Savvy integrates Merkl to streamline reward distribution
Rewards for the frxETH-svETH and FRAX-svUSD pools on Uniswap v3 are now split between Bunni and Merkl. Merkl side is coincentivized with both SVY from Savvy and additional ARB rewards from the FRAX Short Term Incentive Program. Bunni side is still coincentivized with SVY from Savvy.
Merkl, developed by Angle Labs, is a platform designed to incentivize liquidity by allowing customization of reward distribution on concentrated liquidity pools like Uniswap v3. Merkl operates through an off-chain script that analyzes on-chain data of incentivized pools, computing rewards for liquidity providers (LPs) using trust-minimized merkle proofs based on various parameters like fees earned, the amount of specific tokens held, and optional boosted rewards for holders of certain tokens (like veSVY). Due to the off-chain nature, it never touches the LP funds and doesn’t introduce any additional smart contract risk.
This integration allows Savvy to configure different reward ratios for svTokens, base assets and fees, and allow rolling out the veSVY booster also on LP rewards to tighten price correlation and incentivize trade volume.
If you are LP’ing via Bunni, you can choose to stay and keep earning SVY. Alternatively, if you are comfortable providing liquidity over Uniswap v3, you can move your position to earn other reward tokens like ARB through Merkl. Providing liquidity to Uniswap v3 will automatically make you eligible for rewards. Splitting rewards between Bunni and Merkl is temporary, and both reward allocations will be unified in the coming weeks when the connector goes live!
Check out integrated pools here, and start earning SVY and ARB rewards:
https://merkl.angle.money/?times=active%2Cfuture%2C&phrase=sv&chains=
