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Send any payout onchain

Merkl is the infrastructure used by stablecoin issuers, fintechs, tokenized funds, and exchanges to distribute yield, dividends, and rewards
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$1.6B+ distributed for 250+ companies, across 60+ chains

Distribute for any use case

Stablecoin yield

Distribute yield to stablecoin holders based on activity, in compliance with crypto regulationsLearn more →
Learn more →

Earn section

Power Earn sections in wallets, fintechs, and exchanges by adding yield on top of native ratesLearn more →
Learn more →

Tokenized assets

Distribute dividends, coupons, and yield to holders of tokenized shares, bonds, and funds

Private payments

Pay employees, contractors, and vendors onchain, without exposing addresses or amounts publicly

Reach users wherever they hold value

Merkl's forwarders trace beneficial ownership through any layer of nested smart contracts. Whichever asset qualifies users for a distribution, Merkl reaches its holders whether they keep it in a wallet or deposit it in lending markets, vaults, or staking contracts.

How forwarders work
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Plug into millions of onchain users

Merkl has distributed to 4M+ unique wallets, with 200,000+ monthly active users on the Merkl App, actively searching for extra yield. When you distribute through Merkl, your users land on a platform many already know, claim from, and trust.

Launch app
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Power a native experience with the Merkl API

Show Merkl yield in your dashboard. Embed the claim experience in your app. Pull live distribution data into your interface. The Merkl API exposes the full stack so your users see everything natively, never leaving your product.

Start integrating
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Merkl stories

How top companies distribute through Merkl

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TOUCH
Aave
AaveRead case study
merkl-stories-morpho
TOUCH
Morpho
MorphoRead case study
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TOUCH
Ethena
EthenaRead case study
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Trust Wallet
Trust WalletRead case study

Hear it from our clients

OKU
GettyOKU (GFX Labs)
"Merkl simplifies rewarding users for providing liquidity, whether directly to pools or through automated liquidity managers. This allows Oku users to easily claim their Uniswap v3 rewards without taking on additional smart contract risk."
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MarkOptimism
"Partnering with Merkl allowed us to scale our liquidity initiatives across multiple chains with ease, driving over $100M in added liquidity and $66 in TVL per OP token distributed. Their support was key to the growth of the Optimism ecosystem."
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MerlinMorpho
"Working with Merkl has been a real relief for our team. Instead of spending time and resources maintaining a complex in-house reward system, we can now focus fully on building the best lending experience."
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CharlieHourglass
"What convinced us to work with Merkl was their ability to adapt their architecture to our security requirements. They delivered a custom wrapper flow that made the refund seamless for users while ensuring Hourglass retained strict control over the vault at all times."
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MartinAave Chan Initiative
"Working with Merkl has made it much easier to run incentive programs on Aave. Their team is reliable, the integration is smooth, and it has allowed us to launch more ambitious rewards with less overhead."

FAQ

What is Merkl? Merkl is the onchain distribution infrastructure used by stablecoin issuers, fintechs, exchanges, tokenized funds, and DeFi protocols to send yield, dividends, and rewards to their users. Companies such as PayPal, Circle, Coinbase, SG-Forge, Kraken, and Morpho distribute through Merkl.
How does onchain distribution work? Onchain distribution infrastructure automates how companies send yield, dividends, or rewards to their users on the blockchain. Think of Merkl as a programmable paying agent for onchain finance: the platform identifies eligible recipients based on holdings or activity, then routes assets directly to them, even when those assets sit inside other smart contracts.
What types of distributions does Merkl support?

Merkl supports any onchain distribution across 60+ chains: yield to stablecoin holders, Earn product yield for wallets and fintechs, dividends and coupons on tokenized assets, extra yield to liquidity providers on DEX pools and lending markets, airdrops with custom eligibility, point systems. Our engine supports any new distribution logic on demand.
Does Merkl charge fees?

Standard distributions come with a 3% maintenance fee, with a reduced 0.5% fee for airdrops. Merkl is free for end users, aside from gas fees. For custom programs or long-term partnerships, reach out for tailored pricing.
What's the best distribution strategy?

It depends on your goals. Stablecoin issuers often distribute yield based on holding activity. Fintechs and exchanges layer Merkl yield on top of native rates in their Earn product. Tokenized fund issuers distribute dividends to holders. Optimizing also means choosing the right APR model: variable, fixed, capped, or target.

 
How do I get started with Merkl?

Head to Merkl Studio, set your distribution parameters (asset, chain, eligibility, dates), and launch in a few clicks. Have questions or need guidance? Our team is here to help, whether you're testing your first distribution or running a large-scale institutional program.

Ready to get started?

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