The core unlock conditions for the team’s KMNO have been pushed to an FDV of $1 billion to $10 billion—a range that stretches to the edge of the universe.
Kamino CEO Michael Weisz just published an open letter. Most of the KMNO held by the team, founders, and investors won’t unlock until FDV reaches and stays at progressively higher milestones within this range. There’s no separate equity and no new issuance. The foundation controls all revenue and intellectual property, and will spend at least $20 million over the next 24 months to expand the business. It may buy back and burn tokens later, but the letter didn’t say how or when.
In the short term, the added selling pressure seems to be under control. But that threshold... $SOL is now at $93.4, barely moving over the past 24 hours, and the market isn’t showing much follow-through. If new capital doesn’t come in, sentiment will keep grinding.
Anyway, those are the conditions. Let’s see if that $20 million actually materializes.
#KMNO #Solana #DeFi
Kamino CEO Michael Weisz just published an open letter. Most of the KMNO held by the team, founders, and investors won’t unlock until FDV reaches and stays at progressively higher milestones within this range. There’s no separate equity and no new issuance. The foundation controls all revenue and intellectual property, and will spend at least $20 million over the next 24 months to expand the business. It may buy back and burn tokens later, but the letter didn’t say how or when.
In the short term, the added selling pressure seems to be under control. But that threshold... $SOL is now at $93.4, barely moving over the past 24 hours, and the market isn’t showing much follow-through. If new capital doesn’t come in, sentiment will keep grinding.
Anyway, those are the conditions. Let’s see if that $20 million actually materializes.
#KMNO #Solana #DeFi