Kamino (KMNO) Token Unlock September 2026: Price, Amount, Price Impact
2026-09-30
Kamino just had one of its most volatile stretches in months, a 73% weekly rally followed by a sharp reversal and now faces a 230 million KMNO token unlock worth roughly $10.6-10.8 million on September 30, 2026.
That timing isn't a coincidence CMC's own AI analysis has already flagged: unlock-driven supply pressure is cited as a direct factor in KMNO's recent pullback. Here's the exact unlock schedule, what's actually vesting, and what the data says about price impact.
Key Takeaways
Kamino's next token unlock is scheduled for September 30, 2026, releasing approximately 230 million KMNO worth roughly $10.6-10.8 million depending on price at the time of calculation.
KMNO's price has been extremely volatile heading into this unlock: up 73% over the prior week before falling 9.44% in 24 hours on September 29, a drop CoinMarketCap's AI analysis attributed primarily to broad market deleveraging ($531 million in crypto liquidations) rather than the unlock itself though the unlock was flagged as adding further supply-side pressure.
KMNO's total supply is 10 billion tokens, with Core Contributors and Key Stakeholders/Advisors allocations (55% combined) locked for 12 months post-TGE before vesting linearly over 24 months meaning ongoing monthly unlocks are a structural, recurring feature of KMNO's supply schedule, not a one-time event.
Kamino's Next Unlock: Date and Amount
Based on the most recent reporting available, Kamino's upcoming token unlock is scheduled for September 30, 2026, releasing approximately 230 million KMNO tokens.
Source: DefiLlama
At the time these figures were calculated across two sources, the unlock's dollar value was estimated between $10.64 million and $10.8 million, the difference reflecting KMNO's price movement between each report's publication time rather than a change in the token amount itself. For context on scale: 230 million tokens represents roughly 2.3% of KMNO's 10 billion total supply.
Whether that's a meaningful percentage of circulating supply specifically depends on how much of the total supply is unlocked at the time a figure worth checking against a live tracker, since KMNO's circulating supply has grown substantially since its April 2024 TGE, when initial circulating supply started at roughly 1 billion tokens (10% of total).
KMNO Tokenomics: Where This Unlock Fits
Source: kamino
To understand why unlocks keep recurring, it helps to see KMNO's full distribution structure, per Kamino's own official documentation:
*Note: the Genesis Allocation figure (7.5%) appears to be drawn from a different total than the other categories, since the five percentages as listed don't sum to exactly 100%. This likely reflects Genesis being carved out of the broader Community allocation rather than being fully additive, confirming the precise breakdown against Kamino's live documentation if citing exact percentages.
The two largest locked allocations Key Stakeholders & Advisors and Core Contributors, together 55% of total supply both follow the same 12-month-cliff, 24-month-linear-vesting structure.
Since KMNO's TGE was April 30, 2024, that 12-month cliff would have ended around April 2025, meaning these allocations have been vesting linearly on a monthly basis since then which is exactly why events like this one keep recurring rather than being a single, isolated moment.
KMNO Price Context Heading Into the Unlock
The wide swing in these numbers even within snapshots taken close together reflects genuinely high volatility. KMNO rallied sharply over the prior week with, per CMC's own analysis, "no specific news catalyst" identified beyond momentum and organic buying interest following an earlier breakout.
That rally then reversed on September 29 amid a broad, market-wide deleveraging event that triggered $531 million in crypto liquidations across the market a move CMC's analysis attributed primarily to macro conditions rather than anything specific to Kamino, though it explicitly flagged the coming unlock as an additional factor pressuring price into month-end.
Does This Unlock Explain KMNO's Recent Price Drop?
Based on the available analysis, the honest answer is: partially, but it's not the primary driver identified. CoinMarketCap's own AI-generated analysis attributed KMNO's September 29 decline mainly to:
Broad market deleveraging $531 million in crypto-wide liquidations creating a risk-off environment that hit high-beta DeFi tokens like KMNO particularly hard.
