Overview:

Hello Algem users!

Welcome to our bi-weekly development report at Algem! We aim to keep our users informed about the latest updates and improvements in our projects. Our developers, Danny and Alex, have been at work addressing various issues and enhancing the Liquid Farming and Liquid Staking projects. Here’s a detailed overview of their recent activities.

TLDR:

Over the past two weeks, Danny focused on fixing bugs and addressing audit findings in the Liquid Farming contracts, with significant work on optimizing gas usage and managing liquidity efficiently. Alex worked on final testing for the LiquidCrowdloan contract, collecting user balance data, and researching omnichain interactions for cross-network functionality. Both developers made substantial progress in refining and securing the platform.

Smart Contracts Progress

Liquid Farming Development – Danny:

In the first week, Danny concentrated on fixing bugs and addressing audit findings related to the Liquid Farming contracts. This involved identifying and correcting minor issues such as incorrect event parameters and opportunities for gas optimization. Additionally, Danny encountered a problem with the USD representation of user positions, which required further investigation and testing.

During the second week, Danny focused on researching and developing the mechanics of the position price range within the concentrated liquidity concept. This is crucial for efficiently managing provided liquidity in V3 vaults. However, the challenge lies in managing the price impact that may occur during the rebalance call. Danny also continued to work on the USD representation issue, adding tests and conducting further research, identifying slippage as a potential source of the problem.

Liquid dApp Staking and Liquid Crowdloan Development – Alex:

In the first week, Alex prepared the Liquid Crowdloan contract for final testing, adding functionality to manage test periods for UI tests without altering the logic and audited code. He continued to work with auditors and conducted additional logic tests. Concurrently, Alex carried out the monthly data collection of user balances for utility purposes.

In the second week, Alex focused on testing the Liquid Crowdloan contract and enhancing the security of the ALGM token contract. Following auditors’ recommendations, he added a mock contract for the LayerZero endpoint and implemented corresponding tests to verify the successful transfer of tokens between networks. He also incorporated security logic for pausing the contract and included tests for this functionality. The final commit was sent to the auditors for review. Additionally, Alex conducted research and design on omnichain interaction logic, which is essential for implementing liquid staking across different networks.

Conclusion:

Our developers have made significant strides in improving the Liquid Farming and Liquid Staking projects over the past two weeks. Danny has been addressing critical bugs and optimizing contract functionality, while Alex has focused on final testing, security enhancements, and research for cross-network interactions. 

We look forward to sharing more updates in the coming weeks as we continue to enhance and secure our platform.

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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