Overview:

Hello Algem users!

Welcome to our latest bi-weekly development report. Our dedicated team has been busy enhancing the performance and security of our platform, particularly in the areas of Liquid Farming and Liquid Staking. Our developers, Danny and Alex, have made progress in their respective areas and we’re excited to share the details with you.

TLDR:

Over the past two weeks, Danny worked on improving front-end performance for liquid farming by optimizing data fetching, as well as deploying contracts to the Minato testnet to simulate various scenarios. Meanwhile, Alex focused on testing cross-chain crowdloan logic, implementing CCIP functionality for LiquidStakingV2, and performing security analysis on staking transactions.

Smart Contracts Progress

Liquid Farming and Front-End Enhancements – Danny:

During the first week, Danny concentrated on improving the interface between our smart contracts and the front-end of the Algem platform. Previously, loading data from contracts required numerous calls, which caused delays and longer loading times. By streamlining the process to just 2-3 calls per page, Danny significantly improved the platform’s responsiveness. This change means users can now access information like daily ALGM rewards and APR rates much faster. These updates were carefully documented for quick reference and will make the platform more efficient and user-friendly.

Additionally, Danny worked on refining the REST server for the point system. This involved configuring firewall settings and ensuring that the server is accessible from external environments, making it easier to securely manage off-chain points for our users.

In the second week, Danny’s main focus shifted to the Minato testnet deployment. In this environment, he deployed all of Algem’s LiquidFarming contracts along with mock versions of UniswapV3 contracts to create a dedicated liquidity pool. This setup enables more controlled testing of different contract scenarios, such as liquidations and rebalancing. By isolating the testing environment, the team can now simulate complex behaviors and edge cases without relying on external dApps, allowing us to prepare for real-world operations with greater confidence.

Liquid dApp Staking and Liquid Crowdloan Development – Alex:

In parallel, Alex has been working on multiple fronts, starting with extensive tests for the Liquid Crowdloan contract during the first week. His main focus was verifying the logic for converting staked ASTR to aASTR and ensuring that the off-chain processes, which are crucial for stability, functioned seamlessly. He also tested the Cross-Chain Interoperability Protocol (CCIP) from ChainLink, an important piece of cross-network communication that will be integrated into our contracts moving forward.

By the second week, Alex had progressed to implementing CCIP functionality directly into the LiquidStakingV2 and xnASTR contracts. These improvements pave the way for Liquid Staking to operate across Layer 2 networks, expanding Algem’s staking capabilities. With the development phase now complete, Alex is moving on to rigorous testing and optimization to ensure the system operates smoothly in a live environment.

In addition to his development work, Alex conducted a comprehensive security analysis of recent transactions related to LiquidStaking. This audit was essential for identifying and addressing any potential vulnerabilities in the staking process, ensuring that our users’ funds remain secure as we continue to grow and expand our cross-chain features.

Conclusion:

Over the past two weeks, our development team has made significant strides in both Liquid Farming and Liquid Staking. Danny’s work on optimizing front-end interactions and deploying contracts to the Minato testnet will improve the user experience and the robustness of our farming operations. At the same time, Alex’s efforts in testing and implementing cross-chain functionality have laid a solid foundation for the future of Liquid Staking, with security remaining a top priority.

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

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.

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