Magic

Creator fees for X accounts, paid in US dollars into X Money.

Whitepaper · version 2.0 · September 2026

Abstract

Magic lets anyone launch a coin on BNB Chain for any X account and pays that coin's creator fees to the person behind the account: in US dollars, deposited by ACH into their X Money balance, or in BNB to a wallet if they prefer. The person being paid never claims, never posts and never opens an account anywhere. They sign in with X once and add their X Money details once, and every coin that names them pays them from then on. Nothing they are owed expires.

Coins launch on Flap, the BNB Chain launchpad, from the Magic site. Every coin launched through Magic pays its creator fees to one contract, the MagicTreasury, and is registered on chain to the X account it names. Each fee payment is an on-chain event, so anyone can recompute what every coin earned and what every creator is owed. Magic pays creators from the treasury in cycles: 90% to the creator, 10% to Magic. For dollars, the creator's share is converted to USDC, moved to Base and sent to the creator's own Bridge liquidation address, which pays it out as US dollars by ACH into their X Money account. Every payout is a public on-chain event, listed on the proof page with its transaction and, for dollars, its ACH trace number.

Magic is the upgrade of UsePaid, the fee bridge that pays pump.fun creator fees to X accounts through X Money. It keeps what works (a coin names an X account and the money reaches the person as dollars) and rebuilds what sits underneath: every coin's income is recorded on chain, the named account receives 90% instead of 80%, nothing expires, and the dollars travel by ACH straight into each creator's own X Money account instead of being sent person to person from UsePaid's own X Money balance.

1. Magic and UsePaid

UsePaid, as its site usepaid.app described it on 21 September 2026, works like this. A coin launched on pump.fun, on Solana, points its creator fees at UsePaid's treasury and names its recipient with the line "Fees to @handle via UsePaid" in the coin description. The fees of all coins pool in that treasury, and each coin's share is kept in UsePaid's database. 80% goes to the named account and 20% buys and burns UsePaid's $PAID token. The SOL is sold on Kraken, the dollars move by ACH into the X Money balance of UsePaid's own account, @UsePaid, and are sent from there person to person. A handle without X Money receives a claimable payment that "usually" expires within 14 days. Expired payments fund the $PAID buyback.

Magic upgrades it on six points:

• A venue built for it. Magic launches on Flap, on BNB Chain, where every coin's creator fee is paid on chain to the MagicTreasury and the coin is registered to its X account right after launch.
• Every coin's income on chain. Each fee payment is a FeeReceived event from the paying coin's Flap tax processor, and each coin's X account is recorded on chain. The ledger is on chain, where anyone can rebuild it.
• 90 / 10 instead of 80 / 20. The named account receives 90%. Magic's 10% also carries the cost of converting and paying out, so the creator's 90% is not reduced by it.
• Nothing expires. A creator's share waits in the treasury under their handle for as long as it takes them to arrive.
• A banking rail into the creator's own account. Bridge pays each creator by ACH straight into their own X Money account and routing number. No X Money account of Magic's sits in between, and every deposit carries an ACH trace number.
• Dollars or a wallet. A creator who prefers crypto receives BNB to their own wallet.

The full comparison, row by row, is in Magic and UsePaid.

2. The problem

Coins named after real people are launched every day. Many of them promise their trading fees to the person they are named after, and almost none of that money arrives. The reasons are mechanical:

1. The money goes to a wallet the person does not have. Most people on X do not hold a self-custodial wallet, and asking them to create one before they can be paid means most never will.
2. Every coin is its own chore. Existing tools ask the recipient to prove themselves once per coin. A person named by twenty coins has twenty separate claims to make.
3. The money expires. Existing gift vaults on BNB Chain forfeit a coin's fees after seven days without a claim. A person who hears about their coin on day eight has nothing to collect.
4. Crypto is the wrong currency for most recipients. Even a willing recipient has to find an exchange, sell, and withdraw to a bank before the money is usable.

