Analyzing Doppler Finance: The first ultimate yield platform focused on XRP

Looking back at the performance of major mainstream cryptocurrencies in this cycle, although many people might impressionistically think that this round of the market belongs to BTC's "one-man show," in fact, there are still a few tokens that have outperformed BTC — Ripple (XRP) is the best representative among them.

Based on the bottoming price of $0.287 in June 2022, XRP once surged up to $3.4, with a maximum increase of about 1085% in this cycle; As of this writing, XRP has fallen back to around $2.1 due to the overall market pullback, but it is still up more than 630% from the cycle low. **XRP's strong performance has helped it regain the top 3 crypto market capitalization rankings amid the generally underperforming performance of other altcoins, and XRP has even temporarily surpassed ETH several times in terms of fully circulating valuation (FDV), becoming the second largest cryptocurrency after BTC at one point. **

The Predicament of XRP Holders: Limited Profit Opportunities

Although the secondary performance of XRP is impressive, there is a significant dilemma that has long existed for XRP believers — limited by the blockchain characteristics of the XRP Ledger, the opportunities for earning returns from holding XRP are limited, and users cannot gain other benefits beyond price appreciation through long-term holding of XRP.

In short, due to the fact that the XRP Ledger adopts the Federated Byzantine Agreement (FBA) consensus mechanism, it cannot support native staking like PoS networks such as Ethereum and Solana, so XRP holders cannot earn yields through native staking or liquid staking like ETH and SOL holders; furthermore, since the XRP Ledger network itself does not support smart contracts, the progress of the DeFi ecosystem surrounding XRP is relatively slow, making it difficult for XRP holders to unlock greater value through various DeFi tools.

The main character of this article, Doppler Finance, hopes to address this issue positively. To this end, Doppler Finance has proposed a new concept called "XRPfi," aimed at helping XRP holders unlock new earning opportunities by utilizing XRP and other assets within the XRPL ecosystem (such as the Ripple stablecoin RLUSD).

Doppler Finance introduces that, due to the lack of revenue channels, currently 92% of the total supply of XRP is idle, corresponding to a market value of approximately 113 billion dollars, and the core mission of the protocol is to convert these idle XRP into active assets to help XRP holders "earn more".

Specifically, Doppler Finance will explore new yield opportunities for XRP through the combination of CeFi and DeFi from multiple channels.

First is the core XRPfi product, Doppler Finance, which allows XRP holders to participate in institutional-level yield strategies securely by integrating institutional-grade custody solutions.

In addition, Doppler Finance will also provide liquidity staking services similar to those on Ethereum and Solana on the XRPL sidechain (such as the Root Network with PoS mechanism), allowing users to earn staking rewards without sacrificing liquidity.

In addition, Doppler Finance has launched a lending protocol specifically designed for the XRPL sidechain, allowing users to borrow and lend XRP and other assets across the entire XRPL ecosystem, further expanding the earning potential within the XRPL ecosystem.

According to the research results provided by Doppler Finance, approximately 52% of XRP holders are eager to unlock new income opportunities through staking and other channels, which indicates a very high market demand alignment for Doppler Finance's products. Since Doppler Finance officially launched in the first quarter of this year, the rapidly growing business numbers have once again proven this point.

How big is the demand space? Let the data speak for itself.

On February 14 of this year, Doppler Finance officially launched. For security reasons, the protocol adopted a capped deposit mechanism in its early stages.

On the first day of launch, Doppler Finance had a deposit limit of 200,000 XRP, which was quickly snapped up within 1 minute; on February 16, Doppler Finance opened a second batch of deposits with a total limit of 1,000,000 XRP, but users filled it up quickly again within 15 minutes; on March 21, Doppler Finance opened a third batch of deposits with a total limit of 5,000,000 XRP, attracting a large influx of users and funds, causing the total locked value of the protocol to quickly exceed 10 million dollars.

On April 14th, Doppler Finance has opened its fourth batch of deposits, with a total limit of 10 million XRP. As of the time of writing, approximately 8.39 million XRP have been deposited, corresponding to a TVL of about 16.73 million USD — compared to static holdings of XRP, all XRP deposited into Doppler Finance can enjoy a real-time APY return of 3-4.5%.

Potential Airdrop Opportunity: Points Program Has Launched

In addition to basic returns, users participating in Doppler Finance also have the potential to earn another potential benefit — by earning points, they may unlock future airdrops.

Doppler Finance has now launched a points program, which is divided into two types: Doppler Points (DP) and Resonance Points (RP). The difference between the two is that DP mainly focuses on the XRPfi scenario, which involves participating in various institutional-level yield strategies through XRP deposits; RP, on the other hand, mainly focuses on liquidity staking scenarios and lending scenarios on sidechains.

DP points have now been launched. Users can earn 0.01 DP for every $1 worth of tokens deposited per hour. To incentivize early users to participate, the current fourth batch of deposits can receive a 2x DP points bonus. In addition, users can also earn 10% of the points of the invited person through invitations (the invited person can also receive a 10% acceleration).

RP is not yet online, but according to disclosures from Doppler Finance, the point calculation model will generally remain similar to DP.

Although Doppler Finance has not explicitly mentioned the future utility of DP and RP, only emphasizing that obtaining points can make one an "early contributor" to the protocol, it is worth looking forward to the future value of DP and RP, as points are often tied to airdrops according to industry practice.

Introduction to Participation Tutorial

In terms of interaction, Doppler Finance's UI design is quite clear, so the interaction is not complex. Currently, Doppler Finance has launched its core XRPfi products and lending products based on the sidechain Root Network.

Taking the core XRPfi product as an example, since it uses the XRPL network, users need to download wallet solutions such as Girin Wallet.

After the wallet is downloaded, transfer the XRP you hold to the wallet address. After linking the wallet, click "Deposit" in the front end of the Doppler Finance application, and selectively deposit a certain amount of XRP to complete the interaction. Afterwards, users can also view their positions and points in real-time through the Dashboard and Points interface.

Ripple accelerates development, Doppler Finance is indispensable

Since Trump's victory, the regulatory environment for the cryptocurrency industry has significantly improved. Recently, the SEC reached a preliminary settlement agreement with Ripple, which means that Ripple has finally shed the long-standing regulatory burden and officially entered a period of accelerated development.

At the end of last year, Ripple officially announced the launch of RLUSD, making a high-profile entry into the stablecoin arena; in the following months, there were continuous updates regarding the progress of the XRP ETF; last month, Ripple officially announced the acquisition of cryptocurrency-friendly broker Hidden Road for $1.25 billion to expand its services to institutional investors; the CME Group has recently confirmed its intention to add XRP futures; not long ago, there were even rumors in the market that Ripple intended to bid $4 billion to $5 billion to acquire Circle (which has been rejected)……

Looking closely at Ripple's recent achievements, most still focus on the B-side, while the C-side layout is relatively limited. The emergence of Doppler Finance just fills this gap. Through the new income channels provided by Doppler Finance, the XRP in users' hands will no longer be forced to remain idle due to "nowhere to go" but can actively seek income opportunities in both CeFi and DeFi sectors — in this way, the XRP ecosystem value worth hundreds of billions of dollars will be "awakened," thereby completely activating the ecological activity of XRP.