Kamino CEO: Team KMNO to Unlock per FDV Milestones, Buybacks May Be Considered

November 3: According to Kamino's official blog, Michael Weisz, CEO of the Solana lending protocol Kamino, published an open letter to KMNO holders stating that the majority of his KMNO allocation will unlock only after KMNO's fully diluted valuation (FDV) reaches incremental milestones between $1 billion and $10 billion and remains sustained at those levels, and team members will adopt the same arrangement going forward; the company has no separate equity allocation and will not issue additional tokens. All on-chain and off-chain revenue and intellectual property of Kamino belong to the Kamino Foundation, which will invest at least $20 million in development over the next 24 months; as it scales, the ways the Foundation supports KMNO may include buyback and burn, with the specific form and timing not yet determined.