🟡 TEAM BUYBACK CONTINUES
We’ve just bought back another 2.6M $PAID
These tokens will be burned soon as part of our continued commitment to the community.
We keep building.
We don’t stop.
CA: 0xc31ae677e52d8c4d3def6b00affc9c3c19577777
We will take the fight directly to our competitors on-chain, while continuously improving our product day by day 💪
Something big is coming 🤌
0xc31ae677e52d8c4d3def6b00affc9c3c19577777
🔥The broader takeaway is probably the most interesting part:
Permissionless crypto rails and regulated fiat rails don’t automatically fit together.
If you want to integrate deeply with something like X Money, you ultimately have to operate with the standards expected of a payments business.
If the goal is truly permissionless distribution, an on-chain claim system using SOL or USDC may be a cleaner path.
The concept behind UsePaid is still interesting. The challenge now is finding an architecture where the crypto-native experience and the compliance requirements can coexist sustainably.
The situation around @UsePaid is more nuanced than simply saying “X banned crypto.”
X Money is a regulated payments product, which naturally means it has to take things like user consent, source of funds, spam prevention, and money-transmission requirements seriously.
That’s where UsePaid’s original model may have created friction: converting memecoin fees into USD and distributing them into X accounts, sometimes without the recipient actively requesting the payment. As volume increased, those compliance questions likely became much harder to ignore.
For now, what we actually know is that UsePaid said payments were “paused for payment issues.” That’s very different from confirming that X has permanently blocked the product or crypto altogether.
🫳
$PAID at $9M MCAP is still overvalued for an obsolete memecoin fee collection portal
Unless you think @XMoney would change their Acceptable Use Policy to bring them back online, I'd cut my losses
For context, they were in violation of 𝕏Money's Acceptable Use Policy against:
1. Spam
Engaging in mass promotional or unsolicited consecutive transactions (sending or requesting) to solicit attention or provoke a response.
2. Unauthorized Transactions
Using another user’s X Payments account without authorization including, making unauthorized transactions such as transferring or withdrawing funds.
3. Wholesale Currency or Cryptocurrency
Includes discounted currencies, digital currency, currency exchanges, currency transfers without required federal registration and/or state licensing.
You can read the full Acceptable Use Policy here: [https://t.co/Qm1lLjvQGV] 📌
🤏From a product perspective, though, there is an important lesson here.
A large part of UsePaid’s value proposition depended on access to a permissioned payment rail. Once that rail became uncertain, the product naturally became more dependent on its fee generation, buyback/burn mechanics, and the possibility of restoring or replacing the original distribution channel.
That doesn’t mean the idea is dead. But it does mean the risk profile has changed, and any valuation today includes a meaningful amount of speculation around what happens next.
We’re watching this evolution closely.
65% recipients. 25% buybacks. 10% protocol.
It reinforces something we also believe at SquarePaid: rewarding users matters, but so does building an economic loop that can sustain the product behind those rewards.
Users → Token → Product → More Users.
Different paths, same challenge. Keep building. 🟡
Our new claim system launched with our new fee structure.
Before: 80% recipient, 20% $PAID buybacks
Now: 65% recipient, 25% $PAID buybacks, 10% retained by the protocol
We believe this is the best balance between rewarding recipients and investing in the ecosystem.
More buybacks, more investment in the future of Paid.
Once we have more information regarding X Money we will update you guys!
Total fees paid by protocols on BSC 🏆
@flapdotsh — $1.06M 👏
Huge congratulations to the FLAP team! Proud to have SquarePaid built from FLAP.
Keep building, keep growing. 💚🚀