Overview:

Hello Algem users!

Welcome to our bi-weekly development report, where we keep you updated on the latest activities and progress from our development team. Over the past two weeks, our developers, Danny and Alex, have been hard at work improving various aspects of our LiquidFarming and LiquidStakingV2 projects, ensuring compatibility and preparing for audits. Here’s a detailed breakdown of their efforts.

TLDR:

Over the past two weeks, Danny focused on audit preparations, testnet bug fixes, and compatibility research for Liquid Farming and Liquid Staking V2. Alex worked on optimizing Liquid Staking V2, implementing cross-chain transaction handlers, and deploying contracts on the test network, while also researching LiquidFarming to enhance collaboration.

Smart Contracts Progress

Project Improvements and Research – Danny:

During the first week, Danny’s primary focus was on improving overall project quality in preparation for an upcoming audit. This involved updating various tests and scripts, as well as making some contract-level adjustments based on feedback from the testnet. One notable improvement was the addition of a new handler for the front-end, which helps predict how many L-tokens will be minted during deposits. These updates were crucial in refining both the performance and user experience of the Algem platform.

In the second week, Danny shifted his attention to research. He examined the documentation and codebases of verylongswap and kyo.finance to assess their compatibility with Algem’s LiquidFarming system. This is part of a broader initiative to explore new opportunities, such as introducing V3 liquidity mining to vaults for additional rewards. Additionally, Danny delved into LiquidStakingV2 to stay updated with ongoing developments in that project, fostering better collaboration across the team.

Liquid Staking V2 Optimization and Cross-Chain Testing – Alex:

Alex spent the past two weeks concentrating on the ongoing development of Liquid Staking V2. In the first week, he focused on optimizing cross-chain operations by adding handlers for failed transaction scenarios, ensuring that transactions are properly managed if issues arise on the destination chain. This improvement was thoroughly tested to verify its effectiveness and to fine-tune the system for better performance.

During the second week, Alex made significant progress by deploying the Liquid Staking V2 contracts on the test network, setting the stage for upcoming UI testing. He also began configuring CCIP (Cross-Chain Interoperability Protocol) functionality on the Sepolia and Fuji test networks since this feature is not yet available on the Astar and Soneium networks. Furthermore, Alex dedicated time to studying the Liquid Farming contracts, a step that will help him deepen his understanding of the company’s projects and strengthen collaboration with the team.

Conclusion:

In the last two weeks, our development team has been focused on refining and researching key aspects of Algem’s Liquid Farming and Liquid Staking V2 projects. Danny’s efforts have improved the system’s readiness for audit and enhanced compatibility, while Alex has been advancing cross-chain functionality and optimizing contract deployment. These developments are helping to solidify the Algem platform’s performance and prepare for future expansions.

As always, we are committed to refining the Algem platform to provide the best experience for our users.

Stay tuned for more updates in the coming weeks, and 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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