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Development Report – Algem (Bi-Weekly Update)


Greetings, Algem users! We are excited to present the latest updates from our development team regarding the ongoing progress in the Algem project. As always, our team has been hard at work ensuring the efficiency, security, and adaptability of our platform. In this report, we’ll delve into the recent advancements made by our dedicated developers, Danny and Alex, highlighting their contributions over the past two weeks.

Smart Contracts Progress

Liquid Farming Development – Danny:

Danny spearheaded efforts towards enhancing the V3 liquidity aspect within Liquid Farming. A pivotal achievement was the introduction of a new pool, mirroring the functionality of the V2 pool but with crucial adjustments to accommodate a new type of LP (Liquidity Provider) tokens. These adjustments are essential as we prepare to lock liquidity in the vault. Additionally, Danny worked on reinforcing the project’s robustness by incorporating tests and updating the configuration system to seamlessly support multiple chains and their respective decentralized applications (dApps).

In the subsequent week, Danny shifted focus towards refining the V3 vault contract. Significant attention was directed towards managing non-fungible positions within the vault. The rewards formulas remained consistent, albeit with the integration of an additional token. Notably, Danny addressed the varying liquidation risks associated with different vault position parameters. Looking ahead, the plan for the upcoming week involves finalizing a comprehensive test suite, ensuring chain-agnostic compatibility, and comprehensive coverage of both V2 and V3 dApps across diverse scenarios.

Liquid dApp Staking and Vesting Development – Alex:

Alex made significant strides during the initial week, successfully completing several tasks. The Arthswap Adapter contract underwent thorough auditing and implementation updates, aligning it with changes in the Arthswap protocol to ensure seamless rewards reception for users. Additionally, corrections were made to the LiquidStaking contract to facilitate migration to Dapps StakingV3, with the revised code undergoing auditor scrutiny. Furthermore, the LiquidCrowdloan logic was adapted for DS V3, with the updated code undergoing auditor verification.

In the subsequent week, Alex’s efforts centered on the development of LiquidStaking V2. This involved laying the groundwork for tests, integrating necessary mock contracts, and adapting previously written code to V3 standards. Notably, emphasis was placed on finalizing the discount logic for NFT owners. Looking ahead, Alex aims to complete the logic aspect by the end of the upcoming week.

Upcoming Milestones:

In conclusion, our development team’s relentless dedication has driven substantial progress in our project. Looking forward, our roadmap for the next few weeks includes:

  • Completion of test suites for both Liquid Farming V3 and vault contracts.
  • Ensuring chain-agnostic compatibility and comprehensive scenario coverage for V2 & V3 dApps.
  • Finalization of LiquidStaking V2 logic, including discount logic for NFT owners.
  • Continued auditing and verification processes to uphold platform security and integrity.

We remain committed to delivering a robust, user-friendly, and innovative platform, and we appreciate your continued support and feedback as we strive for excellence in the evolving landscape of decentralized finance (DeFi).

About Algem

Algem is a decentralized application built on the Astar Network and offers two main features: liquid staking and liquid farming. As their names suggest, these two options let ASTR holders keep their assets liquid while putting them to work. Also, the liquid staking and farming 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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