Solana Mobile says daily SKR buybacks have burned 1.2 million tokens

The phone maker is using validator and wallet revenue to buy SKR on the open market and remove it from circulation every day Solana Mobile says it has burned 1.2 million SKR through daily buybacks. The purchases are funded by revenue its ecosystem generates. The program matters because it links SKR’s supply directly to how much the Solana Mobile ecosystem earns. More revenue means more buybacks. More buybacks mean fewer tokens in circulation. How the SKR buy and burn works The SKR Buy and Burn Program started on October 15, 2026. On November 3, Solana Mobile confirmed the program was live and running. By that November 3 update, more than 1.1 million SKR had been removed from circulation. Solana Mobile’s latest figure puts the cumulative total at 1.2 million SKR. The money comes from two places. One is the commission Solana Mobile earns from validator staking. The other is transaction fees collected through its Seed Vault Wallet. A slice of that revenue goes toward purchasing SKR on the open market each day. The purchased tokens are then burned, meaning they are sent somewhere they can never be spent again. The very first transaction landed on the program’s launch day. Solana Mobile...