Algem Weekly Dev Update – August 8, 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 8, 2023

“Last week, Liquid Lending development was dedicated to further code improvements such as: Bug fixes, upgrade and pause options, frontend getters and other “quality of life” additions needed to proceed to the development stage.

Also we have determined the requirements to start working on the lASTR related contracts so it can be used in partner lending dApps to earn additional rewards.

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

Danny, Algem smart-contract developer

“Last week, we received the initial audit report for the SiO2 adapter contract. So part of the week was dedicated to reviewing findings and working on code improvements in accordance with the auditors recommendations.

Additionally, work on Liquid Staking V2 is still ongoing at the moment. The logic for handling staking weights is being developed and existing code is being optimized.

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.