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🧵👇 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)

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)

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)