Welcome to the very first edition of the Merkl Monthly Recap! At the start of each month, we’ll recap everything that happened across the Merkl ecosystem in the previous month, from newly supported chains and integrated protocols to exciting features for both DeFi users and incentive campaign creators.
December 2025 was packed with updates: we added X Layer to our list of supported chains and integrated the TownSquare protocol. Users can now enjoy features like native APR visibility, stablecoin/BTC/ETH/ filters, and a bridge powered by LI.FI, while creators can streamline campaigns with tools like batch creation, cross-chain ERC20 campaigns, and boosted reward mechanics.
Dive in to see all the ways Merkl is leveling up your experience this past month!
Reward programs
Several major reward programs ran throughout December and will continue into the new year:
Chains supported
X Layer was added to Merkl in December, allowing protocols to launch incentive campaigns based on DeFi activity on the chain.
Protocols integrated
TownSquare, a leverage and yield market on Monad, joined Merkl in December.
Other updates include:
- Covenant forwarding and Summer Finance staking contract now supported
- New protocols launched their first campaigns: Clober, Arcadia Finance, Capricorn
New features
December brought exciting new features for both users and campaign creators.
For users
Protocols’ native APR visibility
See protocols’ native APR directly in the Merkl App alongside Merkl reward APR for a complete view of potential earnings. Not all protocols are supported yet. Instructions to add your protocol are available in the Docs.
Stablecoin / BTC/ ETH filters
Filter opportunities by asset type to quickly find stablecoin, BTC, or ETH opportunities.
Bridge powered by LI.FI
Swap and bridge assets directly within the Merkl App. This allows users who don’t hold the required token for an opportunity to acquire it without leaving the Merkl ecosystem. The bridge is powered by LI.FI.
Delegate claim execution
Users can now access an advanced feature from their dashboard that lets them delegate the execution of a claim transaction to another address. Rewards are still received by the address that participated in the opportunity, only the claim execution is delegated.
For protocols
Batch campaign creation
Campaign creators can now create incentive campaigns in batches using Merkl Studio, with the option to start from existing templates for added simplicity. This new campaign creation flow is currently in beta.
Cross-chain ERC20 campaigns
Reward users based on the total balance of a specific token across multiple chains.
Reward slashing
Slash rewards if a user’s balance decreases during the campaign. For each address, the maximum balance observed is stored. If the balance drops, pending rewards are reduced proportionally, and the maximum balance is updated to the new lower value.
Private campaigns
Campaigns can now be hidden from the Merkl App and API. Access is only possible via shareable links for participants and creators.
Reward only users under a balance threshold
Only users below a certain token balance at a given time will be eligible for rewards, making it easier to target new users.
Boost rewards based on position duration
Rewards can be boosted based on how long users have held a liquidity position. For example, full rewards may require holding assets for at least 6 months. Partial rewards can apply for shorter durations (e.g., 3–6 months), while holdings under 3 months may earn nothing.
Minimum reward eligibility
Dust rewards have been removed. Addresses with less than 1 bnth in campaign rewards are no longer eligible, preventing operational issues during very large airdrops.
Forward rewards only for selected tokens
Previously, reward forwarding applied to all tokens for a given forwarder. It is now possible to forward only specific tokens, providing more granular control.
Simplified net lending campaigns on Aave
Previously, net lending campaigns relied on the multilog_dutch campaign type, which was complex for campaign creators and prone to errors, often requiring intervention from the Merkl team. A new wrapper simplifies setup: creators now only need to specify a lending token and a list of borrow tokens.
Conclusion
December 2025 marked an important step forward for Merkl, with meaningful improvements across the entire product, from better discovery and usability for LPs to more powerful and flexible tooling for campaign creators.
As we head into the new year, we’ll continue to expand Merkl’s capabilities and supported ecosystems. Stay tuned for next month’s recap!
