Unexpected BNB HODLer Returns: Caldera ($ERA)! This should be the biggest benefit for BNB holders after stepping into 2025, aside from Alpha. Is it due to the recent surge in ETH, bringing back the focus on infrastructure and narratives, or did Caldera's TGE align perfectly with the timing and circumstances? Four months ago, I paid attention to Caldera and posted an introduction: In one sentence, Caldera: a Rollup engine that supports the rapid creation of any number of high-performance new chains, enabling seamless interaction between multiple chains through the Metalayer full-stack universal cross-chain interoperability solution. Caldera is an integration of the entire Ethereum Rollup solution, very similar to OP's Superchain, but goes beyond just Superchain. According to this research report from Binance: Caldera has provided technical support for about 25% of Rollups, and as Ethereum continues to strengthen, it will awaken everyone's interest in Rollups again, allowing Caldera to continue expanding its share in the Rollup space. However, even with the above background and expected supplements, facing a new coin with an FDV exceeding 1 billion USD, there is some concern about its sustainability. 📝 Analyzing from two perspectives: 1️⃣ From the token unlock perspective, the recent larger unlock will come from 5.16% on 10.17, and before that, there were two unlocks of 1.31% on 8.17 and 9.17; 2️⃣ From the token empowerment perspective, it mainly serves as the universal cross-chain Gas for the Caldera ecosystem and ensures the security of the Caldera network through staking, with other aspects including participation in governance and ecosystem support; ERA's current circulating market cap is 183 million USD, accounting for 14.85% of the total share. Based on proportional calculations, future unlock shares will dilute by about 10% each time over the next two months, but the most concerning is the 5.17% unlock on 10.17, which will directly dilute by about 35%. The consumption and locking of ERA will depend on whether this TGE can drive strong exposure and boost Caldera's market share in Rollups, but more importantly, how long this bull market can last! Note: The above is for information sharing only and is not investment advice. Please do your own research!