Doppler Finance is a decentralized finance (DeFi) protocol designed as a yield infrastructure on the XRP Ledger (XRPL). ^{[1] [2]} The platform aims to provide institutional-grade, auto-compounding yield on crypto assets, with an initial focus on XRP and the RLUSD stablecoin. It introduces and operates under the concept of "XRPfi," a term it uses to describe a new paradigm of DeFi services built specifically for the XRP ecosystem. ^[2] The project's stated mission is to "Transform Idle XRP into Active Assets" by offering yield-generating opportunities that have historically been absent on the XRP Ledger. ^[2]​

Overview

Doppler Finance positions itself as the "first fully transparent, institutional-grade yield infrastructure on XRP Ledger." ^[1] The protocol was developed to address the issue of large quantities of XRP and other XRPL assets sitting idle in wallets or on centralized exchanges without generating returns. In contrast to Proof-of-Stake (PoS) networks where users can natively stake assets to earn yield, the XRP Ledger historically lacked such mechanisms. Doppler Finance seeks to fill this gap by creating a suite of on-chain DeFi services, leveraging recent developments in the XRPL ecosystem like the launch of Automated Market Maker (AMM) pools, the emergence of sidechains, and the issuance of the RLUSD stablecoin. ^[2]​

The platform's core value proposition is to provide retail users with access to sophisticated, market-neutral trading strategies typically reserved for large financial institutions. ^[1] It operates on a Centralized Decentralized Finance (CeDeFi) model, which combines on-chain smart contracts for user deposits with off-chain, institutional-level trading operations to generate yield. Users deposit their assets into on-chain vaults, and the protocol then allocates these funds to audited trading partners who execute strategies like arbitrage and basis trading. The returns from these strategies are then distributed back to the depositors. ^[1]​

The project's long-term vision extends beyond simple yield generation. Doppler Finance aims to utilize the aggregated XRP within its protocol to provide cryptoeconomic security for a variety of financial services, including payments and remittances, thereby expanding the on-chain utility and adoption of XRP in Web3 applications. ^[2]​

History

Doppler Finance began its public-facing activities with the creation of its official X (formerly Twitter) account, @doppler_fi, in May 2024. ^[3] The project began promoting itself under the slogans "The First XRPfi Protocol" and "XRPfi starts here." ^[3] The initial versions of the project's website and documentation indicated a pre-launch or very early operational phase, with displayed metrics such as "$0 TVL" and "0.00% APY" for its vaults. ^[1] As of February 13, 2026, the project's official X account had accumulated 30,900 followers and made 1,003 posts. ^[3]​

Technology and Architecture

Doppler Finance's architecture is a hybrid model that integrates on-chain components with off-chain trading infrastructure. This CeDeFi approach is central to its strategy of delivering institutional-grade yields.

The "XRPfi" Concept

Doppler Finance coined the term "XRPfi" to define its focus on building a comprehensive DeFi ecosystem centered on the XRP Ledger. This concept aims to use yield as a catalyst to unlock new growth potential for the XRP asset and stimulate on-chain activity. The project's documentation outlines XRPfi as a new paradigm that enables XRP holders to activate their assets and earn substantial yields, moving beyond simple holding. ^[2]​

Yield Generation Mechanism

The protocol's yield generation process involves a three-step cycle:

1. Deposit: Users deposit assets like XRP or RLUSD into smart contract-based pools known as Doppler Vaults. Deposits are open at all times and begin earning yield immediately. ^[1]
2. Asset Allocation: The protocol's core logic allocates the pooled assets to various institutional-grade, market-neutral trading strategies. The platform explicitly names arbitrage (profiting from price differences for the same asset across different markets) and basis trading (profiting from the difference between an asset's spot price and its futures contract price) as key strategies. This allocation is managed off-chain by institutional trading firms partnered with Doppler. ^[1]
3. Yield Generation and Distribution: The off-chain trading strategies generate profits, which constitute the yield. This yield is then automatically distributed to vault depositors and reinvested, a process known as auto-compounding. The yield is paid out in the same asset that was originally deposited (e.g., XRP deposits earn XRP yield), a feature referred to as "native yield." ^[1]

Security and Transparency

Doppler Finance emphasizes security and transparency as core tenets of its platform. To secure user assets, the protocol states it uses "industry-leading custody solutions" for the funds allocated to off-chain partners. It also claims to undergo multiple security audits conducted by "top-tier security firms." The project's documentation includes dedicated sections to host these audit reports for public review. ^{[1] [2]}​

To ensure transparency, Doppler Finance claims to offer real-time Proof of Reserves (PoR), allowing users to verify that all deposited assets are fully backed and accounted for. A dedicated "Transparency Report" section is also planned for its official documentation to provide further insights into protocol operations. ^{[1] [2]}​

Withdrawal Period

A notable feature of the protocol is a mandatory 7-8 day withdrawal period. When a user initiates a withdrawal request, the funds are not immediately available. The platform states this delay is necessary to facilitate the settlement of funds from its off-chain trading strategies. This mechanism is designed to minimize potential slippage, optimize yields for remaining depositors, and maintain the overall stability of the vaults by allowing for an orderly unwinding of trading positions. ^[1]​

Products and Features

Doppler Finance's ecosystem is built around a primary yield product, with several other services planned for future expansion.

Doppler Vaults

Doppler Vaults are the central product of the platform. They function as smart contract-based liquidity pools where users deposit their crypto assets to earn yield. Key features of the vaults include:

• Supported Assets: The initial vaults support deposits of XRP and RLUSD. The platform plans to add support for more tokens in the future. ^[1]
• Auto-Compounding: Yields are automatically reinvested into the vault without any required user action, maximizing returns through the power of compounding. ^[1]
• Native Yield: Users earn returns in the same asset they deposited. ^[1]

Planned Products

The project's website and documentation indicate plans to expand its offerings beyond the initial vaults:

• Doppler Lending: A lending and borrowing protocol is listed as "Coming soon" on the official website, intended to be a core part of the Doppler ecosystem. ^[1]
• Liquid Staking: The protocol intends to offer liquid staking services for various XRPL sidechains, allowing users to stake assets while retaining liquidity. ^[2]

Doppler Points

Doppler Finance has also outlined a loyalty program called "Doppler Points." This system is designed to reward users for their participation and activity on the platform, likely through actions such as depositing assets, maintaining balances, and engaging with new features as they launch. ^[2]​

Investors

Doppler Finance is backed by a group of venture capital firms, market makers, and investment groups within the cryptocurrency industry. The investors listed on the company's website include:

• Auros
• Cluster Capital
• CMCC Global
• CRIT USA
• Digital Currency Group (DCG)
• Flowdesk
• G20
• GSR
• Hashkey Capital
• Keyrock
• Maven 11
• Reforge
• Tenity^[1]

Partnerships

OpenEden

On February 10, 2026, Doppler Finance announced a strategic partnership with OpenEden, a real-world asset (RWA) tokenization platform. The collaboration's primary goal is to bring institutional-grade RWA yield to the XRP Ledger (XRPL) by integrating OpenEden's tokenized T-Bill yield products into the Doppler Finance platform. Through this integration, Doppler Finance functions as an on-chain gateway, enabling XRP and RLUSD holders to access U.S. Treasury-backed yield through OpenEden’s RWA infrastructure. Rox, Head of Institutions at Doppler Finance, stated that the partnership aims to "make RWA-backed yield opportunities more accessible to XRP and RLUSD holders through transparent, XRPL-native structures." In addition to product integration, the two entities plan to collaborate on research and market education to advance the adoption of RWAs on the XRPL. ^[4]