New Opportunities for XRP Holders: How Doppler Finance Unlocks the Value of Idle Assets

In this round of the cryptocurrency market cycle, Ripple (XRP) has performed exceptionally well. From the low of $0.287 in June 2022, XRP reached a high of $3.4, an increase of 1085%. Although there has been a recent pullback, currently around $2.1, it still represents an increase of over 630% compared to the cycle low. This strong performance has allowed XRP to return to the top three in cryptocurrency market capitalization rankings, and at one point, it even surpassed ETH in terms of fully diluted valuation, becoming the second largest cryptocurrency after BTC.

However, XRP holders face a long-term dilemma: the lack of additional earning opportunities. Due to the fact that the XRP Ledger uses a Federated Byzantine Agreement (FBA) consensus mechanism, it does not support native staking or smart contracts, which prevents XRP holders from earning additional income through staking or DeFi tools like users of other public chains.

Doppler Finance has emerged, proposing the concept of "XRPfi", aimed at creating new revenue channels for XRP holders. According to Doppler Finance, currently 92% of the total supply of XRP is idle, valued at approximately $113 billion. The goal of the protocol is to activate these idle assets and generate more income for XRP holders.

Doppler Finance explores new yield opportunities for XRP in various ways:

1. Core XRPfi product: An integrated institutional-grade custody solution that allows XRP holders to securely participate in institutional-grade yield strategies.

2. Liquid Staking: Providing liquid staking services similar to Ethereum and Solana on XRPL sidechains (such as Root Network).

3. Lending Agreement: Customized specifically for the XRPL sidechain, supporting lending operations for XRP and other assets.

Research from Doppler Finance shows that approximately 52% of XRP holders wish to obtain new income opportunities through staking and other methods, indicating a high market demand fit for this product.

Since its launch on February 14, 2023, Doppler Finance has undergone multiple rounds of deposit limit openings, with enthusiastic user responses. As of the latest round, approximately 8.39 million XRP have been deposited, corresponding to a TVL of about 16.73 million USD. All deposited XRP can enjoy a real-time APY yield of 3-4.5%.

In addition to basic earnings, Doppler Finance has also launched a points program, which includes two types of points: Doppler Points (DP) and Resonance Points (RP). DP is mainly targeted at XRPfi scenarios, while RP focuses on liquidity staking and lending scenarios on sidechains. Although the official statement does not explicitly mention the future use of the points, it is widely believed in the industry that it may be related to airdrops.

Participating in Doppler Finance is relatively simple. Users need to use a wallet that supports the XRPL network (such as Girin Wallet) to transfer XRP, after which they can perform deposit operations on the Doppler Finance platform. Users can view their positions and points in real-time through the Dashboard and Points interface.

With Ripple's recent significant progress in regulation, stablecoins, and institutional services, the emergence of Doppler Finance perfectly fills the gap in Ripple's C-end layout. By providing new revenue channels, Doppler Finance is expected to activate the XRP ecosystem worth hundreds of billions of dollars, injecting new vitality into the entire XRP ecosystem.