Solana Mobile has officially launched its SKR token buyback and burn program, which has been active since October 15, 2026. The initiative has already resulted in the cumulative burning of 1.2 million SKR tokens through on-chain transactions. The program operates by transferring a portion of Solana Mobile's revenue from sources including the Solana Mobile validator, Seed Vault wallet swaps, and USDC Earn Vault into a dedicated buyback-and-burn wallet. These funds are used to purchase SKR on the open market via on-chain buy orders, with the acquired tokens subsequently burned on-chain. Solana Mobile clarified that the buyback and burn mechanism does not provide yield to SKR holders or stakers, and existing staking rewards remain unchanged. All transactions within the program are executed transparently on-chain.