Welcome to Algem’s first official testnet campaign!

In order to launch the first liquid staking protocol on Astar Network, we need to stress test our protocol. We are looking for relevant and elaborate comments and suggestions to improve and correct Algem.

We will unmute all channels in our Discord to share your comments and feedback, and we have prepared a Google Testnet Feedback form.

We have allocated 100,000 ALGM tokens to reward the testnet participants for finding bugs and providing feedback. 

To receive this airdrop, you need to fill in the Google Form with the bugs you found and your feedback and share your EVM Astar, Discord & Twitter handle.

Rewards will be distributed among all participants according to the bugs found and the quality of the feedback during this campaign.

The campaign starts today (June 10, 2022) at 14:30 UTC and will last for 3 days. 

Before testing Algem protocol, you must connect your EVM wallet (Metamask) to Shibuya and get SBY tokens from one of the faucets on Astar. See our documentation for more information.

Algem Testnet

On Algem testnet, you will be able to stake SBY tokens in our liquid staking feature. Your SBY will be automatically staked to dApp Staking via smart contract.

The reward shown in Algem comes from Shibuya’s dApp Staking reward.

After staking your SBY, you will receive equal nSBY tokens corresponding to your stake. These nSBY tokens are needed if you want to redeem your SBY tokens using the unstaking option.

Please note that nSBY tokens are pegged to SBY tokens on a 1:1 ratio and can be used across Shibuya Network’s DeFi ecosystem!

For those who participated in the private testnet and want to test again, be sure to use a new wallet for the test.

How to Test

Stake SBY and get nSBY tokens

• Go to Algem website https://www.algem.io/ and move to the app via the “Launch app” button in the top right corner. 
• Connect your EVM wallet (Metasmask)
• In the liquid staking section, enter the amount of SBY to stake and click on the stake button. Note: use 40% of your testnet SBY balance for it. If you have 10 SBY, stake 4 SBY, please.

• Confirm your transaction in Metamask
• Once you have staked your tokens, you will receive nSBY tokens in your wallet
• Add nSBY tokens on your Metamask. Contract address: 0x4a2B77C633828f7EdD0D8a35da7d534c7b2a26F0

Send SBY

• Create a second wallet and copy its address
• Switch to the first wallet and send a half of your nSBY tokens to the second wallet. If you have 4 nSBY, send 2 nSBY. 

Provide LP liquidity on PolkaEX with SBY/nSBY

With your nSBY and SBY tokens, you can provide LP tokens to PolkaEX testnet.

• Go to the swap section on PolkaEX testnet. Link to the SBY/nSBY pair. 
• In liquidity, add liquidity to the pair SBY/nSBY. Use all remaining nSBY for this. It’s important to use all your nSBY at this step.
• You can also swap SBY/nSBY tokens in the swap section

Do not remove liquidity!

No need to provide liquidity on the second wallet, use only first wallet for this!

After the steps above your wallet balances will look as follows:

1. First wallet: no liquid nSBY, all nSBY are in the SBY/nSBY pool on PolkaEX;
2. Second wallet: (2) liquid nSBY.

Claim Rewards

Return to Algem 8-9 hours after or during the next day. You will see your reward increasing and be able to claim SBY rewards

• Use your first wallet. Click on the claim button and confirm your transaction in Metamask
• Switch to the second wallet and ensure you have received a reward there too. No need to claim reward on the second wallet, just check it. 

We have noticed that some users are facing a situation where Algem is not tracking nSBY tokens in LP on PolkaEX but users are receiving staking rewards. The team is aware of this small problem and is already working on a solution.

Unstake SBY

• Stay in your second wallet. To unstake your SBY, you need to give back your nSBY tokens
• Under unstake, enter the amount of SBY you want to redeem and click on the unstake button
• No need to unstake nSBY in the first wallet, you can leave them on PolkaEX.

• Confirm your transaction in Metamask
• After 2 era, you will be able to claim your SBY
• Claim SBY.
• You can also try to use the immediate unstake function in case there are enough funds in the unstaking pool. 

Testnet campaign & Google Form

During this campaign, we are looking to stress test Algem and find bugs. 

You need to ensure:

• You are receiving your staking reward;
• You continue to receive rewards while your nSBY are in the SBY/nSBY pool at PolkaEX;
• You are receiving your staking reward on the second address;
• You can stake SBY, claim SBY staking rewards, unstake SBY.

To share your bug reports and suggestions, you need to fill the following google form. Please give as much details as possible in the form, you can also upload images if it helps. If you need to update your comments, you can edit your answer in the google form or contact us on Discord.

Please give as many details as possible in the form.

Please feel free to upload images if it helps. Finally, if you need to update your comments, you can edit your answer in the Google Form or contact us on Discord.

Algem testnet form

The EVM address of your 1st wallet and Discord handle and Twitter are required to receive your rewards.

Notice: to receive your testnet reward it is mandatory to follow our Twitter and join our Discord.

What is Algem?

Algem is a dApp built on top of Astar Network and offers two main features: liquid staking and liquid earning. As the name implies, these two solutions enable ASTR holders to remain liquid with their assets while putting them to work.

The liquid staking and liquid earning solutions allow users to accumulate staking rewards and increase their earnings using Algem’s liquid nASTR tokens across Astar’s DeFi ecosystem. In doing so, Algem supports other DeFi protocols by providing liquidity, creating a sustainable and cooperative ecosystem on Astar Network.

Twitter | Discord | Telegram | Medium