3. What Magic does

Two payout modes, chosen by the creator:

• Dollars to X Money, the default. The creator's share is converted to USD and deposited into their X Money account by ACH.
• BNB to a wallet, for creators who prefer crypto. The creator's share is paid from the treasury, in BNB, to the wallet they enter after signing in with X.

4. How it works, end to end

 Trader buys or sells the coin on Flap
        │  the coin's tax is collected in BNB
        ▼
 The coin's Flap tax processor pays the creator fee
        ▼
 MAGICTREASURY · one contract for every Magic coin
        │  each payment emits FeeReceived(tax processor, amount)
        │  each coin is registered to its X handle
        │
        │  every payout cycle: 90% of each creator's fees paid out,
        │  10% kept by Magic, each payout a Payout event
        │
        ├── Wallet ──► BNB to the creator's wallet
        │
        └── Dollars ─► BNB → USDC on BNB Chain → Base
                          ▼
               the creator's Bridge liquidation address
                          │  Bridge converts USDC → USD, pays by ACH
                          ▼
               the creator's own X Money account

4.1 Launch

A launcher picks a name, ticker, image and the X account the coin is for. The launcher's own wallet launches the coin on Flap, with the MagicTreasury as the coin's creator-fee beneficiary. Right after the launch, the launcher calls registerCoin (the Magic site does this in the same flow), which records the coin against the X handle and the account's numeric X user id.

4.2 Fees

Every trade pays the coin's tax. Flap's tax processor for the coin sends the creator share, in BNB, to the MagicTreasury. The treasury accepts it and emits FeeReceived, naming the tax processor that paid. Because each registered coin's tax processor is known on chain, every payment is attributed to its coin and, through the registration, to its X account. Fees that arrive in the moments before registration are attributed the same way.

4.3 Payout cycles

Magic runs payouts in cycles, on banking days. For each cycle, the settlement service sums each creator's fees from the FeeReceived events of their coins, takes the creator's 90% of that total, subtracts what has already been paid to them, and pays the rest:

• Wallet mode: BNB from the treasury straight to the creator's wallet.
• Dollar mode: the creator's share leaves the treasury, is swapped to USDC on BNB Chain with a quoted minimum output, moves to Base, and is sent to the creator's Bridge liquidation address as one USDC transfer per creator per cycle.

Magic keeps the other 10%. A creator is paid once their balance passes the payout minimum; below it, the balance simply carries into the next cycle.

The service's ledger is keyed by the on-chain event that produced each entry, so a fee is counted exactly once, however many times the service restarts. Each dollar payout moves through a write-ahead state machine, queued → released → sent → confirmed → paid: released means the treasury Payout is final, confirmed means the Base transfer is final, and paid means Bridge reports the payout payment_processed, the state in which it adds the ACH trace number. A crash between any two steps can delay a payout but can never pay it twice.

4.4 Getting set up

A creator's only task is to tell Magic where to pay:

1. Sign in with X. This proves which account they hold and gives Magic its numeric user id, the id recorded for their coins.
2. Add X Money details once: account number, routing number, legal name and address, all shown in the X Money settings. Magic registers them with Bridge and creates the creator's liquidation address. Only the last four digits are ever shown back. A creator who prefers crypto enters a BNB wallet instead.

Until then, the creator's share accumulates in the treasury under their handle. It never expires.

X Money is offered to US residents. Creators outside the United States use wallet mode, which works the same everywhere.

5. The MagicTreasury contract

One contract on BNB Chain receives the creator fees of every coin launched through Magic and holds them until they are paid out. Its address is shown on the proof page.

Properties:

• Money in is never refused. receive() only records the payment, so Flap's payment always lands.
• Only coins that pay the treasury can be registered. The check in registerCoin reads the coin's tax processor on chain.
• Every outflow is a Payout event. payout and payoutBatch are the only way money leaves the treasury, and only the owner can call them. Magic's own 10% leaves the same way, in public.
• Two-step ownership. Control moves only when the new owner accepts it, so the treasury can be handed to a multisig without any risk of a mistyped address taking it.
• Not upgradeable. The code that holds the fees is the code on chain, and nobody can swap it.

