According to Kamino’s November 3 disclosure, most of CEO Michael Weisz’s KMNO allocation vests only if the token reaches progressively higher valuation thresholds and maintains them over time. The foundation announced a $20 million commitment over 24 months to support its growth plans but stated that KMNO holders have no claim on its revenue, distributions or equity. On the same date, DefiLlama tracked $5 million in fees, $607,996 in 30-day protocol revenue and no tracked revenue for holders. As of November 3, KMNO traded at about $0.034, with a $200 million market capitalization and $20 million in 24-hour trading volume. Kamino says it holds reserves beyond its growth commitment, but it has not defined any mechanism for determining a future financial benefit for token holders.
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