The Week in DeFi: Holesky Testnet Launch, Balancer Security Vulnerability, and Solana Pay x Shopify

The Ethereum Foundation revealed it will debut the Holesky testnet on September 15th, aiming to supplant Goerli. Meanwhile, Balancer contended with a security fright as a critical bug was found in certain pools this week. Finally, Solana Pay partnered with Shopify to integrate its services into the e-commerce platform.

Eventful week for DeFi! Let’s dive deeper into what went down in DeFi this past week.

Overview: Sentiment Continues to Sink

Total value locked (TVL) across all chains continues the downtrend, shedding another 2.5% as market sentiment prolongs its decline. Noteworthy exceptions to the trend are ConsenSys-backed L2 chain, Linea, which experienced a 40% swell in TVL, and Sui, which saw its TVL rise 20%.

Source: DeFiLlama

Welcome to Alpha Central

Wajahat Mughal covers 15 primitives he believes will push upcoming narratives in crypto, providing examples in each category.

Redphonecrypto muses on DeFi and how it powers applications only feasible with crypto as the backend infrastructure.

Ethereum: Holesky Testnet Incoming, EigenLayer Hits Caps Again

L2s: FRIEND Perpetuals Live for Trading

Bracket Labs launches Passage, allowing traders to speculate on an asset price. It enables trading volatility and leveraged trading.

Solana: Solana Pay Now on Shopify

Cosmos: Dymension’s Incentivized Testnet Is Live

Dymension releases its incentivized testnet, Froopyland with a maturity date of three months and 1% of the total supply distributed as rewards. Dymension is a chain designed to enable rollup deployment compatible with Cosmos’ Inter-Blockchain Communication (IBC) Protocol.

Another Week, Another Airdrop

Crypto betting platform, Shuffle, announces their token and hints at their upcoming airdrop in the near future.

Stay updated on your favorite projects and stay tuned for next week’s edition, and keep supporting your favorite projects, degens!