Cornerstone Airdrop Review: One Token to Govern All

by Cws Team
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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
PlatformNEAR
Total Value10,000 CORN
Airdrop Ended N/A
KYCKYC Is Not requirement
WhitepaperClick Here To View
Max. ParticipantsUnlimited
Collect AirdropClick Here To Collect Free Airdrop

How To Join Age Of Cornerstone Airdrop

First Step

Visit the LiNEAR Protocol website.

Second step

Connect your NEAR wallet. Get one from here if you don’t already have one.

Third Step

You can buy NEAR from Binance.

Fourth Step

Now stake some NEAR on LiNEAR Protocol.

Fifth Step

You will get LiNEAR, the staked version of NEAR.

Six Step

Cornerstone will be airdropping a total of 10,000 CORN to LiNEAR stakers.

Seven Step

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).

Eight Step

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.

Nine Step

The rewards will be distributed based on the duration of a user’s holding of LiNEAR.

Ten Step

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

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

Why Cornerstone

DAO of DAOs

Cornerstone Airdrop 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.

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