6. Checking it yourself

Every Payout to a creator carries a reference derived from their handle:

ref = keccak256(handle in lowercase, without the @)

@Alice  →  keccak256("alice")

From the chain alone, anyone can recompute any creator's balance:

1. Read the CoinRegistered history to find every coin registered to the handle, taking each coin's latest registration.
2. For each of those coins, read its Flap tax processor and sum the FeeReceived events it sent.
3. The creator's share is 90% of that total.
4. Subtract every Payout whose ref is the handle's hash. What remains is what the treasury holds for them.

The proof page runs the same computation and links every row to its transaction. For a dollar payout it also shows the swap, the Base transfer, the state of Bridge's drain and the ACH trace number, so each payout can be followed from the treasury to the creator's bank account.

7. Dollar payouts through Bridge

Each creator who chooses dollars gets a personal payout address: a Bridge liquidation address on Base, permanently bound to their X Money account, which Magic registers with Bridge as an external account under Magic's business customer. USDC sent to the address is converted to US dollars and paid by ACH in Bridge's daily batch, or by wire. X Money accounts carry their own account and routing numbers at Cross River Bank and accept direct deposits, so the dollars land in the creator's X Money balance like any payroll deposit, typically within 1–3 business days of the cycle that sent them.

Each dollar payout is tied together by identifiers that each side publishes: the treasury Payout on BNB Chain, the USDC transfer on Base, Bridge's drain for that transfer, and the ACH trace number of the deposit. Magic's payout cycle finishes its Base transfers before Bridge's 4:45 PM ET ACH cutoff, so each payout joins that evening's batch.

Every endpoint, field, state and timing of the integration, taken from Bridge's API documentation, is set out in How ACH payouts work through Bridge.

8. Economics

• The coin's tax rate is chosen at launch on Flap; the creator share of that tax is what Flap pays to the treasury.
• Receiving is free for creators. Conversion and payout costs, Bridge's charges included, are paid out of Magic's 10%, not the creator's 90%. Bridge withholds no developer fee from creators' payouts.
• Payouts run in cycles; a creator is paid once their balance passes the payout minimum.
• Nothing expires. Fees earned for an account wait in the treasury, however long it takes the person to sign in.

9. Operations

• Schedule. Payout cycles run on banking days and finish their Base transfers ahead of Bridge's 4:45 PM ET ACH cutoff. ACH payouts go out in Bridge's daily batch, wires the same day.
• Reconciliation. Every dollar payout is matched across its treasury Payout, its Base transfer, its Bridge drain and its ACH trace number. A payout that does not reconcile is held and investigated, never re-sent blind.
• Control. The treasury's owner is the Magic operator, the only account that can pay out or correct a registration. Ownership moves by two-step transfer, so it can be handed to a multisig. Bridge API keys are restricted to the scopes each Magic service needs.

10. Summary

A coin named after a person should pay that person. Magic makes it happen without asking them to learn crypto: the fees are collected on chain into one treasury, attributed to each X account by public events, converted to dollars and deposited by ACH into the creator's own X Money account, or paid in BNB to a wallet for those who want it. It takes the fee bridge UsePaid built and upgrades it: 90% to the creator, a standard banking rail into the creator's own account, nothing that ever expires, and a ledger anyone can recompute from the chain.

Magic is independent. It is not affiliated with, endorsed by or sponsored by X Corp., X Payments LLC, Bridge or UsePaid. X Money is a destination for payouts, not a partner. Bridge is Magic's payout rail for dollars, described here from its public API documentation. UsePaid and $PAID are named for comparison, from UsePaid's public site as read on 21 September 2026. Flap is the launchpad on which coins are created.