Solana Mobile Reports More Than 1.1 Million SKR Tokens Burned

Solana Mobile has burned more than 1.1 million Solana Mobile Seeker (SKR) tokens since Oct. 15 through a daily program tied to ecosystem revenue, while the token’s stated first-year inflation schedule is 1 billion SKR.

The cumulative burn figure exceeded 1.1 million SKR as of Nov. 3. The program uses a portion of validator staking commissions and Seed Vault Wallet fees to buy SKR on the open market, then burn the purchased tokens onchain. Wallet revenue can include fees from swaps and the USDC Earn Vault. The first daily purchase, on Oct. 15, acquired and burned 60,885 SKR. The initial monthly order was funded with $24,573 in USDC.

Funding is organized by month rather than as a fixed daily token allowance. Each month’s burns draw on wallet revenue from the previous month, combined with a share of earlier revenue spread across 12 months. The program uses only a portion of validator commissions and wallet fees, so the amount available for token purchases depends on past revenue. Because the formula looks to monthly income, the first day’s 60,885 SKR does not establish a recurring daily purchase size.

The scale of the burn matters alongside the token’s issuance plan. SKR’s initial supply is 10 billion, with first-year inflation set at 10%, or 1 billion tokens. The inflation schedule calls for the rate to decline by 25% annually until it reaches 2%. More than 1.1 million tokens burned is small compared with the first-year inflation amount, so the burn figure alone does not establish that SKR’s overall supply is shrinking.

SKR also supports governance, and holders can stake it to Guardians. Those Guardians verify devices and curate the dApp Store. The program operates separately from staking, and staking rewards remain unchanged. The mechanism links token removal to revenue from validator and wallet services while leaving staking rewards unchanged.