Significance Macrolichens are considered to be well known, including the tropical montane basidiolichen fungus Dictyonema glabratum , also known as Cora pavonia , an important component of threatened paramo ecosystems, where it acts as a biological fertilizer due to its ability to fix atmospheric nitrogen. This lichen was long believed to represent a single species, but after revising this number to 16 in two genera ( Cora and Corella ), here we show that at least 126 phylogenetically and morphologically distinct species are contained within this group, with statistical analysis predicting more than 400. Our findings underline the importance of accurately documenting species richness for conservation purposes and support the notion of neotropical paramos as hotspots of recent diversification in plants, animals, and fungi.