Caldera’s native token, $ERA, is at the heart of its Layer-2 modular infrastructure, known as the Metalayer—a protocol that connects custom rollup chains, enabling seamless cross-chain messaging, asset transfers, and shared liquidity. As both a utility and governance token, $ERA powers a range of functions: it serves as the gas token for Metalayer transactions, enables staking by validators for network security and cross-chain interoperability, and grants holders the right to vote on protocol upgrades, funding, and ecosystem parameters through Caldera Improvement Proposals. With a fixed supply of 1 billion tokens distributed among early users, investors, team, ecosystem incentives, and airdrops, the distribution model aims to balance growth, decentralization, and long-term commitment. The launch of $ERA has been marked by notable exchange listings—including Binance, Coinbase, Upbit, Gate.io, Bitget, and others—accompanied by airdrops and HODLer incentives that have triggered significant price surges and growing market attention.
