Looking back at the performance of major mainstream coins in this cycle, while many people might impressionistically believe that this cycle belongs solely to BTC's 'one-man show,' in fact, there are still a few tokens that have outperformed BTC — Ripple (XRP) is one of the best representatives.
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 approximately 1085% during this cycle. As of publication, XRP has retreated to around 2.1 USD due to overall market corrections, but still shows a total increase of over 630% from the cycle low. While other competitive coins generally performed poorly, XRP's strong performance has helped it reclaim a spot in the top 3 of the cryptocurrency market capitalization rankings, and based on fully diluted valuation (FDV), XRP has even temporarily surpassed ETH multiple times, becoming the second-largest cryptocurrency after BTC.
The Dilemma of XRP Holders: Limited Earning Opportunities
Although the secondary performance of XRP is impressive, there remains a significant dilemma for XRP believers — limited earning opportunities due to the blockchain characteristics of the XRP Ledger, where holding XRP does not allow users to earn additional returns beyond price appreciation over the long term.
In short, due to the XRP Ledger adopting 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 returns through native staking or liquidity staking like ETH and SOL holders. Furthermore, due to the XRP Ledger system itself not supporting 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 protagonist of this article, Doppler Finance, aims to directly address this issue. To this end, Doppler Finance has proposed a new concept called 'XRPfi,' aimed at helping XRP holders unlock new earning opportunities using XRP and other assets in the XRPL ecosystem (such as the Ripple stablecoin RLUSD).
Doppler Finance introduced that due to the lack of earning channels, currently 92% of the total supply of XRP is idle, corresponding to a market value of about 113 billion USD, and the core mission of this protocol is to convert these idle XRP into 'active assets,' helping XRP holders 'earn more.'
Specifically, Doppler Finance will explore new earning opportunities for XRP through a combination of CeFi and DeFi across multiple channels.
First, with the core XRPfi product, Doppler Finance can allow XRP holders to safely participate in institutional-level earning strategies through the integration of institutional-grade custody solutions.
Additionally, Doppler Finance will also offer liquidity staking services similar to those on Ethereum and Solana on XRPL sidechains (such as the PoS mechanism of the Root Network), allowing users to earn staking rewards without sacrificing liquidity.
In addition, Doppler Finance has also launched a lending protocol customized for XRPL sidechains, allowing users to perform lending operations using XRP and other assets throughout the broader XRPL ecosystem, further expanding the earning possibilities within the XRPL ecosystem.
According to the survey results provided by Doppler Finance, about 52% of XRP holders are eager to unlock new earning opportunities through staking and other channels, indicating a very high market demand fit for Doppler Finance's products. The rapidly growing business figures since Doppler Finance officially launched in the first quarter of this year further prove this point.
How big is the demand space? Let the data speak.
On February 14 of this year, Doppler Finance officially launched. For security reasons, the protocol initially adopted a capped deposit mechanism.
On the first day of launch, Doppler Finance's deposit limit was set at 200,000 XRP, which was quickly snatched up within a minute; on February 16, Doppler Finance opened the second batch of deposits with a total limit of 1 million XRP, but users still filled it quickly within 15 minutes; on March 21, Doppler Finance opened the third batch of deposit limit of 5 million XRP, with a large influx of users and funds, rapidly pushing the protocol's total locked value to over 10 million USD.
On April 14, Doppler Finance opened the fourth batch of deposits, with a total limit of 10 million XRP. As of the publication, about 8.39 million XRP have been deposited, corresponding to a TVL of approximately 16.73 million USD — compared to static holdings of XRP, all deposits into Doppler Finance can enjoy real-time APY returns of 3-4.5%.
Potential Airdrop Opportunities: Points Program Launched
Besides base earnings, users participating in Doppler Finance also have the potential to earn another type of benefit — by earning points, they might unlock future airdrops.
Doppler Finance has now launched a points program, where points are divided into Doppler Points (DP) and Resonance Points (RP). The difference between the two is that DP mainly focuses on the XRPfi scenario, participating in various institutional-level earning strategies through XRP deposits; RP mainly focuses on liquidity staking and lending scenarios on the sidechain.
DP points have now been activated. Users earn 0.01 DP for every 1 USD worth of tokens deposited every hour. To encourage early users to participate, the current fourth batch of deposits can receive a 2x DP points bonus. Additionally, users can earn 10% of the points of the invited person through referral invitations (the invited person can also receive a 10% acceleration).
RP is not yet online, but according to Doppler Finance's disclosure, 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 earning points may become 'early contributors' to the protocol, based on industry norms, points are often linked to airdrops, so the future value of DP and RP is worth looking forward to.
Participation in Teaching Introduction
In terms of interaction, Doppler Finance's UI design is relatively clear, making it straightforward to interact. Currently, Doppler Finance has launched the 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 wallet solutions like Girin Wallet.
After downloading the wallet, transfer the XRP held to the wallet address. After connecting the wallet, directly click 'Deposit' on the front end of the Doppler Finance application, and deposit a certain amount of XRP to complete the interaction. Afterwards, users can also view their positions and points status in real-time through the Dashboard and Points interface.
Ripple accelerates development, and Doppler Finance is indispensable.
Since Trump's election victory, the regulatory environment for the cryptocurrency industry has improved significantly. Recently, the SEC has reached a preliminary settlement agreement with Ripple, meaning that Ripple has finally shaken off the long-standing regulatory burden and has 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 track; within the following months, there were continuous updates regarding the XRP ETF; last month, Ripple announced the acquisition of cryptocurrency-friendly broker Hidden Road for 1.25 billion USD to expand its services for institutional investors; and the Chicago Mercantile Exchange submitted rumors of nearly several million (though rejected)...
Looking at Ripple's recent achievements, most are still focused on the B-end field, with relatively limited C-end layout, and the emergence of Doppler Finance just fills this gap. Through the new earning 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 earning opportunities in the CeFi and DeFi fields — thus awakening the ecological value of XRP worth hundreds of billions of dollars, completely activating the ecological vitality of XRP.
(The above content is excerpted and reprinted with permission from partner PANews, original link)
"Staking + Airdrop Dual Earnings: How does Doppler Finance unlock new opportunities for XRP holders?" This article was first published on (Blockcast).