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 reworking and debugging the V3 vault contract, introducing key improvements and ensuring backward compatibility for a smooth transition. Alex concentrated on testing the Liquid Crowdloan contract, deploying ALGM Staking, and developing a high-level design for implementing liquid staking across different networks using LayerZero technology.

Smart Contracts Progress

Liquid Farming Development – Danny:

In the first week, Danny concentrated on reworking the V3 vault contract, with a primary goal of simplifying the involvement of external contracts. By removing the NonfungiblePositionManager and SwapRouter, Danny streamlined the process, allowing all actions to be performed directly with a dedicated uniswap(-like) liquidity pool. Another significant enhancement was the introduction of the “virtual vault LP,” which, while invisible to users, enables the accurate tracking of user shares after a rebalance event.

The second week was dedicated to further debugging the new features in the V3 vault. Danny ensured that these new features did not disrupt any existing workflows or required only minimal changes. His primary objective was to prepare the vault for live testing and address any potential issues during local testing. This focus on thorough testing and backward compatibility ensures a smooth transition for users when the vault goes live.

Liquid dApp Staking and Liquid Crowdloan Development – Alex:

In the first week, Alex initiated the testing phase for the Liquid Crowdloan contract. He set up preliminary test parameters and added functionality to provide flexibility in testing various conditions. All the necessary data was shared with colleagues to facilitate frontend integration. Additionally, Alex began researching other projects’ experiences to create a technical design for implementing liquid staking across different networks.

During the second week, Alex continued testing the Liquid Crowdloan contract. As no issues were identified, the crowdloan period was successfully closed, and a two-day vesting period commenced. Alongside this, Alex deployed the ALGM Staking contract and provided all necessary data to colleagues for frontend integration. He also developed a high-level technical design for cross-network liquid staking, opting to use a model based on LayerZero data transmission technology, with a modified version of the Liquid Staking contract for its implementation.

Conclusion:

Over the past two weeks, progress has been made in refining and preparing key components of the Algem platform for deployment. Danny’s work on the V3 vault contract has streamlined operations and enhanced tracking mechanisms, while Alex’s efforts in testing and designing cross-network solutions have laid the groundwork for future expansions to other networks. 

We look forward to sharing more updates as these developments continue to unfold. 

Thank you for your ongoing 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.

Join Our Growing Community!

Website | Twitter | Discord | Telegram