ERA +28.28% in 24 Hours Amid Governance Upgrade and Token Burn

Governance Framework Overhaul Announced

The Era (ERA) blockchain has unveiled a major upgrade to its on-chain governance model, aimed at decentralizing decision-making and increasing community participation. The new framework introduces a multi-tier voting system that allows token holders to propose, debate, and vote on protocol changes more efficiently. This update is expected to streamline the implementation of future developments and reduce reliance on centralized development teams.

Token Supply Reduction Strategy Launched

In a move to stabilize value and enhance scarcity, the Era network initiated a token burn program on July 29, 2025. Over the course of three days, approximately 1.2 billion ERA tokens—equivalent to 1.8% of the total circulating supply—were permanently removed from circulation. The burn event was funded by a portion of the protocol’s revenue generated from gas fees and staking rewards. The team emphasized that this is the first of several planned quarterly burns, subject to community approval via the newly upgraded governance system.

Validator Network Expansion and Staking Incentives

To support the growing demand for decentralized applications on the Era network, the number of active validators increased by 12% in the past week, bringing the total to 5,412 nodes. The network also announced an expansion of its staking rewards program, with a 5% increase in annualized yield for delegators. This incentive is intended to encourage long-term participation and network security, especially as the platform prepares for the next phase of its roadmap.

Community Engagement and Developer Grants

Era has committed to a $2 million developer grant program to support open-source projects and dApps built on its platform. The initiative, announced during the Era DevCon 2025, is designed to attract a broader range of developers and encourage innovation across use cases such as DeFi, NFTs, and cross-chain solutions. The first round of grants will be distributed in early September, with applications now open on the Era Grants Portal.

Roadmap and Future Developments

The Era team outlined key milestones for the remainder of 2025, including the launch of a native token swap feature and the integration of a cross-chain bridge with Ethereum and BNB Chain. These updates are part of a broader effort to position Era as a multi-chain interoperability hub. Additionally, a testnet for the upgraded governance system is scheduled to go live in mid-August, with a public audit to follow.