An unnamed Dyckia species from Northeast Santa Catarina.

Most probably a Dyckia dussenii affinis

Some Dyckia species are heavily coated on the under leaves and they lift up their leaves in order to face the Sun during an extensive period of drought. This endument if on the upper surface it would be washed away by the rain and would be  useless during the dry season. Also lifting up the foliage the plant protects the growing area.