Stellar Campaigns

Campaign types available on Stellar - token holding (SAC), Blend Capital supply & borrow

Merkl supports Stellar through Soroban smart contracts. Campaigns on Stellar work the same way as on EVM chains. Merkl indexes onchain events to track user positions and distributes rewards accordingly.

Campaign Types

Token Holding (SAC)

Merkl enables rewarding holders of any Stellar Asset Contract (SAC) token based on their balance over time, similar to ERC20 Token Holding campaigns on EVM chains.

This is useful for incentivizing users to hold a specific token on Stellar, such as a stablecoin or an LP token.

Blend Capital: Supply & Borrow

Merkl supports Blend Capital lending pools on Stellar:

  • Supply campaigns reward users who lend assets to a Blend pool. Merkl tracks each lender's position over time, including supply, collateral deposits, withdrawals, and liquidation events.
  • Borrow campaigns reward users who borrow from a Blend pool. Merkl tracks each borrower's debt position, including borrows, repayments, flash loans, and liquidations.

When creating a Blend campaign, the deposit URL automatically links to the corresponding pool on the Blend dashboard.

If you'd like a different Stellar protocol to be supported by Merkl, please reach out on the Merkl Discord by opening a BD ticket to discuss the integration process.

Reward Forwarding

Reward forwarding works the same way on Stellar as on EVM chains. For more details, see the Reward Forwarding page.

Specifics

Soroban Addresses Only

Stellar has two base address formats: classic accounts (G...) and Soroban smart contract addresses (C...), as well as muxed accounts (M..., see below). Merkl only supports Soroban C... addresses for reward tokens and target contracts.

Users with classic G... accounts can still earn rewards, as long as their activity goes through a Soroban contract, Merkl will track it.

Muxed Accounts

Stellar also has muxed accounts (M... addresses), which encode a G... account with a 64-bit sub-ID. These are resolved to their underlying G... account on-chain, so users with muxed accounts earn and claim rewards through their base G... address — no special handling is needed.

Excluded Address Types

Merkl does not reward the following Stellar address types:

  • Claimable balances (B... addresses): these are temporary holding accounts and do not represent real user positions
  • Liquidity pools: pool addresses are excluded from reward distribution to avoid double-counting