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Development Report – Algem (Bi-Weekly Update)


Hello Algem users!

We’re excited to bring you our latest bi-weekly development update, highlighting the recent activities and progress made by our dedicated developers, Danny and Alex. They’ve been working on refining our Liquid Farming and Liquid Staking products, addressing audit findings and exploring new features to enhance our ecosystem. Let’s dive into the details.


  • Danny worked on quality of life updates and began developing a new points system for Liquid Farming. He also completed key parts of this system and ensured data consistency with database-related code. 
  • Alex focused on addressing audit findings for the Liquid Crowdloan, interacted with auditors for Liquid StakingV2 and researched cross-chain operations. He completed the first stage of the Liquid StakingV2 audit and made significant progress in testing omnichain functionality. 
  • Moving forward, Danny will finalize the points system and Alex will continue to address audit findings and manage the ALGM token supply.

Smart Contracts Progress

Liquid Farming Development – Danny:

During the first week, Danny focused on a variety of quality of life updates across the project, including improvements to scripts, tests, and configuration settings. He also enhanced version control by making separate commits for each audit finding, ensuring a more organized and trackable development process. In terms of research and development (R&D), Danny explored the possibility of integrating an existing referral system into Liquid Farming. He also developed the specifications for a new point system that will reward users based on their activity and contributions.

In the second week, Danny dedicated most of his time to developing the core parts of the points system. It was decided that the calculations for this system would be performed off-chain to optimize efficiency. Given that the liquidation script already iterates over user data, it was determined that the point system could be seamlessly integrated into this process. To ensure data consistency, Danny also worked on database-related code, which is crucial for maintaining accurate records of user points. 

The plan for next week is to finalize the database interactions to complete the points system.

Liquid dApp Staking and Liquid Crowdloan Development – Alex:

During the first week, Alex focused on addressing the audit findings from the Liquid Crowdloan review. He completed the necessary fixes and sent the updated document back to the auditors. In addition, Alex responded to user requests related to issues with the current version of Liquid Staking. Throughout the week, he actively interacted with auditors regarding the Liquid Staking V2 audit and began designing cross-chain operations for the protocol, leveraging the OFT (Omnichain Fungible Token) standard.

In the second week, Alex completed the first stage of the Liquid Staking V2 audit and received the preliminary report. He will begin addressing the findings next week. He also continued researching and testing the omnichain functionality, which enables data transfer between Astar and Astar zkEVM. This research provided clarity on the architecture of LiquidCrowdloan, particularly regarding the deployment of the ALGM Vesting contract on a different chain. Alex is currently researching the best methods for collecting the circulated supply of the ALGM token. Additionally, he is preparing for the start of a new period in Astar’s Dapps Staking program.

Upcoming Milestones:

Our development team has made strides over the past two weeks. Danny’s efforts have been crucial in enhancing project infrastructure and developing a new points system, while Alex has focused on addressing audit findings, enhancing cross-chain functionality, and preparing for upcoming staking periods.

Roadmap for the Next Few Weeks:

  • Danny will finalize the database interactions for the points system, ensuring seamless integration and accurate user rewards.
  • Alex will address the findings from the Liquid Staking V2 audit and continue researching optimal methods for managing the ALGM token supply.
  • Both developers will continue enhancing the overall functionality and security of the Liquid Farming and Liquid Staking platforms.

We remain dedicated to providing a secure, efficient and user-friendly platform for our community. Thank you for your continued support and feedback.

Thank you for your continued support.

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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