Ethereum Developers to Launch New Testnet Called 'Holli'

Ethereum core developers want to build a new testnet called Holesky which will solve the issue of testnet token distribution for developers currently using the Goerli testnet.

In a Feb. 23 tweet, Ethereum’s core developer, Tim Beiko, said the developers were planning a new testnet Holli for later this year. The testnet could be renamed to “Holesky.”

The new testnet has become necessary because a monetary value has been attached to the Goerli testnet tokens, which are meant to be worthless. This makes it difficult for developers to use the testnet for free as intended.

Testnets are crucial to the development of Ethereum. Developers use them to test applications, upgrades, and software before they are deployed on the mainnet.

A new testnet, Holli, is planned to launch later this year, and hopefully we can figure out these things before then! I’ve made two suggestions on the repo, and would love to hear from application layer devs about how we could better approach this!
— timbeiko.eth (@TimBeiko) February 23, 2023

Goerli Testnet

While Ethereum has several testnets, Goerli is one of the most crucial because it is the first native multiclient testnet. This means that many active developers use it for their work.

Developer’s experience on the testnet has been hampered because of its token distribution model. Beiko said the distribution methods for GoETH have become less reliable, leading to the current issues.

Presently, only a few validators are responsible for distributing the tokens mainly distributed through faucets.

However, the limited distribution has caused several holders to hoard the testnet tokens, limiting the supply to developers who need the tokens to test applications on the network.

To solve this issue, LayerZero Labs launched a testnet bridge that allows developers to swap ETH for GoETH at $0.10. The company claimed developers would no longer have to wait for faucet providers and described the bridge as public goods.

But several people believe the testnet bridge has finally created a market for GoETH hoarders to sell. This could further incentivize the hoarders and worsen accessibility issues for developers who need the tokens.

Sorry but no this is not public good.
more like you look publicly bad
— Anton Cheng (I’m a healthy dev) (@antonttc) February 23, 2023

A smart contract developer Darpit Rangari pointed out that assigning real-world value to testnet ETH contradicts the basic definition of a testnet token. Rangari asked if this was an effective way to distribute testnet tokens fairly.

The founder of Chainflip, Simon Harman, said:

“This just incentivises more faucet vultures to drain testnet tokens for personal gain, ending Georli’s viability as a testnet. Even if it’s a pain, gETH must remain worthless.”

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Source: https://beincrypto.com/ethereum-eth-testnet-holli-goerli/