Solana Mobile said in a post on X that its SKR buyback-and-burn program is now live. The company said the program has been running since Oct. 15, 2026, and has already burned a cumulative 1.2 million SKR.
According to the announcement, Solana Mobile moves part of its revenue into a dedicated buyback-and-burn wallet. Those funds are then used to place a series of on-chain buy orders for SKR in the open market, after which the purchased tokens are burned on-chain.
Solana Mobile said the funding sources include revenue tied to Solana Mobile validators, swaps in the Seed Vault wallet, and the USDC Earn Vault. Since the launch of Seeker, a portion of revenue from those sources has been allocated to the buyback-and-burn program.
The company also said the mechanism does not pay any yield to SKR holders or stakers, and staking rewards remain unchanged. It added that every buyback and burn transaction is carried out on-chain.
Solana Mobile said in a post on X that its SKR buyback-and-burn program is now live.
The company said the program has been running since Oct. 15, 2026, and has so far burned a cumulative 1.2 million SKR. Under the mechanism, Solana Mobile transfers part of its revenue into a dedicated buyback-and-burn wallet, uses those funds to place a series of on-chain buy orders for SKR in the open market, and then burns the purchased tokens on-chain.
Solana Mobile said the funding sources include Solana Mobile validators, swaps in the Seed Vault wallet, and the USDC Earn Vault. Since the launch of Seeker, part of the revenue from those sources has been allocated to buybacks and burns.
The company added that the buyback-and-burn program does not pay any yield to SKR holders or stakers, and staking rewards remain unchanged. All buyback and burn transactions are executed on-chain.
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