Hey everyone, we are pleased to share updates with you regarding our latest developments in the realm of smart contracts, liquid lending (farming) and the UI.
Smart Contracts Progress
April 10, 2023
“This week, the development team made significant progress in various aspects of the Algem platform. We focused on research, bug fixes, contract development, and support to ensure the smooth functioning of the platform. Below is a comprehensive overview of the work completed over the past week:
1. Oracle Research and Integration: Our team conducted extensive research on the utilization of oracles, specifically exploring the possibility of creating a custom oracle using DIA. This research will allow us to implement accurate and reliable data feeds for the platform that are in line with our security protocols.
2. Algem Bug Fixes: We addressed a bug related to arrays in the Algem contracts. The issue was thoroughly investigated and resolved, ensuring the stability and reliability of the platform.
3. SiO2 Audit Fixes: Following the SiO2 audit, we have been working on resolving issues raised to improve the protocol’s function.
4. Liquidation Script Development: Our team has been working on developing liquidation scripts to enhance the platform’s asset management capabilities and ensure overall stability and security.
5. Multisig Support and Error 3206 Resolution: We are working on implementing a multi-sig system in our protocol along with error 3206 resolution.
6. ERC1155 Contract Integration and Reward Logic: We are working on developing and integrating an ERC1155 contract into the Algem platform for the reward logic. This is for scenarios where ERC1155 tokens are absent. This will allow for rewards to be distributed proportionally to the tokens locked in vaults.
7. Token Price Handlers for DIA: We have been building handlers for calculating token prices using DIA data feeds, further enhancing the accuracy and efficiency of the platform.
8. Algem Token Logic: We have started working on enhancing the logic for Algem token, which will be completed in the coming weeks.” — Arthur, Algem CTO
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.