Stake + Airdrop dual benefits, how does Doppler Finance unlock new opportunities for XRP holders?

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

Based on the bottom price of $0.287 in June 2022, XRP surged to a maximum of $3.4, with a maximum increase of approximately 1085% during this period; as of the publication date, XRP has fallen back to around $2.1 due to the overall market correction, but it still has an increase of over 630% compared to the cycle low. In a situation where other altcoins are generally performing poorly, XRP's strong performance has helped it re-enter the Top 3 of the cryptocurrency market capitalization ranking. Based on fully diluted valuation (FDV), XRP has even temporarily surpassed ETH multiple times, becoming the second-largest cryptocurrency after BTC.

The Predicament of XRP Holders: Limited Earning Opportunities

Although the secondary performance of XRP is remarkable, there remains a significant dilemma for its believers in the ecosystem—limited by the blockchain characteristics of the XRP Ledger, the opportunities for profit for XRP holders are scarce, and users cannot gain other benefits apart from price appreciation through long-term holding of XRP.

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

The protagonist of this article, Doppler Finance, aims to address this issue positively. To this end, Doppler Finance has proposed a new concept called "XRPfi," which aims to help XRP holders unlock new earning opportunities using 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 USD, and the core mission of the protocol is to convert these idle XRP into active assets, helping XRP holders to "earn more."

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

First is the core XRPfi product, Doppler Finance, which allows XRP holders to securely participate in institutional-grade yield strategies by integrating institutional-level 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 a PoS mechanism), allowing users to earn staking rewards without sacrificing liquidity.

In addition, Doppler Finance has launched a lending protocol specifically tailored for the XRPL sidechain, allowing users to perform lending operations using XRP and other assets throughout the broader XRPL ecosystem, further expanding the earning potential within the XRPL ecosystem.

According to research results provided by Doppler Finance, approximately 52% of XRP holders are eager to unlock new income opportunities through staking and other channels. This indicates that Doppler Finance's products have a very high market demand fit, and the rapidly growing business numbers since Doppler Finance officially launched in the first quarter of this year further prove this point.

How large is the demand space? Let's let the practical data speak.

On February 14 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's deposit limit was 200,000 XRP, and the quota was quickly snapped up within 1 minute. On February 16, Doppler Finance opened the second batch of deposits again, with a total limit of 1 million XRP, but users still quickly filled up within 15 minutes; On March 21, Doppler Finance opened the third batch of deposits with a total limit of 5 million XRP, and a large number of users and funds poured in again, making the total lock-up value of the protocol quickly exceed $10 million.

On April 14, Doppler Finance has opened the fourth batch of deposits, with a total limit of 10 million XRP. As of the time of this 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 in Doppler Finance can enjoy a real-time APY return of 3-4.5%.

Potential Airdrop Opportunity: Points Program Launched

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

Doppler Finance has now launched a points program, which is divided into 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.

The DP points have now been launched. Users can earn 0.01 DP for every 1 USD worth of Token deposited every 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% points share from the invited person's points through invitations (the invited person can also receive a 10% acceleration).

RP is temporarily not online, but according to Doppler Finance's disclosure, the points calculation model will largely 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, based on industry practices, points are often linked to airdrops, so the future value of DP and RP is worth looking forward to.

Participation Tutorial Introduction

In terms of interaction, Doppler Finance's UI design is quite clear, so the interaction is not complicated. Currently, Doppler Finance has launched the core XRPfi product and the lending product 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 choose to 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 is accelerating its development, and Doppler Finance is indispensable.

Since Trump's victory, the regulatory environment for the cryptocurrency industry has significantly improved. Recently, the SEC has reached a preliminary settlement agreement with Ripple, which means 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 sector; in the following months, discussions about the progress of the XRP ETF continued unabated; last month, Ripple announced the acquisition of cryptocurrency-friendly broker Hidden Road for $1.25 billion to expand its services aimed at institutional investors; the Chicago Mercantile Exchange has recently confirmed its intention to add XRP futures; not long ago, rumors circulated in the market that Ripple intended to offer $4 billion to $5 billion to acquire Circle (which has been rejected)...

Looking closely at Ripple's recent achievements, most of them are still focused on the B-end sector, while the C-end layout is relatively limited. The emergence of Doppler Finance precisely fills this gap. Through the new yield channels provided by Doppler Finance, the XRP in users' hands will no longer be forced to sit idle due to "nowhere to go," but can actively seek income opportunities in both CeFi and DeFi sectors. As a result, the XRP ecological value worth hundreds of billions of dollars will be "awakened," thus completely activating the ecological vitality of XRP.