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Development Report – Algem (Bi-Weekly Update)


In the past two weeks, the Algem development team has continued to enhance our projects, focusing on improving functionality, reliability, and testing procedures. Here’s a summary of the recent developments from our developers, explained in non-technical terms.

Smart Contracts Progress

Liquid Farming Development – Danny:

The initial week in Liquid Farming development brought important changes to the codebase. One significant addition was the implementation of a self-destruct mechanic in the vault contract. This feature allows for the safe removal of the vault after expiration and lASTR burning, contributing to the efficiency of our system. Another noteworthy improvement involved the development of automated tests. This phase involved writing extensive code to thoroughly cover deployment, initialization stages, access control, and core functionality, enhancing the overall robustness of our code.

The second week in the Liquid Farming development process was dedicated to further enhancing the automated testing routine. Comprehensive coverage was achieved for all core functions, addressing various aspects of our codebase. Additionally, updates were made to some front-end getters, improving the interaction between our platform and users. Simultaneously, ongoing code refactoring is being carried out, ensuring a smoother and more efficient development experience.

Liquid dApp Staking and ALGM Staking Development – Alex:

In the initial week, significant progress was made in the overall design of the discount commission logic in LS V2. The coding process has commenced, bringing us closer to implementing this crucial feature. Additionally, a bug fix was implemented in the current LS V1.5 contract, addressing issues related to the calculation of non-owned rewards. Further, off-chain balance snapshots for users of the SiO2 adapter and stakers on Astar Degen were prepared, laying the groundwork for improved user experience.

The logic for version 2 of Liquid Staking, featuring a new discount system, is nearly complete. The next steps involve writing tests and refining the code for seamless integration. A bug related to the distribution of rewards in the form of SiO2 tokens for a provided deposit in the SiO2 adapter was identified and promptly fixed during the week. Simultaneously, the architecture of the Vesting contract for the distribution of ALGM tokens underwent modifications, and the logic is currently being fine-tuned.

Upcoming Milestones:

Liquid Farming:

  • Continued enhancement of automated testing routines.
  • Ongoing refactoring of the codebase for improved development experience.

Liquid Staking:

  • Completion of testing and refinement of the logic for LS V2 with the new discount system.
  • Implementation of fixes and improvements based on identified bugs.
  • Finalization of the Vesting contract logic for the distribution of ALGM tokens.

We appreciate your ongoing support as we strive to make our platform more secure, efficient, and user-friendly.

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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