Pinion Newswire
More than 14,000 depositors have used the protocol since launch, while cumulative deposits have exceeded $150 million.
Doppler by the numbers
| Metric | Current figure |
| Total TVL | ~$134.4M |
| XRPL TVL | ~$134.27M |
| Ethereum TVL | ~$149K |
| XRP Vault TVL | ~$132.6M |
| XRP deposited | ~88.94M XRP |
| XRP estimated APR3 | –4.5% |
| RLUSD Vault TVL | ~$1.62M |
| RLUSD estimated APR7 | –11% |
| Depositors | 14,000+ |
| Cumulative deposits | $150M+ |
Roughly 99.9% of Doppler’s TVL is currently on XRPL, while the XRP Vault accounts for approximately 98.6% of total TVL.
How Doppler generates XRP yield
XRP does not provide native staking rewards. Doppler instead uses a CeDeFi model combining institutional custody with market-neutral yield strategies.
These include:
- spot/perpetual basis trades using funding-rate spreads;
- asset-neutral arbitrage across trading venues.
Yield is distributed in the asset deposited by the user.
Proof of Reserve
Doppler’s Proof of Reserve snapshot from July 23, 2025 showed $49.91 million in reserves.
Fireblocks accounted for $13.44 million in on-chain custody. Another $28.78 million was held through Ceffu and associated with Binance, while $7.68 million was covered by external Proof of Reserve.
The $49.91 million figure is a July 2025 historical snapshot, not the protocol’s current reserve balance.
TVL growth
Doppler Vaults launched in February 2025.
| Period | TVL |
| July 2025 | ~$47.4M |
| October 2025 | $100M+ |
| Current | ~$134.4M |
TVL has increased by roughly 34% since crossing $100 million.
XDP token
Doppler has also introduced XDP, its utility and governance token.
| Parameter | XDP |
| Total supply | 10B |
| Genesis airdrop | 1% |
| Ecosystem & incentives | 43% |
| Functions | Governance, protocol access, safety module |
Growth in XDP secondary-market activity is separate from TVL: TVL tracks capital deposited in Doppler, while XDP market data reflects trading and token distribution.
Doppler’s position on XRPL
Doppler’s capital remains heavily concentrated: ~$134.27M on XRPL, ~$132.6M in the XRP Vault and ~88.94M XRP deposited.
Its Proof of Reserve data also shows the protocol’s hybrid structure, combining on-chain custody, Fireblocks, Ceffu and centralized trading venues.
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