ERA, which is also Caldera. Its current price is around 0.08u. The historical high reached 1.88u. Now it’s down by about 95%, and it’s close to a new historical low.

The project builds a Layer 2 network infrastructure so that other projects don’t have to assemble their own engineering teams to quickly deploy their own Layer 2 chain. It also has something called Metalayer, which connects different Layer 2 chains to enable cross-chain communication and resource sharing. It can support both the optimistic and zero-knowledge technical routes.

The token is used for cross-chain interaction fees, validator node staking, and governance voting for protocol upgrades and treasury fund allocation.

The team behind it is Constellation Labs, which does Ethereum scaling research.

Its circulating supply is only about 17% of the total supply so far—the bigger share is still to come. Over the past couple of days, the price has been tracking near this year’s lows. Trading volume is still fairly large: about a few million USD per day, suggesting there are still people paying attention.

For infrastructure projects like this, value realization tends to be slow. It depends on how many real projects are willing to deploy chains on top of it later—only when there are more users will it have support #ERA. $ERA