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![merkl_xyz Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1693977519286796288.png) Merkl [@merkl_xyz](/creator/twitter/merkl_xyz) on x 6376 followers
Created: 2025-07-21 14:28:24 UTC

X. Even better, Merkl mirrors the internal logic of each protocol. If a protocol takes a fee on forwarded rewards, Merkl replicates that logic precisely.

For example, in a USDA rewards campaign where some USDA is deposited in a Pendle market, Merkl forwards rewards only to eligible stakeholders (like YT and LP holders), excludes ineligible ones (like PT holders), and automatically applies Pendle's treasury fee.


XX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1947302643837071523/c:line.svg)

**Related Topics**
[holders](/topic/holders)
[usda](/topic/usda)
[protocol](/topic/protocol)

[Post Link](https://x.com/merkl_xyz/status/1947302643837071523)