Solana Mobile has launched an SKR buyback and burn program that has destroyed 1.2 million tokens since it began operating on October 15, 2026. According to ChainCatcher, the company said in a post on X that it transfers part of its revenue to a dedicated wallet, uses a series of on-chain orders to buy SKR on the open market, and burns the tokens on-chain.
Revenue for the program comes from the Solana Mobile validator, Seed Vault wallet redemptions, and the USDC Earn Vault. Since the launch of Seeker, portions of revenue from these sources have been allocated to buybacks and burns. The program does not pay returns to SKR holders or stakers, and staking rewards remain unchanged. All buybacks and burns take place on-chain.