I started my Merit source application half a year ago. I want to try something new: I'd like to be a deMerit source (or should this be called a merit sink?).
User cabalism13 reminded me about this:
Just 3 days ago, theymos implemented Enhanced newbie restrictions. Jr. Member status now requires at least 1 Merit point. This has already reduced the amount of spam, and lead to a Newbie invasion in Meta.
But worse, it lead to massive Merit abuse, like this:
I can't read most of those (Russian) posts, but the fact remains this one guy ranked up a small army of a few dozen Jr. Members, who no doubt will continue spamming later on. There are many users with a large supply of sMerit (only a small fraction of the 600k airdropped sMerit has been used), which means the Jr. Member spam can be sustained for a very long time.

To counter this, I'm applying to be a deMerit source. I don't think this should be used against heavy merit abuse (50 at a time), it could be limited to a maximum of 5 deMerit per user per month. This way it deranks many different users without destroying a large amount of Merit.

More examples
See Users abusing merit to level up their alts to Junior Member (by o_e_l_e_o)