Meryal

Your stocks pay for your agents. Borrow private, spend from addresses nobody links, let agents pay on credit. ZK · stealth · x402

[Meryal @Meryal_Raven]

Meryal is live.

Lock a tokenized stock, borrow USDG from Morpho into a pool, spend it from fresh addresses that never hold gas.

Agents pay x402 APIs on credit, backed by your stocks.

Private withdrawals ship next.

https://t.co/FgUDh4BqkV

CA: 0x134e52ed8ee01cbb1fb714098b606c57366369fd

[Meryal @Meryal_Raven]

Every Meryal flow has a replay: it deploys the compiled contracts on a chain that exists only for that run and plays it step by step, every event shown.

No wallet, no funds, nothing to install. The shielded one makes real Groth16 proofs.

https://t.co/SynF7jznJI

[Meryal @Meryal_Raven]

x402 on credit reserves a line from your stock position, and your agent spends it by IOU.

When the line expires, what it didn't spend doesn't come back to your wallet: it becomes a new note in the shielded pool, for a refund key fixed by the activation proof.

[Meryal @Meryal_Raven]

Trust in a Groth16 setup starts at its first key.

Meryal's round zero comes from the circuit and the Ethereum Foundation's Perpetual Powers of Tau alone, so anyone gets the same file. Every secret comes after, one public round at a time.

https://t.co/7pBdy9GdjJ

[Meryal @Meryal_Raven]

Opening a sealed position is the one step with nothing to spend.

So it spends the empty note, which needs no place in the tree. Every later step spends the note before it by a nullifier, and nothing on chain says which commitment that nullifier belongs to.

[Meryal @Meryal_Raven]

A zero-knowledge proof is made against one state of the pool's tree, and that tree changes every time anyone deposits or withdraws.

So the pool keeps its last 64 roots. The proof your browser made still lands while the pool keeps moving: no race against other users.

[Meryal @Meryal_Raven]

Meryal's inference API is OpenAI-compatible and asks for no key and no account.

Each request answers 402, your agent pays per request over x402, and the money lands at a one-time address, so even the API's revenue isn't one public balance.

https://t.co/dVCXG9qdtp

[Meryal @Meryal_Raven]

Privacy a merchant can't keep up with doesn't last, so scanning has to be cheap.

Every Meryal payment to a one-time address is announced with a view tag. The merchant's viewing key finds its own in one pass over the chain, and only its spending key can move them.

[Meryal @Meryal_Raven]

1/ Thirteen days ago Meryal was a landing page. Today it is private leverage on tokenized stocks, live on chain, with every piece checkable. What shipped, in order:

2/ First the rails: our own x402 facilitator, agent sessions with caps and a kill switch, stealth payments to one-time addresses, then x402 on credit: a line backed by your stock, spent by IOU, settled in one batch.

3/ Then the borrowing: an NVDA vault that borrows USDG from Morpho's own market at its rate, liquidates at 58% before Morpho's 62.5%, and pays every loan into the pool in fixed pieces, so no amount points back to you.

4/ Nov 4, private for real: withdrawals, credit activations and sealed positions became Groth16 proofs made in your browser and checked on chain. Every contract source-verified, every key published with its hash.

5/ Then we took ourselves out of the loop: the liquidation key split 2-of-3 with robinhood:0x134e52ed8ee01cbb1fb714098b606c57366369fd bonds, a multisig instead of an admin key, a setup ceremony anyone can join from a browser, keeper seats for outside operators.

6/ This week: x402 paid straight from the shielded pool by a proof, and since today any merchant can accept it through our facilitator. Next, in order: close the ceremony, an outside audit, more stocks.

CA: 0x134e52ed8ee01cbb1fb714098b606c57366369fd

[Meryal @Meryal_Raven]

Liquidating a sealed position takes what the debt is worth plus a 4% bonus, nothing more.

The contract reverts on any position that is still healthy, and keepers can only open notes near their trigger or left stale for a month. The rest stay closed.

[Meryal @Meryal_Raven]

Update: Until today only Meryal's own API took x402 paid by a zero-knowledge proof.

Now any merchant can: quote with a stealth meta-address, send the payer's proof to our facilitator, and it is checked against the pool and settled. No relayer to run.

https://t.co/dVCXG9qLiX

[Meryal @Meryal_Raven]

A sealed note's trigger is a promise: down to this price, the position is safe.

Prices move, so the promise expires. After 30 days the keepers may open the note even if it's healthy, so make a step to set a fresh trigger if you want it to stay closed.

[Meryal @Meryal_Raven]

Meryal adds privacy to a borrow, not a second market.

Your NVDA is collateral on Morpho's own NVDA/USDG market, the USDG comes from its lenders at its rate, and the vault prices NVDA with that market's oracle, so the two never disagree on your position.

[Meryal @Meryal_Raven]

A merchant on Meryal publishes one meta-address and receives every x402 payment at a new one.

The payer signs to the settler contract, not to a wallet, so whoever relays the payment can't redirect it, and the merchant's scanner finds it from the announcement alone.

[Meryal @Meryal_Raven]

x402 on credit: your agent pays for requests from a line backed by your stock.

The line is switched on by a zero-knowledge proof of a secret in the reservation tree, for exactly its limit. It can't claim more than its own reservation, and it can't be traced back to it.

[Meryal @Meryal_Raven]

Anyone can repay a Meryal position, from any address.

So the money never has to come home: repay from the same fresh addresses you spend from, funded by the pool. Your wallet only shows the collateral going in and, one day, coming back out.

[Meryal @Meryal_Raven]

Good morning

[Meryal @Meryal_Raven]

Meryal borrows on Morpho as one account for every user, so one bad position must never weigh on the others.

The vault liquidates users at 58%, well before Morpho's 62.5% line on the shared account. Past 58%, anyone can repay part of the debt for collateral at oracle +4%.

[Meryal @Meryal_Raven]

A sealed position is encrypted to the keeper committee, and that encryption is part of the proof.

Write a position with a ciphertext of junk to dodge liquidation? The step has no valid proof unless the encrypted note is the real one, and the vault refuses it.

[Meryal @Meryal_Raven]

An agent shouldn't hold a key that can drain you.

On Meryal it gets a session: a fresh address funded from the pool, with the caps you set. The keys stay with the issuer, nothing runs on the agent's machine, and when in doubt the kill switch says no.

https://t.co/jQNK6NQTOl

[Meryal @Meryal_Raven]

Major Update : x402, paid by a zero-knowledge proof.

An API answers 402. Your browser proves one of your notes in Meryal's shielded pool covers the price, and the money lands at a one-time address. No signature, no session, no account.

Run it with real proofs: https://t.co/lBx9BMtD3J

CA: 0x134e52ed8ee01cbb1fb714098b606c57366369fd