Never pay more than your earn
Align rewards spend with real user adoption. Commit to a capped APR within a fixed budget, and let Merkl automatically adjust rewards based on the actual liquidity delivered. Pay only for the liquidity you actually attract, nothing more.
Reward users everywhere at once
Reward your stablecoin users across multiple apps, protocols, and chains instantly. Merkl supports most DeFi protocols, including top lending platforms such as Aave, Euler, or Morpho, letting you reach users everywhere in one go.
Drive adoption while staying compliant
Drive adoption by rewarding your stablecoin users with Merkl. Direct yield distribution is prohibited under MiCA and GENIUS, but reserve-funded reward programs enable user incentives within the regulatory framework.
Integrate smooth, automated rewards
Deliver a smooth, fully embedded rewards experience directly within your product using Merkl’s API. Enable automatic reward claiming for all eligible users, with no manual steps required. Run reward campaigns in private mode to redistribute yield across multiple partners at scale, without exposing the terms of individual deals.
Check live stablecoin campaigns
Explore the stablecoin campaigns currently live in the Merkl App. Review their parameters, track TVL and APR evolution, and see how they are performing.
How Ethena leverages Merkl to reward its users
Ethena and Merkl built a sophisticated liquid leverage program on Aave to enable USDe holders to earn rewards.