PAID said its automatic fee-sharing tool for token creators has already distributed $1.44 million to X Money users, according to an official announcement cited by BlockBeats on Sept. 26. The setup was introduced after Paid launched a token issuance function on Pons on Sept. 19.
Under the structure described by the project, 80% of fees are sent to X users through X Money, while the remaining 20% is converted into SOL and used to buy back PAID. Issuers can trigger the fee transfer by adding an X handle to a project’s text description. The project also said public figures on X can receive distributions through X Money even if they have not registered with Paid or agreed to the process.
GMGN market data cited in the report showed PAID’s market capitalization on Solana had risen above $40 million. The token was up more than 360% over the past 24 hours, with trading volume reaching $32.8 million over the same period. On-chain data also showed that DeGods founder Frank DeGods bought PAID about four days ago, spending roughly $145,000 to $169,000 and holding tens of millions of tokens. BlockBeats said the token has seen sharp price swings and warned users to be cautious.
PAID has distributed $1.44 million to X Money users through its automatic fee-sharing tool for token creators, according to a Sept. 26 announcement cited by BlockBeats.
The update comes after Paid launched its token issuance function on Pons on Sept. 19. Under the mechanism described by the project, 80% of fees are sent to X users through X Money, while 20% is converted into SOL and used for PAID buybacks.
Issuers can send fees through X Money by adding an X handle in a project’s text description. The project also said public figures on X can receive fund distributions through X Money without registering for Paid or giving prior consent.
GMGN market data cited by BlockBeats showed PAID’s market capitalization on Solana had climbed above $40 million. The token was up more than 360% over the past 24 hours, while trading volume during the same period reached $32.8 million.
Separate on-chain data showed that DeGods founder Frank DeGods bought PAID about four days ago, spending roughly $145,000 to $169,000. He now holds tens of millions of tokens, according to the report.
BlockBeats warned that the token has seen large price swings and said users should stay cautious when investing.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
