Dear Algem Community,
Igor here, as the CEO of Algem, I’m profoundly grateful for the active engagement you’ve shown in our recent community poll.
Your candid feedback and innovative suggestions are the driving force behind our continual growth and improvement.
Reflecting on your responses, I would like to share our thoughts and the subsequent steps we plan to undertake:
Redesigning Staking Target Change
Your suggestion: “Enable changing the staking target without needing to unstake. It might be technically challenging…”
Our response: We’re on it! Our team is currently researching this feature. We appreciate your understanding as we tackle this challenge.
Implementing Auto Compound Option
Your suggestion: “Introduce auto compound like the Astar portal.”
Our response: You’ve spoken, and we’ve listened. This highly-requested feature is on our development agenda, requiring updates to the smart-contract and UI. Stay tuned for its launch in June.
Improving NFT Holder Visibility
Your suggestion: “It would be nice to have visibility of my Algemantis holder status.”
Our response: We’ve noticed that there’s been some confusion surrounding the “NFT Holder” badge displayed on our liquid staking page.
Let’s clarify that.
To jog your memory, this badge is meant for holders of the liquid staking discount NFT, and not the Algemantis Nautilus Pass NFT.
Possession of this badge allows you to enjoy a 10% discount on the liquid staking fee.
Your feedback revealed that the Algemantis Nautilus Pass NFT doesn’t have any visible representation and that the current “NFT Holder” badge may cause some confusion.
We take this very seriously.
To rectify this, we’ve decided to rename the “NFT Holder” badge to a more explicit “Discount NFT Holder”.
Furthermore, we’ll introduce a NEW badge termed “Algemantis Citizen”. This will be visible to all Algemantis Nautilus Pass NFT holders on the liquid staking page.
Here’s how it will appear:
Our aim is to roll out this change before June 1.
We appreciate your patience and understanding as we continue to make Algem better for you.
Enhancing Staking Form
Your suggestion: “The UI defaults to stake on Algem, and you have to scroll down to see other projects’ staking pools. I’d like to stake on specific dApps directly.”
Our response: We acknowledge the current staking form may not be as intuitive for some users. We’re working on a redesign that will incorporate your feedback. Stay tuned for the new design presentation.
Expanding Wallet Support
Your suggestion: “Support more wallets (Talisman, Subwallet, Rabbit…)”
Our response: We are actively working to broaden our wallet support. Expect to see several new wallets integrated by June 15th.
Implementing nASTR Lending & Collateral Function
Your suggestion: “Enable lending using nASTR and using nASTR as collateral”
Our response: We’re currently finalizing the Sio2 and Starlay connection and expect this functionality to be up and running in the coming weeks!
As I conclude, I want to assure all of you that Algem isn’t just a DeFi dApp, but it’s a community-driven platform, where your voices, suggestions, and concerns genuinely matter to us.
Our mission is not just to innovate, but to create a platform that is adaptable, user-friendly, and meets your evolving needs.
This process is a collaborative journey, one that we’re honoured to embark on with such a responsive and insightful community.
The upcoming months will see us implementing the changes that you have suggested.
Our vision for Algem is to continuously evolve and adapt, to not only remain relevant but to set the standard in the world of DeFi, ESPECIALLY in the Astar Network and Polkadot ecosystem.
Your feedback is instrumental in making this a reality, and we can’t thank you enough for your invaluable contributions.
Every new day at Algem brings exciting challenges and opportunities.
As we forge ahead in our journey, I am inspired by your continuous support and believe that TOGETHER, we can shape a future where DeFi is more accessible, efficient, and rewarding than ever before.
Every suggestion is an opportunity to better serve you, our valued community, so thank you once again for allowing us to do that.
Stay tuned for more exciting developments at Algem!
Igor, Algem CEO
Algem is a decentralized application built on the Astar Network and offers two main features: liquid staking and liquid lending. As their names suggest, these two options let ASTR holders keep their assets liquid while putting them to work. Also, the liquid staking and lending solutions let users use Algem’s liquid nASTR tokens across Astar’s Defi ecosystem to earn staking rewards and make more money. In doing so, Algem supports other Defi protocols by providing liquidity and creating a sustainable and cooperative ecosystem on the Astar Network and Polkadot.