Overview:

Hello Algem users!

Welcome to our bi-weekly development report, where we share the latest updates from our development team. Over the past two weeks, Danny and Alex have been working on improving the usability, efficiency, and cross-chain capabilities of Algem’s core functionalities. Here’s what they’ve accomplished.

TLDR:

Danny focused on reorganizing project scripts, improving documentation, and trimming unused contract features to streamline operations. Alex worked on refining Liquid StakingV2 for ERC20 compatibility, advancing cross-chain interaction with the new CCT standard, and collecting monthly balance statistics for Liquid Staking users.

Project Organization and Documentation Updates – Danny:

In the first week, Danny focused on reorganizing the project’s scripts folder to better reflect the structure of the main source code. Each dApp-specific script is now stored in separate folders, making the project more organized and easier to navigate. Additionally, a centralized “single source of truth” was introduced, consolidating all addresses and key parameters in one place. This improvement ensures consistency across the project while reducing potential errors. Danny also added a feature to provide prompts for critical parameters, allowing users to adjust values before broadcasting transactions, improving both flexibility and safety.

During the second week, Danny turned his attention to documentation and contract optimization. With the project’s growing complexity, he spent time reviewing and updating the existing documentation to make it easier for both users and developers to understand how to interact with Algem. New notes were added to explain limitations and special use cases. While working on the documentation, Danny identified and removed several unused contract functions that were adding unnecessary size and complexity. These functions were designed to address rare edge cases but can be reintroduced in the future if needed, thanks to the upgradeable nature of the contracts.

Cross-Chain Advancements and LiquidStaking Improvements – Alex:

Alex’s focus over the past two weeks has been on testing and refining Liquid Staking V2 and advancing cross-chain capabilities. In the first week, Alex worked on configuring Liquid Staking V2 to operate with ERC20 tokens on the Minato test network. He also reconfigured the mock dApp Staking contract to provide more realistic reward distribution, making the testing process more accurate and reflective of real-world conditions.

In the second week, Alex made significant progress in cross-chain interaction for Liquid Staking V2 by adopting the new CCT (Chainlink Cross-Chain Token) standard. This decision ensures compatibility with Chainlink’s latest advancements in cross-chain technology. The xnASTR token was updated to comply with the CCT standard, deployed on the Minato and Sepolia test networks, and paired with token pools configured for CCT operation. Additionally, the Liquid Staking V2 contract was redeployed on Sepolia to integrate these updates. To wrap up the week, Alex collected monthly user balance statistics, providing valuable insights into staking trends and performance.

Conclusion:

The past two weeks have been focused on refining Algem’s internal organization, improving usability, and advancing cross-chain capabilities. Danny’s work on project structure and documentation ensures a smoother experience for developers and users alike, while Alex’s progress on LiquidStakingV2 and adoption of the CCT standard marks a significant step forward for cross-chain interaction.

As always, thank you for your support, and we’re excited to bring you more updates in the coming weeks!

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.