x402 Payability Report 11

Full scan of 25 October 2026 (scan-20261025T051127Z). Base on chain demand for the 7 days to 25 October 05:11 UTC.

The landscape

49,677 pay per call resources across 2,714 hosts. 44,929 return a well formed 402, 4,460 cannot be paid with either verb, 222 unreachable, 43 malformed, 5 not payable, 13 skipped, 5 unknown. A PAYABLE verdict means the challenge is well formed and, on Solana, the destination account exists. It is not a claim about delivery or quality.

One host still skews the raw share

Raw payable share is 90.4 percent (55.6 percent a week ago). One large host drives the swing, this week upward after flipping most of its listings to a well formed 402. Excluding that host, 27,663 of 28,528 resources are payable, 97.0 percent, the same steady share as every previous week. We report both so neither reads as a real market shift.

Networks

Payable resources by network (a resource can accept several): Base 44,761, Solana 11,003, Polygon 7,727, Arbitrum 5,752.

Where the agent money goes

Seven days to 25 October 05:11 UTC on Base. Gross: 12,120.66 USDC over 348,321 transfers from 3,473 distinct paying wallets, median 0.01 USDC per call. 1,374 of 1,652 Base payTo received at least one payment. The ten largest payTo took 75 percent of the value. A week earlier: 10,349.33 USDC, 293,933 transfers, 3,249 wallets. Value up 17.1 percent, transfers up 18.5 percent, wallets up 6.9 percent.

Excluded: 81 transfers totalling 84,000.85 USDC sent to the zero address, to 0x...dEaD, or to a payTo with no positive catalogue price. They are not pay per call purchases.

Known answer: our own revenue wallet measured 10 transfers and 0.105 USDC in the same window, an exact match with our ledger.

Method change this week: strict attribution

A Transfer to a catalogue payTo now counts only when the same transaction carries a USDC AuthorizationUsed (EIP-3009) whose authorizer equals the Transfer sender, emitted at the log index immediately before that Transfer. Report 10 accepted any AuthorizationUsed in the transaction. We reran both weeks in full under both rules:

windowloose transfersloose USDCstrict transfersstrict USDC
Report 10 week293,93310,349.33293,92410,349.24
this week348,33212,120.76348,32112,120.66

The strict rule removes 9 and 11 transfers, about 0.003 percent of value. Report 10 stands. The loose rerun reproduces the Report 10 figures to the cent.

Who the payers are

classwalletstransfersUSDC
all3,473348,32112,120.66
monitors3232,556377.04
closed circuits33357,8033,844.72
everything else3,250257,9627,898.90

USDC and transfers add up exactly. Wallet counts overlap and do not add: a wallet that pays both a closed circuit payTo and an ordinary one is counted in both rows.

Monitors: wallets that paid more than 20 distinct payTo in the window, plus known probers that identify themselves (Lumiere, Lumi Trades, KertivoCensus).

Closed circuits: payTo whose outbound USDC over 30 days returns at least 80 percent of what their top payer sent them back to that same payer. 15 payTo met this, with 62,360 transfers and 3,875.64 USDC in. A seller testing its own endpoint looks the same on chain as one paying itself for ranking, so this is a measurement, not an accusation, and we do not name live hosts.

Everything else is demand that is neither a monitor nor a closed circuit: 7,898.90 USDC from 3,250 wallets. A distinct wallet is still not a distinct customer.

Shared payTo

243 payTo appear on more than one host (5,258.85 USDC) and 994 on more than one resource. All figures here are per payTo (wallet). They are not split across the hosts or routes a payTo serves, and a chain receipt alone does not say which endpoint delivered.

Scope

Base USDC only. Solana and other networks are not measured for demand in this report.