Algem Weekly Dev Update – August 1, 2023

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

August 1, 2023

“Over the last week in Liquid Lending development, we focused on the continuation of last week’s mentioned upgrades / improvements.

There was also an update to ALGM distribution on the Vault Manager level, so that there is no need to modify existing pair weights when new pairs are added.

Furthermore, all the updates are now going through the debug process at this time.

The Liquid Lending (Farming) Development progress can be found here”

Danny, Algem smart-contract developer

“Part of the past week was dedicated to reward distribution and handling user inquiries. As a result, issues were resolved and opportunities for improving the logic in future updates were identified.

After a short break, we resumed testing the Crowdloan contract, conducting a thorough review of its logic and adding emergency features that allow pausing of the contract when necessary for increased security. We have also been setting up and preparing for UI tests.

Additionally, active work is currently ongoing for the V2 version of the Liquid Staking contract

We also conducted a review of the Astar Dapp Staking v3 proposal and started planning the adaptation of the Liquid Staking contract to these changes.

The Liquid Staking 2.0 Development progress can be found here”

Alex, Algem smart-contract developer

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.