Dual benefits of stake + Airdrop, 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 think that this market trend belongs solely to 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 USD in June 2022, XRP surged to a high of 3.4 USD, with a maximum increase of about 1085% during this period; as of the time of writing, XRP has fallen back to around 2.1 USD 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 underperforming, XRP's strong performance has helped it regain a spot in the Top 3 of the cryptocurrency market capitalization rankings. Calculated by fully diluted valuation (FDV), XRP has even temporarily surpassed ETH multiple times, becoming the second largest cryptocurrency after BTC.

XRP holders' dilemma: limited earning opportunities

Although the secondary performance of XRP is remarkable, there is a significant dilemma for XRP believers in that the ecosystem has long been constrained by the blockchain characteristics of the XRP Ledger, limiting the earning opportunities for XRP holders. Users cannot obtain other earnings beyond price appreciation through long-term holding of XRP.

In short, since 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 rewards through native staking or liquid staking like ETH and SOL holders; moreover, because the XRP Ledger network itself does not support smart contracts, the progress of the DeFi ecosystem around XRP is relatively slow, and it is difficult for XRP holders to unlock greater value through various DeFi tools.

The protagonist of this article, Doppler Finance, aims to address this issue directly. To this end, Doppler Finance has proposed a new concept called "XRPfi," which aims to help 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 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 by combining CeFi and DeFi from multiple channels.

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

Secondly, 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 throughout the entire XRPL ecosystem, further expanding the yield possibilities within the XRPL ecosystem.

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

How big is the demand space? Let's let the data from practice 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, the deposit limit for Doppler Finance was 200,000 XRP, which was quickly snatched up within 1 minute; on February 16, Doppler Finance reopened the second batch of deposits with a total limit of 1,000,000 XRP, but users still filled it up quickly within 15 minutes; on March 21, Doppler Finance opened the third batch of deposits with a total limit of 5,000,000 XRP, attracting a large number of users and funds once again, causing the total locked value of the protocol to quickly exceed 10 million dollars.

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 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 yield of 3-4.5%.

Potential Airdrop Opportunity: Points Program Now Live

In addition to basic earnings, users participating in Doppler Finance can also expect 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, primarily focuses on the liquidity staking scenarios and lending scenarios on sidechains.

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

RP is not yet 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 earning points can make one an "early contributor" to the protocol, it is worth anticipating the future value of DP and RP, as points are often linked to airdrops based on industry practices.

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 its core XRPfi product and a 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, simply click "Deposit" in the front-end application of Doppler Finance and choose to deposit a certain amount of XRP to complete the interaction. After that, users can also view their positions and points in real-time through the Dashboard and Points interface.

Ripple accelerates its development, and Doppler Finance is indispensable.

Since Trump's election 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, there has been continuous discussion around the progress of the XRP ETF; last month, Ripple 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 offer $4 billion to $5 billion to acquire Circle (which has been rejected) ...

Looking closely at Ripple's recent achievements, most are still focused on the B-end market, with relatively limited C-end layout, and 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 sit idle due to 'nowhere to go', but can actively seek earning opportunities in the CeFi and DeFi sectors - thus, the ecosystem value of XRP worth hundreds of billions of dollars will be 'awakened', thoroughly activating the ecological vitality of XRP.