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Algem Weekly Dev Update – August 22, 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 22, 2023

Last week, Liquid lending development brought some core changes to the code structure.

First off, each 1155 token ID now represents an individual vault pair instead of a single position, so whenever a user locks their tokens in the vault to farm rewards, there is a position structure created and rewards are calculated like before. From a users’ perspective there is not much of a difference, but rather fewer queries are needed from the frontend side. 

Another significant change is merging the ALGM Pool contract with the Vault contract, since we now distribute rewards to each pair directly. The ALGM Pool entities are now part of the registered astr-erc20 token pair. 

While looking through the frontend it was necessary to consider reworking both of these aspects as it was too complex and required lots of queries, which slowed down the loading times.

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

Danny, Algem smart-contract developer

Over the past week we primarily focused on dedicating time to working on LS v3 and optimizing the logic taking into consideration the new functionality. 

Also, after adding the extra features and incorporating all the revisions from the auditors, the corrected version of the Sio2 Adapter contract was sent out. 

Relevant modifications were made to the second contract created for interaction with the Sio2 protocol – Asset Manager, which is used for asset management within the adapter. This contract was also submitted for auditing. 

Statistics were gathered regarding Astar Degens stakers. 

A series of tasks aimed at further enhancing the security of the Algem protocol were initiated.

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.

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