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Algem Weekly Dev Update – May 10, 2023

Dev update - 11.05.2023

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

May 10, 2023

“For the past week there has been a lot of work done on the development environment for Liquid Lending. A fixture was implemented with all needed mock liquidity pools and tokens allowing us to perform the automated tests in controlled conditions. This fixture was also implemented for all related tests.” — Danny, Algem smart-contract developer.

“The transfer of all key roles to the multisig wallet address have now been completed and the nASTR token contract has been updated to include the functionality for a two-step owner change. The ALGM Vesting contracts for Liquid Lending have been deployed to Astar, and their functionality is currently being tested.” — 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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