You will not generate sMerit from your account anymore unless you are a merit source, but you are still able to gain sMerit point if someone decides to merit your posts, for every 2 sMerit you attain from your posts, you will be able to gain 1 sMerit point which you can use to merit other users posts.
Thanks a lot! When I read the post TMAN gave a link to when the system only got implemented, I guess I just didn't pay attention to further details with merits.
And I do remember that there was a thing about monthly merits! Like, for instance, that smerits which one didn't use in a month, would expire. That was the argument to encourage people to give their merits to others.
Did I really misunderstand the whole thing that much? Or was it actually changed to the way it is now? To support my point I'd like to add that at the same megathread there are discussions about monthly merits on page 41.