Development-Update-Jan-23th-Jan-29th
News, Product, Product overviews

Algem Weekly Development Update (Jan 23th – Jan 29th): New Features and Improvements

Hey everyone, we are pleased to share updates with you regarding our latest developments in the realm of smart contracts, liquid lending (farming) and UI. 

Smart Contracts: Liquid Lending (Farming) Progress & Roadmap

January 30, 2023

“Over the past week, our efforts have been directed towards enhancing the code for vault-adapter interactions. As a result, users are now able to provide liquidity via the vault’s interface. Furthermore, token management features have been incorporated into the adapter logic, enabling support for various ASTR/token pairs and the ability to blacklist available tokens for security purposes.

Moving forward, our focus will be directed towards the most crucial aspect of liquid lending: LP token farming and reward distribution. While low-level calls have been implemented in adapters and tested in production, the liquid lending logic (dApp/ALGM incentives, withdraw conditions, and fees) has several edge-cases that require attention” — Arthur, Algem CTO

Frontend Updates

Our front end developers have made considerable progress on the user interface for providing nASTR to SiO2 and Starlay. We are planning to finish this work during the week of January 30th – February 5th. Additionally, work on the bugfix of the UI for Liquid staking multipools is planned to be finished during this week. 

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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