啊豪会自由

As the blockchain industry rapidly transitions from 'concept hype' to 'practical implementation', Chainbase (token abbreviation C) enters the public eye as an 'infrastructure enabler'. Unlike tokens that focus on a single application scenario, the core value of C is anchored in the 'full-chain development infrastructure' built by Chainbase—from data indexing, smart contract auditing to cross-chain interaction, C runs through every key link in the blockchain ecosystem for developers.
In terms of technology, Chainbase uses a distributed node network to process on-chain data, while C serves as the 'fuel' for node operations: node operators must stake a certain amount of C to gain data processing rights, with their earnings tied to the accuracy and timeliness of the processed data. This design not only ensures the stability of the infrastructure but also activates the ecosystem through the liquidity of C—by Q2 2024, Chainbase has integrated data from over 30 public chains, processing more than 50 million on-chain query requests daily, while the staking amount of C accounts for 42% of the total circulation, reflecting the activity of the node network.

While most infrastructure projects are content to be 'vassals of public chains', Chainbase (C) is becoming a 'co-builder' of the public chain ecosystem through deep collaboration strategies. This positioning difference allows C's value radiation range to far exceed that of ordinary tool tokens.
In the Ethereum ecosystem, C's role has upgraded from 'data query fuel' to 'Layer 2 collaboration medium'. For example, Chainbase provides customized data indexing services for Layer 2s like Optimism and Arbitrum, and these Layer 2 developers can choose to use C to offset 30% of their service costs when paying fees. This preferential policy promotes C to become the 'secondary settlement token' within the Layer 2 ecosystem. Currently, C payments account for 27% of the total transaction volume on Ethereum Layer 2.

The ERA of Caldera can maintain a unique competitive edge in Layer2 tokens, thanks to its tokenomics' "anti-inflation design". Unlike most projects that rely on linear release inflation models, ERA uses a mechanism of "burning linked to staking" that allows the token circulation to naturally contract as the ecosystem expands, creating a positive value cycle.#Caldera
The total supply of ERA is 500 million tokens, with an initial circulation of 150 million tokens. The remaining 350 million tokens will be released over 8 years: 60% for ecosystem incentives (unlocked based on the daily active user count of Layer2 on Caldera), 25% allocated to the team and early investors (locked for 3-6 years), and 15% for foundation reserves (specifically supporting security audits and cross-chain collaborations). The core innovation lies in the "dynamic burning rules"—whenever the daily transaction volume of any Layer2 based on Caldera exceeds 1000 ETH, the system automatically burns 50% of the ERA fees generated that day; when the total TVL of all Layer2 in the ecosystem increases more than 20% month-on-month, an additional 20% of the monthly incentive pool's release amount will be burned.

Since its inception, Treehouse Virtual Currency (Tree) has gone through a series of development stages, gradually emerging in the cryptocurrency market and demonstrating a broad future development prospect.#Treehouse
In the early stages of development, the Treehouse team focused on building an innovative digital asset fixed-income ecosystem, with Tree as the core token within the ecosystem, its value and application scenarios are continually being explored and refined. Over time, Treehouse has successively launched several important projects, such as the issuance of tETH and the launch of the cmETH Vault. These projects not only enrich the content of the Treehouse ecosystem but also provide strong support for the application and value enhancement of Tree.

The C token of Chainbase shows growth potential, but on its development path, it still faces multiple risk challenges, which come from both the underlying technology and the market competition landscape.
The core risk at the technical level is the "dependency on public chains." Currently, 80% of Chainbase's data processing needs come from the Ethereum ecosystem. If Ethereum encounters issues such as upgrade delays or soaring gas fees, it will directly affect the usage scenarios of C— for example, during the Ethereum Shanghai upgrade in 2023, API call volume for Chainbase decreased by 35%, causing the daily turnover rate of C to drop from 10% to 6%. Although Chainbase is expanding its multi-chain ecosystem, it is still difficult to shake off its reliance on major public chains in the short term.

The C token of Chainbase is not only a value carrier but also a core tool for community governance. Its governance model is undergoing a transformation from 'foundation-led decision-making' to 'developer-led autonomy', a process that embodies the decentralized spirit of Web3 and grants additional ecological cohesion to C.
In the early days, the governance rights of C were primarily controlled by the Chainbase Foundation, with significant decisions (such as adjustments to technical routes and cooperation project admissions) made by the foundation. In Q3 2023, with the number of developers within the ecosystem exceeding 10,000, Chainbase launched the 'decentralization of governance' plan: developers holding more than 100,000 C can initiate proposals, and all C holders can vote in proportion to their holdings. Proposals that receive over 51% support will take effect. So far, the community has passed 8 proposals, including 'reducing service fees for small and medium developers' and 'increasing data services for the Aptos ecosystem', significantly optimizing the ecological experience.

While most Layer2 projects are content to be Ethereum's "scaling branches," Caldera (ERA) is becoming a "co-builder" of the Ethereum ecosystem through deep collaborative strategies. This positioning allows ERA's value radiation range to far exceed that of ordinary Layer2 tokens.
In terms of technical synergy, Caldera is one of the first adapters of Ethereum's "Danksharding" upgrade, with ERA serving as a "cross-stage transition tool." For example, before Danksharding is fully implemented, Caldera uses ERA's "data compression protocol" to reduce the amount of on-chain data from Layer2 by 40%, indirectly reducing the burden on the Ethereum mainnet; when Danksharding goes live, ERA can automatically convert into a "data settlement token" compatible with the new architecture, ensuring that Layer2 based on Caldera seamlessly connects to the new Ethereum ecosystem. This forward-looking layout allows ERA to maintain its value relevance throughout Ethereum's iterative process.

The decentralization of cryptocurrency is not only reflected in the technological level but also in the depth of community governance. BMT's approach in this dimension has taken a differentiated path of 'user co-creation', making its ecological decisions more aligned with market demands.
The governance system of BMT is divided into three stages: 'Proposal-Voting-Execution'. Any user holding more than 10,000 BMT can initiate a proposal, covering areas such as technical upgrades, entry for cooperative projects, and adjustments to incentive rules. For example, the proposal to 'expand the mapping scope of real estate data' in Q4 2023 was initiated by community members and was implemented after being approved by 67% of BMT holders, ultimately facilitating cooperation between Bubblemaps and three international real estate agencies. This mechanism transforms BMT holders from 'investors' into 'ecological co-builders', enhancing community cohesion.

Although Caldera's ERA is in a growth phase, it still faces multiple real challenges in the context of intensified competition in the Layer2 track, and the way these challenges are addressed will determine whether ERA can grow from a 'potential token' into an 'ecological pillar'.
The most direct risk is 'homogeneous competition'. Currently, leading Layer2 tokens such as Arbitrum (ARB) and Optimism (OP) occupy over 70% of the Layer2 market share due to their first-mover advantage. Although ERA differentiates itself through 'modular customization', it needs to continuously invest resources to attract existing users—by the first half of 2024, Caldera plans to subsidize developers with 8 million ERA, accounting for 5.3% of the circulation during the same period. If this 'burning tokens for customer acquisition' model continues long-term, it may dilute the value of ERA.