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Development Report – Algem (Bi-Weekly Update)


Hello Algem users!

We are excited to share 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 platforms, addressing audit findings, and exploring new features to enhance our ecosystem. Let’s dive into the details.


Over the past two weeks, Danny has focused on adding a referral system and improving the consistency of the liquidator script for Liquid Farming. He spent significant time fixing bugs and testing data hosting methods. Alex worked on refining omnichain functionality for tokens, managing period transitions in Astar, enhancing the ALGM token contract, and updating Liquid Staking V2 logic. He also developed an API for price trackers and collected user statistics to distribute future rewards.

Smart Contracts Progress

Liquid Farming Development – Danny:

During the first week, Danny added a referral system that works across the entire protocol. He primarily focused on improving the consistency of the liquidator script’s data storage. He defined structures to store and access the required data easily. Moving forward, his plan is to finish this script and then move on to other tasks.

In the second week, Danny dedicated most of his time to fixing bugs in the script. He also experimented with different methods of hosting the data to determine which option would be the most efficient. The plan for the upcoming week is to set up the script and fully test it on the existing contracts, ensuring everything runs smoothly.

Liquid dApp Staking and Liquid Crowdloan Development – Alex:

In the first week, Alex continued working on the omnichain (OFT) logic for ALGM, xnASTR, and aASTR tokens. He refined the code and added upgradeable functionality. He also started developing the logic needed to account for vault balances across different networks to calculate the circulated supply of xnASTR. Additionally, he worked on the architecture for a REST API to provide necessary information to aggregators. This week also marked the first period transition in Astar, which required changes in the update logic. These changes were successfully implemented and the period transition occurred without issues. Before the start of the new period, user balance information was gathered to ensure accurate calculation of bonus rewards.

In the second week, Alex enhanced the functionality of the ALGM token contract by adding and testing logic to manage the circulated supply across different networks.Modifications were made and tested in the Liquid Staking V2 contract, specifically adjusting the revenue distribution logic to allocate a portion of ASTR tokens to the ALGM Staking contract.

Upcoming Milestones:

Our development team has made strides over the past two weeks. Danny’s efforts have been crucial in enhancing the Liquid Farming infrastructure and improving the liquidator script, while Alex has focused on omnichain functionality, period transitions, and enhancing the ALGM and LiquidStakingV2 contracts.

Roadmap for the Next Few Weeks:

  • Danny will set up and fully test the liquidator script on existing contracts to ensure smooth operation.
  • Alex will address findings from the Liquid Staking V2 security audit and continue refining the omnichain functionality.
  • Both developers will work on enhancing the overall functionality and security of the Liquid Farming and Liquid Staking products.

We remain dedicated to providing a secure, efficient and user-friendly platform for our community. 

Thank you for your continued support and feedback.

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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