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Algem Weekly Dev Update – July 4, 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 4, 2023

“Last weeks development cycle with liquid lending brought quite a massive change to the contracts:

— We separated the ALGM-related code to a new contract so there is an easy way to maintain and reuse it if we add need to add new types of Vaults.

— There is no separate adapter contract anymore now. Also, while trying to simplify user-side experience, Vaults were readjusted shrinking the amount of processes that users need to take, to call all of the protocols functions.

— The ERC1155 contract is now named Lending Position with a couple of functions being moved here from the Vault.

— Events are now more meaningful, allowing the tracing of state changes more precisely.”

Danny, Algem smart-contract developer

“Last week, work on the user interface of the SiO2 adapter continued, with additional logic for a more accurate display of users’ debt positions. 

—The current view of the contracts is considered finalized at this time, so additional code analysis was carried out manually, using tools such as Slither and MythX to check for vulnerabilities. 

—Prep work for contract auditing was carried out by creating a file outlining the key differences between the last audited version and this current one. 

—User balance data and the dynamics of accumulation were also tested for further analysis.” 

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.

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