I have appointed Austin, a longtime shareholder and active community member, as custodian of the KmikeyM degen account, effective immediately.
The degen account exists because of something strange that happened earlier this year. Someone created a $KMIKEYM token on bags.fm (a Solana-based memecoin trading platform) without my knowledge or permission. The token took off. People started trading it. I claimed the creator fees and found myself earning real money from a community I never sought but genuinely enjoyed.
A shareholder vote determined that 5% of those earnings would go into a dedicated KmikeyM account — the degen account. It is a living artifact of the bags.fm experience, and it bridges two very different communities: the rapid-fire chaos of memecoin traders and the long-term, deliberative world of KmikeyM shareholders.
The degen account holds both shares and cash. It has voting rights. It is, in every functional sense, a participant in the KmikeyM system. The question was always: who manages it?
Why Active Management
I weighed three options: manage it myself, let it sit as a static position, or hand it to someone who could give it the attention it deserves. I chose active management. Once I made that decision, one candidate stood out.
Why Austin
Austin has been a KmikeyM shareholder for years. He is no passive holder. He has served as a financial representative in Canada, processing transactions on behalf of Canadian shareholders to reduce the international fees that would otherwise eat into small purchases. I have met him in person. He participates actively in the community on Discord and has direct experience in the crypto markets from which the degen account was born.
That combination made the appointment obvious: long-term commitment to KmikeyM, operational trust already demonstrated, real community presence, and relevant trading experience.
The Role
Austin will serve as custodian of the degen account, acting as a profit-motivated market maker in the KmikeyM share market. His mandate: use the account’s holdings, both shares and cash, to trade actively, providing liquidity and acting in the best interest of the token holders who created this account in the first place.
He is the custodian of the account’s shares, money, and votes. He will act to the best of his ability on behalf of the community that made this possible.
The Terms
This is not a salaried position. Austin gains insight into the mechanics of KmikeyM’s market and the ability to operate as a market maker with the degen account’s book. Though he receives no direct compensation, we expect this experience and access will let him operate his own personal trading account more profitably.
Austin will update shareholders and the degen community on an ad-hoc basis, driven by trading activity rather than a fixed schedule. When something is worth reporting, he will report it.
The role lasts as long as both Austin and I agree it is a good fit. This is my appointment, not a shareholder vote, though as always, shareholders can make their feelings known.
What This Means
The degen account was always meant to be more than a line item. It represents the idea that a 17-year-old governance experiment can absorb energy from the wildest corners of crypto without losing its identity — that fast and slow are not opposites but complementary speeds within the same system.
With Austin in this role, the account stops being a passive monument to the bags.fm era and becomes an active participant in the KmikeyM market. The account’s current holdings (shares, cash, and votes) are visible to any shareholder through the platform.
The degen community built something by accident. Austin’s job is to make sure it keeps working on purpose.
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