In total, 1,574 new campaigns launched and $14.8M in rewards were distributed during the month.
Here is everything that shipped and happened in June.
Several notable campaigns went live in June, bringing onchain yield to some of the biggest names in fintech and crypto:
Deel stablecoin wallet
Deel, the global payroll platform, lets contractors in Latin America hold their earnings in a dollar-backed balance. Contractors can now opt into Earn and earn rewards on that balance, accruing daily, with rewards calculated and distributed through Merkl via Sentora-curated Morpho Vaults on Tempo. A concrete step in bringing onchain finance into the world of fintechs and payments.
Coinbase cbETH incentives on Aave V3
Incentives went live for Coinbase cbETH on Aave V3. Users who supply cbETH to the Base market earn rewards distributed through Merkl.
Coinbase high yield USDC lending
A new way to lend USDC landed in the Coinbase app. Users deposit into the Steakhouse High Yield USDC vault on Morpho on Base, lent against dynamic collateral like Ethena USDe, and earn extra USDC rewards on top of the vault's native yield. Merkl calculates each depositor's share and distributes the payouts, so Coinbase users earn more on their USDC without leaving the app.
A new protocol joined Merkl in June:
DeFi Saver on Hyperliquid: DeFi Saver launched DFS Rewards Season 1, distributing $25K in incentives to its users through Merkl. Traders earned their share by trading on Hyperliquid via DeFi Saver, with volume and PnL both counting toward rewards.
June shipped meaningful updates for users of the Merkl App.
The Merkl dashboard now shows exactly how much you have earned through time, across all your reward campaigns. Track your rewards at a glance and see your earnings build up campaign after campaign.
See what you could earn before you deposit. The deposit simulator is now live on every opportunity page in the Merkl App. Enter any amount and instantly get:
Estimated earnings per month and per year
Merkl rewards and the pool's native yield, split out clearly
The Merkl App has a new notification center. A bell icon now sits in the app, with a red badge whenever something new is waiting, so users stay on top of the latest Merkl updates without leaving the app.
Protocol pages in the Merkl App now include an info card, accessible from the info icon next to the protocol name. At a glance, users get:
What the protocol does and its category, such as lending
Direct links to its audit reports
The protocol's TVL and the date it was listed on DefiLlama
Everything a user needs to assess a protocol before depositing, without leaving the app.
June showed Merkl operating where DeFi meets mainstream finance. Coinbase users now earn more on their USDC in the app they already use, Deel contractors earn rewards on their balances, and the Merkl App gives every user better tools to decide where to deposit and track what they earn. With 1,574 new campaigns and $14.8M distributed, the engine keeps running at full speed.
Don't miss next month's recap!