Algem Weekly Dev Update – July 18, 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

July 18, 2023

“Last week with Liquid Lending, development was focused on making sure all needed concepts have been implemented:

Penalties, bonuses, access control limitations, view getters etc.

The ALGM Pool contract also had a massive update and the reward system has been reworked to provide the features mentioned above.

The Liquid Lending contracts are currently in the process of being prepared to undertake an audit.”

Danny, Algem smart-contract developer

“Last week, an update for the Liquid Staking contract was planned and then carried out.

As part of this update, logic was added to enhance the reliability of the reward distribution as well as for redundant data that still remains even once the contracts are removed.

Additionally, monthly operations were carried out to collect statistics on user balances and rewards (for the Astar Degens stakers).

Work on the research of Liquid Staking 2.0’s update took place.”

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.