Algem Weekly Dev Update – June 6, 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

June 6, 2023

“Last week work on Liquid Lending brought several quality improvements such as:

Environment contracts (third-party liquidity pools) have been moved to a separate module which are now being imported as json (abi+bytecode) files. This shrinks the project’s dependencies and allows us to easily manage them and their versions.

Documentation on all the testing processes were updated as well.

In addition, the Vault and Vault Manager contracts were updated meaning:

The reward system is now under development along with the code being written. (This all requires test coverage and debugging) and was a focus for us, however there will be further updates on this to come.

Danny, Algem smart-contract developer

“In collaboration with the Sio2 team, we have started testing and tuning the operation of the Algem adapter interface with the Sio2 protocol.

Information on trading volumes for the DEX protocols in the Astar Ecosystem have been collected. Based on the obtained data, the adapter will be adjusted to ensure that there is no shortage of any assets and that the operation is stable and reliable.”

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.