Algem Weekly Dev Update (April 10 – April 16)

Hey everyone, we are pleased to share updates with you regarding our latest developments in the realm of smart contracts and the UI.

Smart Contracts Progress

April 17, 2023

“During the past week, the team has made significant progress in several key areas of the project. Here is a comprehensive report of the work that has been completed:

1. Algem Multisig Research:

The team has been researching multisig implementation to ensure the security functionality of the Algem platform and to provide secure integration with SiO2. As a part of this research, improvements have been made to the code, including the addition of various scripts and tests.

2. Audits:

The team dedicated two days of the week to conducting security audits. These audits are essential to identify and fix any vulnerabilities within the platform, ensuring the safety of users and their assets.

3. Algem Updates:

Changes have been made to Algem based on the latest fixes for SiO2, excluding modifications to the oracle. Further work on this aspect will be carried out in the coming weeks.

4. Excess Analysis:

Some time was spent on analyzing excesses within the platform. A more detailed report on this aspect will be provided in the coming update.” — Arthur, Algem CTO

About Algem

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.