Solana Mobile has burned 1.2 million SKR tokens through a daily open-market buyback program. The purchases are funded by validator commissions and transaction fees collected through its Seed Vault wallet. At the program’s launch on October 15, 2026, Solana Mobile spent $24,573 USDC to buy 60,885 SKR before burning them. The mechanism links ecosystem usage to SKR supply: higher revenue leads to larger buybacks and fewer tokens in circulation. Every transaction is recorded onchain and can be independently verified, while an incident involving a malicious application in Solana Mobile’s app store raises concerns about user trust.
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