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HomeAIRDROPSCornerstone Airdrop Review: One Token to Govern All

Cornerstone Airdrop Review: One Token to Govern All

About Cornerstone Airdrop

Cornerstone Airdrop is a metagovernance protocol for DeFi, Web3, social, gaming and more for the NEAR ecosystem. The native token $CORN enables its holders to participate in DAO governance of various Dapp protocols and capture value from the entire NEAR ecosystem. Cornerstone is airdropping a total of 10,000 CORN to LiNEAR (staked NEAR) stakers. The first snapshot was taken between July 20th to July 25th, 2022 and a total of 10 snapshots will be taken until the launch of the platform (expected to happen around August to September)

BasicDetails
Token NameCornerstone Airdrop
PlatformCORN
Total Value10,000 CORN
Airdrop EndN/A
KYCKYC Is Not Requirement
WhitepaperClick Here To View
Max. ParticipantsUnlimited
Collect AirdropClick Here To Collect Free Airdrop

Step-by-Step Guide:

  1. Visit the LiNEAR Protocol website.
  2. Connect your NEAR wallet. Get one from here if you don’t already have one.
  3. You can buy NEAR from Binance.
  4. Now stake some NEAR on LiNEAR Protocol.
  5. You will get LiNEAR, the staked version of NEAR.
  6. Cornerstone will be airdropping a total of 10,000 CORN to LiNEAR stakers.
  7. The first snapshot was taken between July 20th to July 25th, 2022 and a total of 10 snapshots will be taken until the launch of the platform (expected to happen around August to September).
  8. Users who’ve LiNEAR in a private wallet or in other protocols (such as LP on Ref.finance and Jumbo, and deposits on Burrow, etc.) are also eligible.
  9. The rewards will be distributed based on the duration of a user’s holding of LiNEAR.
  10. For more information regarding the airdrop, see this Medium article.

What is Metagovernance?

Metagovernance is a mechanism that uses one metagovernance token to participate in the DAO governance of multiple protocols. Cornerstone achieves this by accruing governance tokens in its treasury and enabling $CORN holders to decide how to use them.

Current problems with on-chain Dapp ecosystem

1. Scattered governance: There are dozens of governance tokens to hold

2. Ecosystem Inefficiency: Many “wars” being fought, without enhancing capital efficiency

3. Siloed value capture: Almost all protocols want to be the next Curve, but many are too small to generate meaningful governance value alone

4. Poor UX: Cornerstone Airdrop Operating different tokens on one protocol alone is a hassle for an individual user (CRV, veCRV, cvxCRV, CVX and vlCVX), not to mention operating across multiple ones at the same time.

What is Cornerstone

Metagovernance

Rule USN with $CORN.
Extract governance value across all protocols in DeFi, Social, Web3, Gaming, NFT and more

PCV (Protocol Controlled Value)

Lock in leveraged yield by minting $CORN

Why Cornerstone

DAO of DAOs

As the ultimate governance layer across protocols on NEAR, Cornerstone increases participation in DAO and decentralization of the ecosystem, boosting yield for $CORN users

Incentive Alignment

Cornerstone manages the assets of all the protocols it governs, maximizing capital efficiency and reducing canibalization among protocols

Sustainability

Cornerstone will sustainably grow with its treasury assets, amplified by boosted revenue streams and governance value.

How to Participate Cornerstone

Mint

Purchase $CORN at a discount with mainstream assets and governance tokens

Stake

Stake $CORN to get $xCORN, grow along with Cornerstone treasury. Dilution-proof

Vote

Lock $xCORN to get $veCORN. Vote with $veCORN and generate revenue

Why Corn is a win for every party?

1. Users: Maximize return on token holdings. With Cornerstone, user can capture governance value of the entire ecosystem with only ONE token, automatic and hassle-free

2. Cornerstone Airdrop DeFi & non-DeFi platforms: Massively reduce sell pressure on their governance tokens. Acquire semi-permanent liquidity, and make governance effective

3. All other protocols: Maximize capital efficiency. Influence token emission of multiple platforms via a single market

4. Ecosystem: Reduce cannibalization among protocols. Lower the cost of liquidity. Enhance governance culture

What is Cornerstone treasury and from where does $CORN derive its value?

1. Cornerstone Airdrop balanced portfolio of mainstream assets and governance tokens: Cornerstone will bootstrap its treasury with mainstream assets (USDC, NEAR, ETH, etc.) and LP tokens. Users have low risk as they can exit (burn $CORN for treasury assets) anytime if $CORN is trading below the basket of tokens it represents

2. The biggest DAO-managed liquidity provider: Individual farmers are better off joining Cornerstone, because it has more governance tokens, thus higher boost for farming rewards – Economy of Scale. Protocols seeking TVL will compete for Cornerstone treasury assets – more incentives for $CORN holder

3. The most powerful governor of the ecosystem: As Cornerstone will gradually accrue more and more value from the leading assets across NEAR ecosystem

Bixer Simond
Bixer Simond
Bixer Is Long Term Writer & Editor At Woodfi . His Hobby Is Writing Article For Wootfi Visitors . His Main Focus Area Is Crypto , Affiliate , Blockchain , NEFT , ICO . In Free Time He Loves To Research New Things
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