Cornichon

Cornichon compensates DAI stablecoin de-peg losses from Curve.fi (Nov 2020) on Ethereum, offering CORN tokens for governance & claim on losses, promoting transparent, decentralized decision-making in DeFi.

Yield Farming
Insurance
Other Categories
+1

Copy link
Share on X

cornichon.ape.tax

Claim company
Report company

Description

Cornichon is a project developed on the Ethereum blockchain to address losses suffered by users during the DAI stablecoin de-pegging event on Curve.fi in November 2020. It introduces the CORN governance token, which symbolizes a claim to the losses incurred, based on a snapshot of affected users from the pre-hack pDAI Jar on Curve.fi. CORN token distribution is proportional to the loss each user experienced. These tokens not only represent the loss but also grant holders voting rights in the project's governance, allowing them to participate in decisions about its future direction and management. The project incorporates a mechanism for burning CORN in exchange for DAI, with the replenishment of DAI reserves being subject to decisions made by the Pickle community. By leveraging smart contracts for transparent and secure operations, Cornichon aims to offer a decentralized solution for compensating affected users while fostering community engagement and decision-making within the DeFi space.

My Notes

Similar companies

CORN

Corn (CORN) is a cryptocurrency launched in 2024 and operates on the Ethereum platform. The token has a fixed total supply of 1,000,000,000 CORN, although currently none are in circulation. Over the last 24 hours, the trading volume has varied signifi...

Polycorn Finance

Polycorn Finance is a DeFi project on Polygon network, offering yield farming, liquidity mining via its AMM, with a native token for rewards and governance.

CorionX

CorionX is a blockchain platform promoting stablecoins and DeFi. It features the interoperable CORX token for scalable transactions, staking rewards, and integrates both CeFi and DeFi solutions.

Crop Finance

Crop Finance merges DeFi with agriculture, offering secure, fast financial services to farmers using blockchain for loans and yield farming.

Decacorn Capital

Decacorn Capital is a global venture fund focusing on early-stage tech, including blockchain, AI, FinTech, and IoT, aiming to back startups with exponential growth potential.

CORE

CORE (cvault.finance) is a DeFi project focused on deflationary farming, stabilizing token value through unique staking, locked liquidity, and profit-sharing mechanisms.

Conic Finance

Conic Finance offers a multi-chain, yield-generating protocol for stablecoin liquidity on Curve Finance, enhancing yields with its Conic Liquidity Boost (CLB) by amplifying exposure without extra assets.

MnICorp

Explore decentralized finance with MnICorp's MnI Utility Token, giving community members governance over land-backed real-world assets and offering staking options and AI-based risk management.

Solanacorn

Solanacorn offers $CORN, a token representing nanograms of "unicorn kidney" on the Ethereum blockchain, blending humor and blockchain technology.

Popcorn

Popcorn is a DeFi platform offering yield farming & ethical finance by donating part of fees to social causes, enabling users to vote on charity support.

Coinocracy Finance

Coinocracy Finance is a DeFi project leveraging Ethereum blockchain for decentralized governance, enabling token holders to propose and vote on ecosystem changes.

Concave

Concave is a DeFi platform on Ethereum, redefining DeFi with unique financial tools and DAO governance. It offers staking, bond offerings, and a DAO-managed treasury to support ecosystem growth, focusing on transparency, community, and sustainable gro...

FAQ

What is the main purpose of the Cornichon project?

Cornichon primarily aims to address the financial losses incurred by users due to the de-pegging event of the DAI stablecoin on the Curve.fi platform in November 2020. By distributing CORN tokens as compensation, the project provides a way for affected users to reclaim their losses while participating in the governance of the Cornichon platform.

How do users receive CORN tokens in the Cornichon project?

Users affected by the DAI de-pegging event receive CORN tokens based on a pre-hack pDAI Jar snapshot. These tokens are distributed proportionally to the losses incurred, allowing users to have a claim against the loss and to participate in the governance and future decisions of the Cornichon project.

What benefits do CORN token holders have within the Cornichon project?

CORN token holders benefit by having a claim against their incurred losses from the DAI de-pegging event and the ability to participate in the governance of the Cornichon project. This includes voting on proposals and making decisions that guide the project's future direction, reinforcing the principles of decentralization and community involvement.

How does Cornichon leverage blockchain technology in its operations?

Cornichon uses smart contracts and blockchain technology to facilitate the transparent, secure, and fair distribution of CORN tokens and to enable the decentralized governance of its platform. This ensures accountability and aligns with web3 and DeFi principles, enhancing trust among its community of users.

What makes Cornichon unique compared to other yield farming and asset management projects?

Cornichon stands out by addressing specific losses from an incident on the Curve.fi platform and by involving users directly through CORN tokens in governance and compensation. This unique approach combines yield farming with community-driven recovery, creating a symbiotic relationship between loss recovery and active participation in the project's evolution.

What can I do if I encounter issues with my CORN tokens?

If you face any issues with your CORN tokens, you should first verify your eligibility and claim details based on the pre-hack snapshot. For further assistance, participating in the community governance discussions or reaching out for support through Cornichon's communication channels can help resolve your queries and ensure your token-related concerns are addressed effectively.

Company is unclaimed. Do you work for or own this company?