Merits are a special way of tracking your progression on dungeons and comparing with other players.
To maintain a competitive environment, merits will reset frequently for so-called “merit seasons.” Rewards for top placers will begin after the first season.
Merits can be obtained by completing dungeons, buying houses, and performing various other tasks on Dungeons.
You can check the amount of merits you have earned by running /merits.
You can view the top ten merit holders at the Merits warp under /warps ( Leaderboards > Merits ).