA) Token Overview
What is Caldera?
Caldera (symbol ERA) is the native utility and governance token of the Metalayer protocol—a rollup-as-a-service (RaaS) platform built on Ethereum. It enables developers to deploy customized Layer‑2 rollups designed for interoperability, scalability, and decentralized coordination. The Metalayer supports features like cross-rollup message passing, fast finality, guardian nodes, and staking to improve Ethereum scalability horizontally rather than through a single chain.CoinDeskCoinMarketCap
Founders & Governance
The project was co-founded by Matthew Katz (CEO) and Parker Jou (CTO) and developed by Constellation Labs. The Caldera Foundation (based in the Cayman Islands) oversees governance, with decisions made through community voting via the Caldera DAO.CoinDeskCoinMarketCap
Tokenomics & Supply
Current Price: Approximately $0.99.
All-Time High: ~$1.88 on July 17, 2025.CoinGeckoCryptoSlate
Circulating Supply: ~148.5 million ERA
Total & Maximum Supply: 1 billion ERA
Fully Diluted Valuation (FDV): Among sources, CoinGecko estimates around $1.31B, while other platforms like Coinbase imply an FDV near £1.10B.CoinGeckoCoinbaseCoinMarketCap+1
Utility & Use Cases
ERA has multiple functions within the ecosystem:
Gas for cross‑rollup operations
Staking for validators in the Metalayer network
Governance voting for protocol improvements, treasury decisions, and council elections
Subnet operations, including services like ZK proof generation or relay services on the MetalayerCoinDesk.
