In his first letter as CEO, Michael Weisz tied executive and team KMNO allocations on November 2, 2026, to five sustained fully diluted valuation thresholds of $1 billion, $2 billion, $3 billion, $5 billion, and $10 billion. The structure is intended to align the team’s interests with those of KMNO holders, with KMNO remaining the only token that captures value from the protocol while the Kamino Foundation retains all intellectual property and revenue. Weisz committed at least $20 million in revenue over the next two years to expand the assets supported by Kamino and grow its distribution channels, particularly around tokenized assets and institutional lending. Appointed CEO in September 2026, Weisz saw KMNO’s value rise by 57% around his appointment. The valuation tiers give holders public benchmarks, while the absence of separate equity allocations prevents them from competing with foundation shareholders, although foundation governance remains a central issue.
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