Solana Mobile Launches SKR Buyback and Burn Program, 1.2 Million SKR Burned to Date

November 4 – Solana Mobile posted on X that its SKR buyback and burn program is now live. The program has been running since October 15, 2026, and has burned a cumulative 1.2 million SKR. Solana Mobile transfers a portion of its revenue into a dedicated buyback-and-burn wallet, purchases SKR on the open market through a series of on-chain buy orders, and burns the purchased SKR on-chain.

Solana Mobile said the funding sources include the Solana Mobile validator, swaps in the Seed Vault wallet, and the USDC Earn Vault. Since the launch of Seeker, a portion of the revenue from these sources has been allocated to buybacks and burns. The buybacks and burns do not pay any yield to SKR holders or stakers, and staking rewards remain unchanged. All buybacks and burns take place on-chain.