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Distribute incentives
Launch app
Distribute incentives
Launch app

Lending and borrowing

Launch incentive campaigns to reward users who supply or borrow crypto assets on protocols like Aave, Morpho, Euler, and more, including net lending and net borrowing strategies to avoid looping
Distribute incentives
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What you get

Net lending & borrowing Run incentive campaigns that reward net lenders and net borrowers only. Eliminate looping behaviors, reduce incentive leakage, and align rewards with real economic activity
  
No overpaying

Make sure you never overpay for liquidity by using a capped APR when creating your campaign. The APR will never exceed the set limit

  
Smart distribution

Thanks to our forwarding technology, reward users even when they deposit liquidity into the lending market through an intermediary (staking contract, lending aggregator, etc.)

 

  

Check live lending & borrowing campaigns

Explore the lending and borrowing campaigns currently live in the Merkl App. Review their parameters, track TVL and APR evolution, and see how they are performing.

 

Explore live campaigns
Aave-lending-campaigns-Merkl
INCENTIVIZE — ENGAGE — GROW —
INCENTIVIZE — ENGAGE — GROW —
INCENTIVIZE — ENGAGE — GROW —
INCENTIVIZE — ENGAGE — GROW —
INCENTIVIZE — ENGAGE — GROW —

Start incentivizing in seconds

1
Choose an asset

Specify the vault, market, or pool you want to incentivize
2
Select incentives
Set the rewards to be distributed (token, chain, amount, dates)
3
Launch campaign
Confirm options, details, and sign the transaction to start distributing incentives
Merkl stories

Discover how leading protocols leverage Merkl

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Aave
AaveRead case study
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Morpho
MorphoRead case study
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World Chain
World ChainRead case study

FAQ

What is Merkl? Merkl is the leading incentive and point management platform, backed by a16z. We help protocols, blockchains, and wallets boost liquidity across any DeFi venue. Since our launch in November 2023, we've distributed over $200 million in incentives across 50+ chains, with 200+ protocols. We're the team behind all Uniswap, Morpho, Euler, Arbitrum, and Optimism incentives.
How do incentive platforms work? Incentive platforms automate and optimize the distribution of rewards based on user activity. They connect users with web3 projects looking to boost activity and engagement. Users perform actions (hold token, supply liquidity,…) and earn rewards, while web3 projects boost their growth (TVL increase, user engagement,…). There are different types of incentive platforms: custodial, non-custodial, social-focused, DeFi-focused, etc.
What types of incentive campaigns does Merkl support?

Merkl supports a wide range of incentive campaign types across 50+ chains:

- Liquidity incentives for concentrated liquidity pools (CLAMM) like Uniswap v3 & v4

- Lending & borrowing incentives across protocols like Aave, Morpho, and Euler

- Airdrops (to a predefined list or users meeting specific criteria)

- Rewards for ERC20 token holders, based on their balance over time (e.g., LP token holders)

- Point systems to drive engagement and retention

And we're constantly expanding with new use cases!
Does Merkl charge fees?

Campaign creation comes with a 3% maintenance fee, except for airdrop campaigns, which have a reduced 0.5% fee. Merkl is free for retail users, aside from gas fees.

For custom or long-term incentive programs, reach out to us — we’d be happy to discuss tailored pricing!
What are the best incentive strategies?

Choosing the right incentive strategy depends on your goals and needs. For instance, during a token launch, it’s often best to hold off on incentives until the price stabilizes, whereas for a stablecoin, building a liquidity wall can be a smart move. These are just a couple of many possible approaches.

Additionally, optimizing a campaign also means selecting the right reward distribution model—whether it's a fixed reward rate, variable reward rate, or event-based rewards (e.g., swaps, follows on X, etc.).
How to get started with Merkl incentives?

Distributing incentives with Merkl is quick and easy. Just head over to Merkl Studio, set up your campaign parameters (amount, chain, dates, etc.), and launch it in a few clicks!

If you're planning a large-scale incentive program, need advanced customization, or have any questions along the way, feel free to reach out — we’re here to help!

Ready to get started?

Start incentivizing
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