🧵👇 Here's a deep dive into chain data suggesting Mirror Protocol, TFL's 'decentralized' stock exchange, is really just a farce designed to enrich Do Kwon/VCs while manipulating governance and screwing over retail. Thank you for being so bad at hiding on-chain moves, Do. 🧵👇

Take a look at the wallet on Ethereum that deployed the Mirror yield farming contracts. Mirror was created by TFL. You can unpack a decent amount of the story by tracing transfers from this wallet... (1/19) https://t.co/IJW1dIBQgJ
537 days ago, the address now known as 'Wormhole: Deployer 4' was funded with initial gas from the Ethereum wallet that initiated Mirror's contract deployals. I've linked both the wallet address and the gas transfer. (2/19) https://t.co/AxTm94HUti https://t.co/AxTm94HUti
At several points in time, this Wormhole-related address (remember who owns Wormhole? Hi again @KanavKariya) owned most of the Mirror LPs on Ethereum. They thus farmed most of the MIR rewards, which would allow them to have a disproportionate say in governance decisions. (3/19)
But they don't want anyone to know this. I have found evidence that this wallet and related wallets try very hard to make it look like MIR governance is not majority-controlled by a single entity - they do so by splitting up MIR between several fresh anonymous wallets. (4/19)
Here's one example: the Wormhole Deployer address bridges over 4.17M from Ethereum to Terra. https://t.co/MVI0oT7MJM Here's where the MIR ended up. https://t.co/aECr85HhXG (5/19)
What's so interesting about that wallet, you may ask? All of the MIR that wallet receives is staked in governance and they use it for voting on proposals. This isn't necessarily shady by itself, but I'm trying to paint a larger picture here that we can piece together. (6/19)
Here are two of the many example wallets used to hol split-up MIR over several wallets, presumably to make governance look a little more decentralized to the undiscerning eye. (7/19) https://t.co/MJdiosm2Xw https://t.co/AHyUUc6CpT
Look into these wallets closely: some also staked millions in bLUNA in Anchor (remember when we discussed the possibility of Borrow being inflated to make Anchor appear more sustainable?), but we'll have plenty of time for that later. The blockchain is your best friend. (8/19)
I could go on all day, but I'll try to pick my address case studies wisely. Wormhole Deployer 4 sent a *lot* of mAssets over from Ethereum into this Terra wallet (both the transaction and the address have been linked). (9/19) https://t.co/e4MYIH5CZZ https://t.co/vNH5NHQxSp
That address sends money to https://t.co/1T8ItzIm4c, which then sends money to a massive Terra whale who sometimes transacts in 750M UST tranches (this is a big deal! That is a *lot* of UST!) (10/19) https://t.co/8bRX6t99V5
Our new whale friend also seems to enjoy spreading out his MIR over a large number of smaller wallets. Take a look at this batch transaction. https://t.co/KUrxVwsDew (11/19)
Here's a fun little bonus bit. One of the addresses above (https://t.co/Dgz46MjBXU) bridged over money to this Ethereum address (https://t.co/ETy7vBUqw3) that owns the "dao5.eth" ENS name. Uh oh... What's this? (12/19)
I was initially going to leave this one out but I'll throw it in. Through a few hops, we can trace MIR coming from the official TFL wallet to this address. https://t.co/RWUrp5Qnse In batches, they are dispatched to this Ethereum wallet. https://t.co/QPTF0oUAu2 (13/19)
This address then uses the MIR to farm more MIR. What do they do with all of it? It appears they are dumping on you: here are tons of transactions to and from Binance and KuCoin from that wallet. (14/19) https://t.co/T8eHU4sqoD
I have a lot more, but I won't bore you with all of the analytical details. I might post an article later explaining all of it. The links go deep, and there are thousands of transactions to go through, but it's all there waiting to be unearthed by whoever cares to look. (15/19)
This blockchain evidence corroborates much of what the employee currently working at Jump told me, most of which I cannot reveal for now, but I assure you that it will (fingers crossed!) all come out in due time. Now, let me tell you what these red flags suggest to me. (16/19)
It appears to me that Mirror governance is a sham. It appears that the reason Mirror dev proposals get voted in so fast is because TFL and TFL-related entities secretly control most of the Mirror governance power behind the scenes without any proper disclosure. (17/19)
It also appears that TFL & Jump have been working hand in hand to pull capital out of the Mirror ecosystem without fair disclosure to retail investors who were sold on Mirror being a fair, decentralized Vanguard-esque alternative for their stock market savings. (18/19)
These are my own thoughts and extrapolations derived from the given data, and I believe any reasonable, neutral person will come to a similar conclusion. I suggest that people examine the data and draw their own conclusions wherever possible. Thank you for reading. (19/19)

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🌿𝑻𝒉𝒆 𝒔𝒕𝒐𝒓𝒚 𝒐𝒇 𝒂 𝑺𝒕𝒂𝒓 : 𝑫𝒉𝒓𝒖𝒗𝒂 & 𝑽𝒊𝒔𝒉𝒏𝒖

Once upon a time there was a Raja named Uttānapāda born of Svayambhuva Manu,1st man on earth.He had 2 beautiful wives - Suniti & Suruchi & two sons were born of them Dhruva & Uttama respectively.
#talesofkrishna https://t.co/E85MTPkF9W


Now Suniti was the daughter of a tribal chief while Suruchi was the daughter of a rich king. Hence Suruchi was always favored the most by Raja while Suniti was ignored. But while Suniti was gentle & kind hearted by nature Suruchi was venomous inside.
#KrishnaLeela


The story is of a time when ideally the eldest son of the king becomes the heir to the throne. Hence the sinhasan of the Raja belonged to Dhruva.This is why Suruchi who was the 2nd wife nourished poison in her heart for Dhruva as she knew her son will never get the throne.


One day when Dhruva was just 5 years old he went on to sit on his father's lap. Suruchi, the jealous queen, got enraged and shoved him away from Raja as she never wanted Raja to shower Dhruva with his fatherly affection.


Dhruva protested questioning his step mother "why can't i sit on my own father's lap?" A furious Suruchi berated him saying "only God can allow him that privilege. Go ask him"