Crowded leverage unwinding global open interest had risen 20% with funding rates spiking over 50% in 24 hours beforehand, conditions the analysis described as "vulnerable to a flush."
Technical rejection price had failed to break above the $0.0505 resistance zone, turning that level into a ceiling.
The upcoming unlock was explicitly named as a contributing factor for the days ahead rather than the primary cause of the September 29 drop; specifically CMC's analysis noted the unlock "adds supply-side pressure" and flagged it as something to watch as September 30 approached, alongside whether the $0.040 support level would hold.
What to Watch as the Unlock Approaches
Based on the technical levels identified in available analysis, a few specific things are worth tracking:
Whether KMNO holds the $0.040 support level. Analysis suggested that holding above this level could allow for consolidation or a modest rebound toward $0.045; a break below risks a slide toward the next support near $0.035.
On-chain volume and exchange flows around the unlock itself, which can help gauge whether the newly unlocked supply is being absorbed by buyers or adding to selling pressure.
Whether broader market deleveraging conditions stabilize. Since the immediate price pressure was attributed mainly to macro liquidations rather than KMNO-specific factors, a broader market stabilization could matter more for near-term price than the unlock alone.
Funding rates in KMNO derivatives markets. Continued negative funding following the liquidation event could indicate persistent bearish positioning; a normalization could suggest the flush has largely run its course.
How to Track Future KMNO Unlocks
Since Core Contributors and Key Stakeholders/Advisors allocations continue vesting linearly on an ongoing basis, KMNO unlock events aren't a one-time consideration. For anyone tracking future releases:
Check Messari's token unlocks page or DefiLlama's unlock tracker for KMNO's live, upcoming schedule rather than relying on a single article's snapshot.
Cross-reference against Kamino's own official token documentation for the underlying vesting terms, since third-party trackers sometimes lag official updates.
Watch for weekly unlock roundup reports (like Odaily's), which track KMNO alongside other tokens with unlocks landing in the same window useful for understanding whether KMNO-specific supply pressure is coinciding with broader sector-wide unlock activity.
Conclusion
Kamino's September 30, 2026 unlocked roughly 230 million KMNO, worth around $10.6-10.8 million lands at a genuinely volatile moment for the token, coming just days after a 73% weekly rally reversed sharply amid broad crypto market deleveraging.
Available analysis suggests the unlock itself isn't the primary driver of KMNO's recent price action, but it is a real, additional source of supply pressure layered on top of an already turbulent stretch.
Given that Kamino's largest token allocations continue vesting monthly through their 24-month linear schedules, this particular unlock is best understood as one recurring data point rather than an isolated event.
Anyone tracking KMNO closely should watch whether the $0.040 support level holds through month-end, and keep an eye on future unlock dates via a live tracker rather than treating September 30 as a one-time consideration.
FAQ
When is Kamino's next token unlock?
Based on available reporting, Kamino's next scheduled unlock is September 30, 2026, releasing approximately 230 million KMNO tokens.
How much is the September 2026 KMNO unlock worth?
Estimates range from approximately $10.64 million to $10.8 million, depending on KMNO's price at the time each figure was calculated, both reflect the same 230 million token amount.
Why does KMNO keep having token unlocks?
KMNO's two largest allocations Key Stakeholders & Advisors and Core Contributors, together 55% of total supply both follow a 12-month lockup followed by 24 months of linear vesting after the April 2024 TGE, meaning unlocks recur on an ongoing monthly basis rather than as a single event.
Did the September unlock cause KMNO's recent price drop?
Not primarily, according to CoinMarketCap's AI analysis, which attributed KMNO's September 29 decline mainly to broad crypto market deleveraging and leverage unwinding, while noting the upcoming unlock as an additional supply-side factor to watch heading into month-end.
What is KMNO's total token supply?
KMNO has a total supply of 10 billion tokens, with an estimated initial circulating supply of 1 billion (10%) at its April 30, 2024 TGE.
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