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Algem Weekly Dev Update – August 29, 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 29, 2023

Last week in Liquid Lending, development was focused on improvements of the existing codebase. During this process, all parts of the protocol communicating with the “outer world” have been fine-tuned to work correctly with the mainnet partners.

Some issues were found like the incorrect source of pid required to work with liquidity pools.

Also the initialisation process and state variables layout, got a major update so that contracts are upgrade safe.

All contracts have been deployed and connection to the UI has started.

Liquid Lending (Farming) Development progress can be found here

Danny, Algem smart-contract developer

Last week, work was primarily focused towards three directions:

– Work on Liquid Staking V2. The main functionality was further developed and gas optimization of the logic responsible for voting for dApps took place.

– Analyzing the Astar proposal regarding dApps Staking V3. The text was examined in more detail and key points that could impact the operation of Algem’s Liquid Staking were identified. Some of the arising questions were clarified through responses from the Astar team.

– Security documentation was also enhanced and new tasks related to protocol reliability were added.

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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