Hey everyone, we’ve got some exciting updates to share with you regarding our latest developments in the realm of smart contracts, liquid lending (farming), and a secret new Algem product. We’ve been hard at work over the past week, making progress on our Adapter contract, and we’re excited to share what we’ve been up to.
Smart Contracts: Liquid Lending (Farming) Progress & Roadmap
January 23, 2023
“Over the past week, significant progress was made on the Adapter contract. The main code for handling various dApp adapters and liquidity pair management was developed, as well as mechanisms for managing calls to adapter functions from the vault contract and core data structures for the vault…
Our current focus is on completing the core vault logic and creating tests for the implemented features. Once we ensure that the vault allows users to provide liquidity to pools and LP tokens to farm on the dApp, we will implement ALGM incentive mechanics (vault should receive ALGM and give users a weekly reward based on their share).
In the upcoming week, we plan to continue working on dApp farming rewards distribution and fee calculation mechanics.” — Arthur, Algem CTO
New secret Algem product progress
We are pleased to announce that we are working on a new secret product. We’ll be sharing more details in the coming days…For now here’s a sneak peak.
Arthur, Algem CTO, states:
“This week, we have successfully completed the architecture for our vesting contracts and expanded its functionality to make it more versatile. We have also resolved any issues we had with the XC20 standard and implemented a solution. Next week, we plan to thoroughly test the vesting mechanics and continue working on the […] contracts as part of our development roadmap.”
Frontend Update: A New & Improved UI Is Coming…
We are pleased to announce that the development of the bright theme for our liquid staking app has been completed. This theme will be released alongside the launch of our liquid staking multi-pool. Additionally, we have begun work on the user interface for providing nASTR to SiO2 and Starlay.
Overall, we’re making great strides in our development efforts and we’re looking forward to launching some awesome new features and products in the near future. We’ll be sure to keep you updated as we make more progress, and we can’t wait for you all to see what we’ve been working on. Thanks for your continued support!
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.