We are thrilled to announce that Angle Protocol’s Merkl platform is now integrated with Steer Protocol, thereby creating an exciting new landscape for our users to maximize their earning potentials. This strategic partnership opens up an array of opportunities for Liquidity Providers (LPs) and incentivizors across multiple chains and Automated Market Makers (AMMs) that we support, including Uniswap and SushiSwap.
Our commitment to expanding and integrating with different blockchains brings about an increased scope for our users. We currently support the Arbitrum, Polygon, and Optimism chains for reward programs, both of which provide high scalability and lower transaction costs, making them an ideal choice for DeFi transactions. This integration not only allows LPs on these chains to have access to the innovative Merkl platform but also to enjoy the benefits and features that Steer Protocol provides.
Polygon Incentives
| Protocol | Pool | Fee Tier | APR |
|---|---|---|---|
| SushiSwap | USDC-USDT | 0.01% | 4.6% |
| SushiSwap | USDC-DAI | 0.01% | 5.62% |
| Uniswap | USDC-agEUR | 0.01% | 31.63% |
| SushiSwap | WMATIC-USDC | 0.05% | 9.79% |
| SushiSwap | SUSHI-WETH | 0.3% | 1.82% |
| SushiSwap | WMATIC-WETH | 0.05% | 61.36% |
| SushiSwap | USDC-WETH | 0.3% | 16.57% |
| SushiSwap | USDC-WETH | 0.05% | 41.94% |
Arbitrum Incentives
| Protocol | Pool | Fee Tier | APR |
|---|---|---|---|
| SushiSwap | WETH-GMX | 0.3% | 143.5% |
| SushiSwap | RDNT-WETH | 0.3% | 89.21% |
| SushiSwap | WETH-SUSHI | 0.3% | 32.17% |
| SushiSwap | WETH-ARB | 0.3% | 23.86% |
| SushiSwap | axlUSDC-USDC | 0.05% | 21.75% |
| SushiSwap | MAGIC-WETH | 0.3% | 18.17% |
| SushiSwap | USDC-USDC | 0.05% | 14.29% |
| SushiSwap | DAI-USDC | 0.01% | 13.05% |
| SushiSwap | USDT-USDC | 0.01% | 11.1% |
| SushiSwap | WETH-USDC | 0.05% | 9.23% |
Understanding Merkl
Merkl is an innovative platform built by Angle Labs that incentivizes liquidity positions in a flexible and efficient way. It offers Liquidity Providers (LPs) the opportunity to receive token rewards from those incentivizing liquidity, known as incentivizors, in a highly customizable manner. This allows incentivizors to control how they distribute their incentives, and enables LPs to tailor their positions to maximize their earnings.
What Merkl Offers
Merkl boasts a number of improvements that make it a versatile and user-friendly platform. LPs can retain custody of their liquidity while receiving rewards and the platform accepts incentives of any ERC-20 token. Furthermore, Merkl is compatible with liquidity position management platforms like Steer Protocol. This means Steer users can provide liquidity via Steer on a pool and be rewarded without taking any further action.
Merkl Mechanism and Customizable Distribution Formula
At the heart of Merkl is an off-chain script that computes the rewards for all LPs according to the incentivizors’ preferences. Incentivizors can customize the reward distribution by adjusting parameters such as the amount of liquidity provided, the range set, and more. This adaptability makes Merkl an invaluable tool for incentivizors and LPs alike.
Liquidity Position Managers and Steer Protocol
Merkl works seamlessly with liquidity position managers like Steer Protocol. The system does not differentiate between managers and other addresses when computing rewards, providing a fair and straightforward process. This integration allows Steer users to directly claim their rewards from Merkl contracts, making it even more beneficial for them to use both platforms.
Distribution Epochs and Dispute Periods
Merkl operates on distribution epochs, varying periods over which the script runs for all the pools of a chain. This means that users can claim all their rewards once at the end of every epoch. To ensure accuracy and fairness, each Merkle root update is followed by a dispute period. During this period, anyone can contest the result of a distribution, safeguarding the integrity of the process.
Fee Structure
Merkl operates on a low maintenance fee of 3%, applied only to the incentives distributed. For Steer Protocol users and other LPs, there are no costs to claim rewards on the platform, making it an affordable and accessible way to earn more from their liquidity positions.
The Benefits to Steer Protocol Users
The integration of Steer Protocol into Merkl is an exciting development that brings a host of benefits to our users. Not only will Steer users be able to earn additional rewards through the Merkl platform, but they will also enjoy the flexibility and customizability that Merkl offers.
In conclusion, the integration of Steer Protocol into Merkl represents a leap forward in our commitment to provide our users with more ways to maximize their earnings. We invite all Steer users to explore this new opportunity and enjoy the benefits of these two innovative platforms working hand in hand.
