SEC v. Terraform Court Filing, retrieved on February 16, 2023, is part of . You can jump to any part in this filing . This is part 23 of 38. HackerNoon’s Legal PDF Series here D. MIR Tokens 86. Investors in MIR tokens invested in a common enterprise with other MIR token purchasers, as well as with Defendants. 87. Proceeds of the sales of MIR tokens were pooled together to develop and fund Terraform operations and, specifically, the Mirror Protocol.
After the launch of the Mirror Protocol, Terraform "farmed" MIR tokens to distribute to investors pursuant to agreements between investors and a wholly owned subsidiary of Terraform which were signed by Kwon. Terraform farmed more MIR tokens than it was required to distribute, and retained or sold the excess tokens.