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Solana Mobile launches daily SKR buyback and burn program funded by ecosystem revenue

Solana Mobile has initiated daily SKR token buybacks and burns using ecosystem revenue, destroying 1.2 million tokens since the mechanism began in mid-October.

Solana Mobile dashboard displaying a total of 1.2 million SKR burned, alongside a weekly and cumulative token burn chart.
Image: @SolanaFloor

Solana Mobile has rolled out a daily buyback and burn program for its SKR token, dedicating a portion of ecosystem revenue to permanently retire tokens from circulation, according to reports from SolanaFloor and Crypto Briefing. The initiative has been active since October 15 and has already burned 1.2 million SKR.[1][2][3]

The repurchases are funded by validator staking commissions alongside Seed Vault Wallet fees collected from swaps and the platform's USDC Earn Vault. Ecosystem builder Solana Sensei stated that the 1.2 million SKR burned under the initiative so far was valued at roughly $15,000.[1][3]

Key facts

  • Solana Mobile launched a daily buyback and burn program for the SKR token funded by ecosystem revenue.
  • The program has destroyed 1.2 million SKR since starting on October 15.
  • Token burns are financed by validator staking commissions and Seed Vault Wallet fees from swaps and the USDC Earn Vault.
  • The 1.2 million burned tokens were valued at approximately $15,000, according to builder Solana Sensei.

Sources · 3 sources

  1. SO

    SolanaFloor@SolanaFloorPost on X ·

    BREAKING: @Solanamobile announces daily $SKR buybacks and burns, using a portion of ecosystem revenue. The program has already burned 1.2M $SKR since October 15, funded by validator staking commissions and Seed Vault Wallet fees from swaps and the USDC Earn Vault. https://t.co/gIEdI7nXH5

    Open source
  2. CB

    Crypto BriefingArticle ·

    Solana Mobile says daily SKR buybacks have burned 1.2 million tokens The SKR buyback program ties token supply to ecosystem revenue, potentially stabilizing value but reliant on sustained user trust and activity. The post Solana Mobile says daily SKR buybacks have burned 1.2 million tokens appeared first on Crypto Briefing .

    Open source
  3. SS

    Solana Sensei@SolanaSenseiPost on X ·

    Daily $SKR buybacks & burns are now live A portion of the Solana Mobile revenue is getting used for it. - burned 1.2M SKR so far (worth $15K) - been running since October 15 Great move into the right direction! Proud to have built Panda Merge on @solanamobile https://t.co/YxP4xLoOZj

    Open source