Overview:

Hello Algem users!

Welcome to our monthly development report, where we share the latest updates from our development team. 

TLDR:

Danny deployed LF V2 vaults to mainnet, finalized the liquidator script (with async optimization and notifications), fixed critical bugs, and implemented secure multisig role settings.

Alex resolved legacy user balance issues from the Sirius hack, distributed NFT rewards for Kyo and Sonex stakers, refined notifications, and provided ongoing user and liquidity monitoring.

Danny:

Week of 28.07

Danny continued manual testing of LF V2 vault contracts under various conditions, including low and high liquidity scenarios. He also began development of a standalone liquidator script, implementing an asynchronous approach to improve data gathering speed and script performance.

Week of 04.08

Danny identified and fixed a bug in the V3Caller contract related to incorrect token parameter swapping, which affected price calculations in certain pools. The fix ensures reliable performance across all token pair orders. Further improvements to the liquidator script included efficient log handling, better error management, and secure private key handling for the liquidator address.

Week of 11.08

Two short-term vaults were successfully deployed and tested on mainnet. Basic functionality was verified. Danny also enhanced the setup environment for the liquidator script, enabling smoother rollout and improved developer experience.

Week of 18.08

Danny finalized vault launch parameters such as position width and liquidation thresholds based on live pool conditions. New reward NFTs were registered in the LFMaster contract to provide ALGM APR bonuses. The liquidator script was tested with live contracts and deployed to servers for production use.

Week of 25.08

Final tests were conducted on the liquidator script, and a new feature was added to enable notifications when liquidations occur. Additionally, Danny worked on multisig role configuration for vault-related contracts, assigning appropriate permissions to enhance operational security.

Alex:

Week of 04.08

Alex analyzed the long-term effects of the March 27 Sirius hack, identifying 94 users with incorrect reward balances. He corrected these balances, removed temporary admin functions, and updated system logic to reflect zero balances from Sirius. He also provided user support for a Liquid Staking v1.5 withdrawal issue and offered actionable solutions based on current pool liquidity.

Week of 11.08

Alex compiled liquidity data for users who added $50+ to key pools on Kyo and Sonex since June 1. He focused on active LP positions and refined the notification system to reduce alert frequency, improving usability. A fresh snapshot of Astar Degens user balances was created for accurate reward tracking.

Week of 18.08

Alex deployed two new non-upgradable NFT contracts (for Kyo and Sonex) to enhance Liquid Farming rewards and distributed them to eligible stakers. He also updated the notification system to focus on new vaults launched during the Liquid Farming upgrade, deactivating alerts for older vaults while maintaining monitoring for critical actions like deposits and withdrawals.

Conclusion:

Over the past month, Danny completed core development and deployment of LF V2 vaults, built and launched the liquidator script, and introduced a secure notification system. He also improved contract structure, optimized test coverage, and finalized role assignments for multisig management.

Meanwhile, Alex resolved Sirius-related reward inconsistencies, launched reward NFTs for Liquid Farming users, refined operational monitoring, and supported users with staking and liquidity participation.

About Algem

Algem is a decentralized application built on Astar Network and Soneium offering two main features: Liquid Farming and Liquid Staking. As the names suggest, these two options let ASTR and ETH holders keep their assets liquid while putting them to work. Liquid Farm or Liquid Stake with Algem’s Cross Chain platforms from Soneium or Astar Network and earn multiple rewards in the process. With Liquid Farming you’ll get a liquid lfETH fully redeemable token, in exchange for your ETH deposit to utilise this across the Soneium ecosystem all whilst earn farming fees and accruing Algem’s Native token ALGM in the process. In Liquid Staking, you’ll earn rewards that are automatically compounded with the Reward bearing xnASTR token for APR Yield in a simplistic way offering you peace of mind.

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