Unlocking the Hundreds of Billions of Idle Value in XRP.

Looking back at the performance of major cryptocurrencies in this cycle, although many people might think that this market rally is a "one-man show" for BTC, in fact, a few tokens have outperformed BTC—Ripple (XRP) being the best example.

Starting from its bottom price of $0.287 in June 2022, XRP once surged to as high as $3.4, with a maximum increase of about 1,085% in this cycle. As of the time of writing, XRP has retreated to around $2.1 due to the overall market correction, but it still has a gain of over 630% compared to its cycle low. Amid the generally poor performance of other altcoins, XRP's strong performance has helped it re-enter the Top 3 in the cryptocurrency market capitalization ranking. Calculated by its Fully Diluted Valuation (FDV), XRP has even temporarily surpassed ETH multiple times, becoming the second-largest cryptocurrency after BTC.

The Dilemma for XRP Holders: Limited Profit Opportunities

Despite XRP's impressive secondary market performance, there is a significant dilemma for XRP holders: due to the characteristics of the XRP Ledger blockchain, the profit opportunities for holding XRP are limited. Users cannot obtain any additional returns beyond price growth by holding XRP in the long term.

In short, because the XRP Ledger uses the Federated Byzantine Agreement (FBA) consensus mechanism, it cannot support native staking like Ethereum, Solana, and other PoS networks. Therefore, XRP holders cannot earn returns through native staking or liquid staking like ETH and SOL holders. Additionally, since the XRP Ledger does not support smart contracts, the development of the DeFi ecosystem around XRP has been relatively slow, making it difficult for XRP holders to unlock greater value through various DeFi tools.

The protagonist of this article, Doppler Finance, aims to solve this problem head-on. To this end, Doppler Finance has introduced a new concept called "XRPfi," which aims to help XRP holders unlock new profit opportunities using XRP and other assets within the XRPL ecosystem (such as Ripple's stablecoin, RLUSD).

Doppler Finance states that due to the lack of profit channels, 92% of the total XRP supply is currently idle, with a market value of approximately $113 billion. The core mission of this protocol is to "transform these idle XRPs into active assets" and help XRP holders "earn more."

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

First and foremost is the core XRPfi product. Doppler Finance can integrate institutional custody solutions to allow XRP holders to participate in institutional profit strategies in a secure manner.

Secondly, Doppler Finance will also provide liquid staking services similar to those on Ethereum and Solana on XRPL sidechains (such as the PoS-based Root Network), allowing users to earn staking rewards without sacrificing liquidity.

In addition, Doppler Finance has launched a lending protocol customized for XRPL sidechains, allowing users to borrow and lend XRP and other assets throughout the entire XRPL ecosystem, further expanding the profit possibilities within the XRPL ecosystem.

According to the research results provided by Doppler Finance, about 52% of XRP holders are eager to unlock new profit opportunities through staking and other channels. This means that Doppler Finance's products have a very high market demand fit. Since Doppler Finance officially launched in the first quarter of this year, the rapidly growing business figures have once again proven this point.

How Large Is the Demand Space? Let's Look at the Real-Combat Data

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

On the first day of launch, Doppler Finance's deposit limit was 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 million XRP, but users still filled it up quickly within 15 minutes. On March 21, Doppler Finance opened a third batch of deposits with a total limit of 5 million XRP, and a large number of users and funds poured in again, causing the total value locked in the protocol to quickly exceed $10 million.

On April 14, Doppler Finance opened a 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—compared to holding XRP statically, all XRP deposited in Doppler Finance can enjoy a real-time APY of 3-4.5%.

Staking + Airdrop Dual Benefits: How Doppler Finance Unlocks New Opportunities for XRP Holders

Potential Airdrop Opportunities: The Points Program Is Live

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

Doppler Finance has now launched a points program, which includes two types of points: Doppler Points (DP) and Resonance Points (RP). The difference between the two is that DP mainly focuses on the XRPfi scenario, that is, participating in various institutional profit strategies through XRP deposits; RP mainly focuses on liquid staking scenarios and lending scenarios on sidechains.

DP points are now live. Users can earn 0.01 DP per hour for every $1 worth of tokens deposited. To incentivize early users, the current fourth batch of deposits offers a 2x DP points bonus. Additionally, users can earn a 10% share of the points earned by invitees through referrals (invitees can also get a 10% boost).

RP has not yet been launched, but according to the disclosure from Doppler Finance, the points calculation model will be similar to that of DP.

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

A Brief Tutorial on Participation

In terms of interaction, Doppler Finance's UI design is relatively clear, so the interaction is not complicated. Currently, Doppler Finance has launched its core XRPfi product 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 Girin Wallet or other wallet solutions.

After downloading the wallet, transfer the held XRP to the wallet address. After linking the wallet, simply click "Deposit" on Doppler Finance's front end and choose to deposit a certain amount of XRP to complete the interaction. Later, users can also check 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 has reached a preliminary settlement agreement with Ripple, which means that Ripple has finally shed the long-standing regulatory burden and 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 market. In the following months, progress on the XRP ETF has been ongoing. Last month, Ripple announced the acquisition of the crypto-friendly broker Hidden Road for $125 million to expand its services for institutional investors. The Chicago Mercantile Exchange (CME) has also confirmed its intention to add XRP futures. Not long ago, there were even rumors that Ripple intended to bid $4 billion to $5 billion to acquire Circle (although it was rejected)...

Looking at Ripple's recent achievements, most of them are still focused on the B-end, with relatively limited C-end layout. The emergence of Doppler Finance fills this gap. Through the new profit channels provided by Doppler Finance, users' XRP will no longer be forced to remain idle due to "nowhere to go," but can actively seek interest-earning opportunities in both CeFi and DeFi fields. In this way, the ecological value of XRP worth hundreds of billions of dollars will be "awakened," thereby completely activating the ecological activity of XRP.