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Algem Weekly Dev Update (March 13th – March 19th)

Dev update - 23.03.2023

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 Progress

March 20th, 2023

“This week, the development team focused on research, documentation, support, and contract development. The team worked on integrating ERC1155 token standard into the liquid lending protocol, providing support for core Algem mechanics, and improving front-end functionality. Additionally, we have concentrated on refining production contracts and developing liquidation scripts.

Liquid Lending (Farming):

  • ERC1155 Integration and Documentation
  • Conducted research and documentation for ERC1155
  • Figured out correct usage of it with vaults
  • Added ERC1155 contract to the project

Liquid Staking Support and Contract Development:

  • Scripts and tables for dApp stakers to issue NFTs
  • Interface and methodology assistance for DIA
  • Prepared production contracts for upgrade, addressing:
    • Pause fixes
    • Withdraw functionality
    • Filling the reward pool

SiO2 Front-End and Script Development:

  • Developed instructions for front-end integration
  • Added functions to work with the front-end
  • Studied APR/APY and developed a liquidation script” — Arthur, Algem CTO

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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