The past 7 days have seen unprecedented levels of token generation on Solana. Solscan data shows that over 1.75 million new tokens have been created on Solana in the past week, marking the highest weekly total in the network's history. The proliferation of memecoin launchpads has made it much easier for Solana users to create new tokens on the network.
A brand new launchpad, Paid, went live yesterday, September 15, with an ambitious proposition: let crypto users support projects and receive creator fee distributions directly through their X accounts.
The Solana-based protocol has moved quickly. Its analytics dashboard shows almost $400,000 in total fees, 4,148 token launches, and 115 X payments since launch. While reminiscent of the model that BagsApp uses, which is tying royalties to meme creators, Paid’s claim to fame is the direct distribution to X without the need to claim the fees.
How Paid works
Paid connects a pump.fun token to an X handle. When someone launches through the platform, creator fees from that token route to Paid, which then converts the $SOL into dollars and sends the proceeds to the designated X account through X Money.
Users can launch through Paid's website by entering a token and selecting an X handle. They can also launch directly on pump.fun by placing an @handle in the token description and directing creator fees to Paid's treasury.
X generates a receipt when a payment settles, and Paid publishes the receipt on its payments feed. The protocol uses 80% of fees for payouts and allocates the remaining 20% toward $PAID buybacks and burns. Once enough funds accumulate, an automated worker uses Jupiter to purchase $PAID on the open market and burns the tokens.
The launchpad’s native token, $PAID, reached an all-time-high market cap of $20 million and currently trades around $12 million.
Paid also reports almost $80,000 worth of $PAID tokens bought and burned, representing 20% of recorded fees, while $8,110 has gone to recipients.
Offramping is Where Things Get Complicated
According to the protocol’s documentation, creator fees first move into its Solana treasury. When the 80% payout pool reaches $100, Paid sends the funds to Kraken. Kraken then converts the $SOL to USD and initiates an ACH withdrawal into Paid's X Money balance.
Paid says the process uses Kraken's Spot Trading API and that the only part it cannot accelerate involves ACH settlement, which typically takes 1 to 3 business days.
The protocol says some payments currently show as pending because launch activity has moved faster than ACH settlement. It says pending payments remain recorded and go out automatically as funds arrive.
However, community members have questioned whether the X Money portion actually operates through a public API.
Some posts claim Paid manually sends payments through an X account, while others have questioned whether the model can handle thousands of simultaneous payouts.
Paid's own explanation says it uses an enrolled security key for its payout worker.
The company has also stated that it is not affiliated with, endorsed by, certified by, or connected to X or X Money. Those details have raised questions about how the integration works and what permissions Paid has obtained.
Regulation and Scalability Questions
Some community commentary has also raised US money-transmission concerns because Paid receives creator fees, converts assets into dollars, maintains balances owed to recipients, and sends those funds to third parties.
Those posts do not establish that Paid has violated any law. The legal treatment would depend on the precise structure, entities involved, applicable exemptions, licenses, and any partnerships or authorizations behind the service.
The scalability question also remains open. Paid has already recorded 115 X payments against 4,148 launches, creating a substantial gap between tokens launched and completed payouts. Early figures alone cannot establish whether that gap reflects normal settlement timing, limited payment demand, or operational constraints.
Pump.fun remains Solana’s dominant launchpad with daily revenues often exceeding $1 million. With competitors such as Stonk.fun proving it is possible to, at least temporarily, gain market share, the Paid team will look to quickly establish product-market fit and work toward maintaining the traction they have gained so far.
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