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Algem Weekly Development Update (Jan 30th – Feb 5th): Key Milestones Reached

Dev Update Article - 08.02.23

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

Smart Contracts: Liquid Lending (Farming) Progress & Roadmap

February 5th, 2023

“This week our focus was mainly directed to LP token staking and reward distribution. We have also improved and modified liquidity providing and mining functionality. In addition, we have begun implementing tests straight away, so it is easier to maintain the project.

Next week we plan to test out the core functionality of Liquid Lending and make a start on finishing the remaining mechanics.” — Arthur, Algem CTO

Algem secret product

February 5th, 2023

“This week the core mechanics were finished. Next week the plan is to develop the rest of the functionality and start writing unit tests.” — Arthur, Algem CTO

Frontend Updates

The user interface for providing nASTR to SiO2 and Starlay has finished. Additionally, work on the bugfix of the UI for Liquid staking multipools was finished too. We are now waiting for the smart-contract audit to finalize, in order to start launching these features.

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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