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Development Report – Algem (Bi-Weekly Update)


In the past two weeks, the Algem development team has been actively enhancing the Liquid Farming protocol and making significant strides in addressing bugs, improving test coverage, and refining contracts. Additionally, efforts have been directed toward the Sio2 adapter and the technical design of the Vesting contract. Here’s a non-technical breakdown of the recent developments.

Smart Contracts Progress

Liquid Farming Development – Danny:

The first week in the Liquid Farming development process marked updates to the project. Work was done on the “framework” side, including improvements to configuration, tests, tasks, and scripts. This ensures that individuals can easily clone the project and access the protocol with hardhat tasks. The newly introduced tasks leverage scripts and config for seamless execution with the ability to incorporate extensive logic. Tests have been enhanced for improved readability. On the contract side, the lAstrCentr contract was added, facilitating lASTR owners to burn tokens and receive ASTR tokens in return.

The second week brought upgrades in various aspects, addressing bugs in the vault contract and enhancing test coverage. This along with the introduction of the lastrcentre contract enables users to convert lASTR back to ASTR easily.

Liquid dApp Staking and Vesting Development – Alex:

The initial week was predominantly dedicated to working with the Sio2 adapter. Identified statistical discrepancies will be addressed in the upcoming update and are currently under discussion with auditors. Simultaneously, work on the technical design of the Vesting contract is nearing completion.

The Vesting contract underwent revisions based on recent architectural decisions. Stress testing the Sio2Adapter contract during a surge in ASTR highlighted areas for improvement, which will be addressed. Preparation and testing for an update related to the delisting of Arthswap are underway.

Upcoming Milestones:

Liquid Farming:

  1. Debugging V2 Liquidity Contracts: Continue the debugging process for V2 liquidity Liquid Farming contracts, ensuring they operate seamlessly.
  1. Developing V3 Liquidity Contracts: Begin the development of V3 liquidity contracts, introducing new features and improvements to enhance the protocol.

Liquid Staking:

  1. Organizing Task Distribution for Liquid dApp Staking v2: Streamline processes for LS v2 development by organizing task distribution.
  1. Preparing “Secret Project” Contract for Audit: Ensure the “Secret Project” contract is prepared for a thorough audit to enhance security
  1. Restaking Arthswap Stakes: Implement adjustments in the LiquidStaking contract for the restaking of Arthswap stakes to a new address.

These developments reflect our commitment to continuous improvement and the creation of a robust, user-friendly Algem ecosystem.

We appreciate your ongoing support as we strive to make our platform more versatile, 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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