Each week, we’ll round up the hottest news across the DeFi ecosystem to help you keep up to speed.

Layer 2 scaling solutions are designed to combat network congestion on Ethereum—and they’re proving increasingly popular. This past weekend, the total value deposited into Layer 2’s eclipsed $1B. ( DeCrypt)

When Solana blockchain went down for several hours on Tuesday, Solana developers decided to restart the chain. The outage  stopped all activity across Solana, including its DeFi apps. ( CoinDesk )

Read Yearn’s ($YFI) quarterly report for Q2 2021, just released. The report  boasts over $5B in total value deposited to the protocol. ( Yearn GitHub )

Algorand ($ALGO) sets up $330 million fund focused on bringing DeFi development to its blockchain and users. The fund will be in the form of ALGO tokens, to be  distributed to potential projects. ( The Block )

dYdX, the decentralized margin trading protocol, retroactively airdropped over $1B in DYDX tokens to its past users, totaling 7.5% of the tokens supply. Existing users of the protocol, who had also traded on the exchange’s Layer 2 network, were eligible for the airdrop. ( TheDefiant )

Star point guard for the Golden State Warriors, Steph Curry, tweeted earlier today that he is “just getting started” in crypto and looking for advice. “Just getting started in the crypto game…y’all got any advice?” Curry asked. Just last month, Curry bought a Bored Ape NFT. ( DeCrypt )

Ethereum Layer 2 scaling solution Arbitrum One experienced outages this past Tuesday. Funds were never at risk, but the submission of new transactions stopped during the downtime. ( OffChainLabs Medium )

Over the weekend, Uniswap Layer 2 24-hour volume surpassed $33.3M, which is 4x the previous all-time high. This total includes only the volume on the Arbitrum and Optimism scaling solutions, where transactions cost a fraction of the L1 fee and were executed in a fraction of the time. ( Twitter )