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
June 13, 2023
“Last weeks updates to the liquid lending protocol were dedicated to the reward system:
ALGM pools were developed, allowing users to stake ALGM tokens and earn additional farming rewards.
Also, work on the most critical part continues — The view function to calculate rewards dynamically. Claim functionality heavily depends on this too and is in progress as well”
Danny, Algem smart-contract developer
“We have reorganized the contracts for the SiO2 adapter and introduced a third contract specifically designed to calculate various parameters for the User interface display. These parameters show the estimated values of important metrics when collateral is added or withdrawn and when a loan is obtained or repaid.
Additionally, we are actively working on determining the displayed Annual Percentage Rate (APR) in the SiO2 adapter, as well as implementing features for reinvesting the liquid staking rewards received.”
Alex, Algem smart-contract developer
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.