TREE NEWS update: Kamino CEO Michael Weisz said in an open letter to KMNO holders that most of his own token allocation, and future team allocations, will unlock only after KMNO’s fully diluted valuation sustains incremental milestones between $1 billion and $10 billion. The Solana lending protocol has no separate equity allocation and will not mint new tokens; all on-chain and off-chain revenue and IP sit with the Kamino Foundation, which will spend at least $20 million over the next 24 months and may support KMNO through buybacks and burns, with the form and timing undecided.
Kamino CEO: Team KMNO Unlocks on FDV Milestones, Buyback Possible
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AI take
Structuring team unlocks around sustained FDV milestones is a notable alignment mechanism: it ties insider liquidity to valuation levels the market itself must hold, rather than to a fixed calendar. The explicit absence of a separate equity allocation, plus revenue and IP sitting with the Foundation, narrows the value-capture question to the token itself. The buyback and burn option is the more consequential signal, but its form and timing remain undecided, so whether that commitment moves from language to execution is the open question worth watching.
Generated by AI for reference only.
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