Kamino CEO ties team token incentives to long-term valuation milestones

Michael Weisz's first letter as CEO links team KMNO allocations to sustained FDV targets from $1 billion to $10 billion Kamino’s new CEO wants the team paid when the protocol is worth a lot, and stays that way. Not when a token pumps for a weekend. In his first letter as CEO, Michael Weisz laid out an incentive structure on November 2, 2026. It ties executive and team KMNO token incentives to sustained fully diluted valuation milestones. The targets are $1 billion, $2 billion, $3 billion, $5 billion, and $10 billion. The pitch is alignment. If the people building Kamino only get rewarded when the token holds real value over time, their interests should look a lot like those of the people holding KMNO. How the incentive ladder works Fully diluted valuation, or FDV, is the price of a token multiplied by its total eventual supply. It answers a simple question: what is this project worth if every token that will ever exist were already circulating? Kamino is using that number as a scoreboard. Team and executive token incentives unlock against five FDV tiers, starting at $1 billion and topping out at $10 billion. The key word in the structure is “sustained.” The milestones are framed ar...