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Development Report – Algem (Bi-Weekly Update)


Hello Algem users!

We’re back with another bi-weekly development update to keep you informed about the progress of our Liquid Farming project. Our diligent developers, Danny and Alex, have been making improvements in refining the protocol, enhancing functionality, and preparing for production readiness. Here’s a detailed look at their recent efforts and upcoming plans.

Smart Contracts Progress

Liquid Farming Development – Danny:

Danny was focused on further improving the codebase and preparing for the testnet deployment. He added and tested the necessary code for managing various contract limitations such as slippage and minimum/maximum amounts. Additionally, several bug fixes and quality of life (QoL) enhancements were implemented. The goal for the following week is to continue refining the code to make it production-ready.

The second week saw the successful launch of the testnet for Liquid Farming. During this period, a few bugs were identified and promptly fixed. A major update was also carried out on scripts and tests, separating version-specific code and adding general master/central tests. The configuration system was revisited to resolve compilation errors encountered when importing several inherited contracts. The plan for the next week is to address any remaining known issues to finalize the project.

Liquid dApp Staking and Vesting Development – Alex:

Alex made changes to the instant unstaking logic because of the transition to a new token type. To simplify the codebase and reduce gas costs, some logic for recording user balances for each period was removed, with the necessary data now being collected using an indexer. Additionally, functionality was added to allow pausing functions by their signatures.

Improvements were made to the logic that enables NFT holders to receive cashback from rewards. A portion of the revenue pool is allocated to users who have locked their NFTs and tokens. Changes included variations for increasing and decreasing the lock amount. This updated logic is currently undergoing testing.

Upcoming Milestones:

In conclusion, our development team has been making steady progress, with a focus on code refinement, bug fixing and testnet preparations. The advancements in instant unstaking logic and NFT cashback functionality are pivotal for enhancing user experience and overall platform efficiency.

As we look ahead, our roadmap for the next few weeks includes:

  • Finalizing Code for Production: Danny will continue refining the codebase, addressing any known issues, and ensuring it is ready for production deployment.
  • Comprehensive Testing: Both developers will focus on rigorous testing of all functionalities, especially the updated logic for instant unstaking and NFT cashback, to ensure reliability and performance.
  • Audit Preparation: The team will prepare the code for a thorough audit, addressing any potential security vulnerabilities and ensuring robust protection for user assets.
  • Deployment on Test Network: The updated contracts and functionalities will be deployed on the test network for further validation and user feedback.

We are committed to delivering a secure, efficient, and user-friendly platform that meets the evolving needs of our community. Your continued support and feedback are invaluable as we strive to enhance Algem and the Liquid Farming project.

Thank you for being a part of our journey.

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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