Merkl

Merkl is a DeFi incentive distribution platform built by Angle Labs that enables protocols, DAOs, and blockchains to create and manage reward campaigns across 60+ chains. It powers liquidity incentives, airdrops, lending/borrowing rewards, and token holder campaigns, reaching 10,000+ daily users. Merkl's offchain engine detects users holding assets even when locked in smart contracts, ensuring precise reward distribution.

Protocols configure reward campaigns for specific pools, and an off-chain engine computes per-address reward scores based on swap activity and LP behavior, then publishes Merkle roots on-chain for users to claim rewards.

DeFi protocols seeking to incentivize liquidity and liquidity providers looking to earn token rewards on concentrated liquidity positions.