Caldera

Caldera (ERA) emerges as a top-tier infrastructure project within the Rollup-as-a-Service (RaaS) sector, characterized by exceptional technical execution and elite institutional backing. The project achieves its highest scores in Active Development (9.5) and Team (9.0), driven by a highly productive engineering culture and founders with backgrounds from Nvidia and Apple, supported by investors like Sequoia and Founders Fund. The 'Metalayer' technology provides a strong fundamental use case (Score 8.5) by solving fragmentation across the 50+ rollups already powered by the platform. Community Support is also robust (8.8), utilizing gamified engagement to retain users. However, the investment thesis is tempered by Tokenomics (6.2), which reveals a high concentration of supply (>70%) controlled by insiders and the foundation. While this structure is typical for VC-backed chains, it introduces centralization risks and potential sell pressure upon vesting cliffs. Overall, ERA represents a high-conviction infrastructure play where technical superiority and market positioning outweigh the risks associated with its centralized token distribution.