The UsePaid service, which converts token fees into dollar payments, has temporarily suspended payments via X Money. This is due to a sharp increase in fees triggered by the launch of Pump fun tokens. The suspension was announced on Sunday. “X Money payments are currently suspended while we work on solutions to payment issues,” – stated UsePaid. Meanwhile, existing balances remain secure, and fees will continue to accumulate. The company is currently preparing a web portal for application submissions as a temporary solution.
The amount of fees passing through the protocol increased to $1.54 million in 24 hours, approximately 26 times more than the previous day, and significantly exceeded the amounts reported for the previous seven days combined. This increase has already forced UsePaid to implement emergency restrictions. The protocol temporarily limited payments to $750 per recipient per day and then completely suspended payments via X Money. UsePaid functions as a bridge between fees from token creators and traditional dollar payments. A Pump fun token creator can redirect 100% of fees to the UsePaid treasury. The system detects tokens and periodically claims accumulated fees. Under the current agreement, 80% of each claim belongs to the designated X recipient, while the remaining 20% is used to purchase the Solana-based PAID token, which is then burned.
As Pump fun tokens have gained popularity, they have generated massive activity. Pump fun data during the boom phase showed a trading volume of approximately $37.2 million and over 13,000 holders. UsePaid is currently tracking hundreds of tokens linked to various X profiles. For example, its dashboard recently displayed 367 tokens named after @beffjezos and 764 tokens named after Elon Musk's account. X Money continues to operate independently of UsePaid.
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