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      UsePaid Launches Claims Portal After $PAID Token Drops 38% Due to X Money Issues

      UsePaid, a protocol built on the Solana blockchain, has introduced a claims portal following a significant drop in the value of its native token, $PAID. The token experienced a 38% decline after X Money, the payment integration used by UsePaid, faced overwhelming demand during a single day when claimed fees surged to $1.54 million, approximately 26 times the amount processed the previous day. This spike in activity led to processing issues, prompting UsePaid to temporarily pause payouts through X Money.

      The protocol, which automatically routes creator fees from token launches to X accounts, was launched just two weeks prior to the incident. The fee structure allows creators to receive 80% of the fees while 20% is used for a buyback-and-burn mechanism for $PAID tokens. This model initially drove the token's value up by over 410% since its launch in mid-September, attracting attention from influencers and investors alike. However, the sudden influx of claims on September 27 caused significant disruptions, leading to a cap on payouts at $750 per recipient per day while the team sought a solution.

      In response to the payout issues, UsePaid launched the claims portal on September 28, allowing recipients to withdraw their earnings directly to Solana wallets, bypassing X Money entirely. Prior to the suspension of payouts, cumulative distributions through UsePaid had already exceeded $1.4 million to various accounts, including those of influencers and public figures. The rapid increase in claimed fees was attributed to a self-reinforcing cycle where more token launches led to increased awareness of unclaimed funds, further accelerating claims. The incident underscores the close relationship between the operational reliability of UsePaid and the market value of $PAID.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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