Merkl is the onchain distribution infrastructure used by stablecoin issuers, neobanks, fintechs, exchanges, tokenized fund managers, and DeFi protocols to send yield, dividends, and rewards to their users. Think of Merkl as a programmable paying agent for tokenized finance: companies define their distribution parameters (asset to distribute, eligibility criteria, schedule, APR model), and Merkl handles the rest, routing assets to eligible holders wherever they sit onchain. The more complex the distribution, the more Merkl matters: logic that would mean a custom build becomes a set of parameters. Clients include PayPal, Circle, Coinbase, SG-Forge, Kraken, and Morpho. What sets Merkl apart: • Programmable distribution logic: variable, fixed, capped, or target APR • Granular eligibility: wallet balance, holding duration, OFAC checks, KYC, and more • Forwarders that trace beneficial ownership through nested smart contracts, so distributions always reach the actual end user, not the intermediary contract holding the position • An API that exposes live yield and claim data, so distributions can be embedded directly inside your product Whether you're distributing stablecoin yield, paying dividends on tokenized assets, powering an Earn section in a wallet, or running a targeted airdrop, Merkl is built for it.
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Merkl reposted this
If you want to understand how incentives work in onchain finance, the Merkl dataset is the place to look.
37% of Merkl opportunities reward lending, 35% liquidity provisioning. Merkl's blockchain data covers what onchain activity companies actually incentivize, from holding to borrowing and more. 👉🏼 Dive into the data on Merkl Analytics: https://lnkd.in/eMzPCQQ4
AI agents now account for up to 7.5% of traffic on Merkl's apps. Getting them accurate, up-to-date data is now part of how we build our products. Our Head of Product Xavier Kleitz shares how we made Merkl agent-readable.
A lot of AI conversations start with “What work can we automate?” At Merkl, we’ve been asking another question: “How could AI change the way people use our product?” That led us to three use cases: - helping agents read Merkl - helping users understand opportunities - helping campaign creators turn an objective into a configuration They are at different stages. We have production observations for agent readability, AI search helps users navigate opportunities, and we’re working on translating incentive campaign objectives into proposed settings. Main results are: - AI agents are up to 7.5% traffic on our apps. - One SEO crawler pulled more Markdown than every AI assistant combined - ChatGPT referrals roughly tripled in September, while Google stayed flat The article covers the architecture we built with our tech lead Clément SAUNIER over the past months, how we measure accuracy and the checks I'd run from day one.
37% of Merkl opportunities reward lending, 35% liquidity provisioning. Merkl's blockchain data covers what onchain activity companies actually incentivize, from holding to borrowing and more. 👉🏼 Dive into the data on Merkl Analytics: https://lnkd.in/eMzPCQQ4
Negotiated liquidity deals are everywhere in onchain finance: a fund, a market maker, or a high-net-worth individual commits capital to a market in exchange for an agreed rate 🤝🏼 The settlement side has not caught up: manual tracking, debates over the numbers, and payments weeks after the liquidity was provided. Running the deal as a private Merkl campaign fixes this. A neutral engine computes what each party is owed, payment streams in real time from a budget deposited upfront, and the deal stays fully confidential. Already used in production by leading stablecoin issuers. Full guide: https://lnkd.in/e4xZ8H4U
Stablecoin payouts beat bank rails. Paying contributors across dozens of countries used to mean thousands of individual payments, an FX margin on each one, and a bounced transfer investigation every cycle. Stablecoins remove the FX margins and the settlement delays. But going onchain alone does not solve the scale problem: most tools still push thousands of individual transfers, one per recipient. 👉🏼 Merkl does. One transaction funds the entire payout: recipients receive the full amount wherever they are, within hours, and the funds can stay in your own account until each of them claims. Our new guide compares stablecoin payouts with traditional payout providers: cost structure, speed, failure modes, compliance, and where each rail wins. https://lnkd.in/eijbmuP8
DeFi incentives used to mean exposure: public leaderboards, visible rewards, traceable balances. Not anymore. Confidential incentive campaigns for confidential vaults are now live on Merkl, powered by Zama. Earn rewards without exposing your position. Read more on our blog: https://lnkd.in/es8eZxvt
Merkl reposted this
The team at Merkl added support for ERC-7984, the confidential token standard, to their platform. As a result, users depositing confidential tokens into vaults can now claim their Merkl rewards in confidential tokens too. Position private. Reward private. Pablo Veyrat, CEO of Merkl, on why incentives and confidentiality were hard to combine:
We now support ERC7984, Zama's confidential token standard. DeFi went confidential. Incentives just followed. https://lnkd.in/es8eZxvt
The first confidential incentive campaigns onchain are live! We now support ERC7984, Zama's confidential token standard. Rewards are computed on encrypted balances: users see an APR on the Merkl App and earn, while their position, their rewards, and the leaderboard never appear publicly. For institutions, this closes a structural gap. Confidential assets could not run the incentive programs that bootstrap every onchain market without exposing the very balances they exist to protect. Now they can: any team building on the Zama Protocol can launch targeted campaigns with confidentiality intact end to end. How it works below 🔗
Merkl supports the Arc network from day one. Arc mainnet is live: an open, EVM compatible Layer 1 launched by Circle, with stablecoins as gas, starting with USDC. Any team building on Arc can now distribute incentives through Merkl, like 1000+ companies already do across 60+ chains.