“X Money payments are currently paused while we work through payment issues,” UsePaid said. “Existing balances remain safe, and fees will continue to accrue.”
The project said it is preparing a web-based claims portal as an interim solution.
There was a huge increase in creator fees flowing through the protocol. Hours earlier, UsePaid reported that approximately $1.54 million worth of fees had been claimed during a single 24-hour period.
That was roughly 26 times the amount recorded during the preceding day and, remarkably, exceeded the amount claimed during the entire previous seven days combined.
The increase had already forced UsePaid to introduce emergency restrictions. The protocol temporarily limited payments to $750 per recipient per day before pausing X Money payments entirely.
Pump.fun launch frenzy
UsePaid acts as a bridge between crypto-native creator fees and conventional dollar payments.
A Pump.fun token creator can direct 100% of a token’s creator fees toward the UsePaid treasury.
UsePaid detects the token and periodically claims its accumulated creator fees on-chain. The current agreement stipulates that 80% of each claim belongs to the designated X recipient. The remaining 20% is used to purchase the protocol’s Solana-based PAID token and burn it.
Someone can launch a Pump.fun coin, permanently redirect its creator fees to UsePaid and designate virtually any X account as the beneficiary. Trading then generates creator fees, and UsePaid converts the beneficiary’s share into dollars.
That arrangement has led to a wave of coins being launched around prominent X personalities.
The Pump.fun token generated enormous activity almost immediately. Pump.fun data captured during the surge showed approximately $37.2 million in trading volume and more than 13,000 holders.
UsePaid currently lists hundreds of tokens associated with some individual X profiles. Its dashboard, for example, recently showed 367 tokens naming @beffjezos and 764 naming Elon Musk’s account.
X Money, meanwhile, continues operating independently of UsePaid.
