Solana Mobile has announced a daily program that buys SKR on the open market and burns the purchased tokens. The company said on November 3 that the program had been running since October 15, removing more than 1.1 million SKR by the announcement date.
The purchases are funded by a portion of revenue from the Solana Mobile validator and Seed Vault Wallet. That includes validator staking commissions and wallet fees from swaps and the USDC Earn Vault, tying spending on buybacks to activity across the mobile ecosystem.
The first monthly order was funded with $24,573 USDC. Its opening daily purchase on October 15 bought and burned 60,885 SKR, and Solana Mobile says purchases have continued every day since.
Users can follow the transactions through the program’s public wallet and burn tracker. The dashboard says each month’s budget draws on the previous month’s wallet revenue, plus a share of earlier wallet revenue spread over 12 months.
SKR supports governance and staking within the platform, whose token distribution has included rewards for Seeker users. Its tokenomics set an initial supply of 10 billion SKR and first-year inflation of 10%, declining toward a terminal annual rate of 2%.
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