Algem Weekly Dev Update – August 15, 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 15, 2023

“This week, development was fully dedicated to Liquid Lending for preparation of the production environment:

Access controls and pause features were revisited.

We also updated most of the view calls in the Vault contract and added more view calls into the Lending Position contract, allowing us to get the frontend-required data with a single call for each field.

The Addition of Deploy and upgrade scripts for the mainnet with additional security checks to make sure everything was set up as intended.

The Position liquidator script has also been updated to provide an easier and more transparent logging process

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

Danny, Algem smart-contract developer

Last week, there were some main focus areas of work such as:

– Liquid Staking v2

– A Re Audit of the SiO2 adapter

While working on Liquid Staking v2, the design of the core logic was almost fully completed so we were able to begin working on the reinvest logic, which had originally been planned for an earlier time.

This week, we also received responses from the auditors regarding the SiO2 adapter report and are now finalizing the revisions mentioned.

Currently, Liquid Staking v2 remains the top priority task and 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.