Algem Weekly Dev Update – May 24, 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 24, 2023

Liquid Lending updates:

Last week changes were all about the ongoing debugging process. The main goal was to test the liquidity tracking functionality (e.g. amounts in different dApps, total ASTR amount provided and liquidation cases if the price changes). More test cases were added along with the contract functions, allowing access to necessary pool parameters.

Also there were minor improvements in scripts needed to deploy and maintain the project.

Danny, Algem smart-contract developer

Liquid Staking updates:

The past week has been dedicated to the development of the liquidation mechanism for lending adapters. Its main objective is to ensure a safe and stable operation of the loan mechanism during the initial functioning of the adapters.

Additionally, work is ongoing to integrate all the necessary metrics of lending protocols into the adapters, such as APR/APY, to provide comprehensive information display in the UI.

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.